Companies Act 2014 section 38

Capacity of private company limited by shares

Section 38 establishes that a private company limited by shares has full legal capacity equivalent to that of a natural person, effectively abolishing the doctrine of ultra vires for such companies.

• A private company limited by shares has full and unlimited capacity to carry on any business, do any act, or enter into any transaction, whether inside or outside Ireland.
• This capacity applies regardless of anything contained in the company's constitution.
• The company has full rights, powers, and privileges for all such purposes.
• This broad capacity does not relieve the company from any duty or obligation under any legislation or the general law.