Companies Act 2014 section 835

Power to vary amounts specified in section 819(3)

Section 835 gives the Minister the power to increase the minimum capitalisation amounts that restricted directors must meet under section 819(3), subject to conditions relating to inflation and non-retrospectivity.

• The Minister may, by order, increase the minimum share capital thresholds that apply to companies involving restricted directors under section 819(3).
• Any such increase applies only prospectively — it does not affect restriction declarations made before the order comes into effect.
• Restricted persons subject to a declaration made before an increase order remain bound by the capitalisation amounts that applied at the time of their original restriction.
• The Minister may only make such an order where changes in the general value of money in the State since the Act was passed (or since the last such order) justify the increase to maintain the effectiveness of the capitalisation requirements.