Companies Act 2014 section 979

Status of existing guarantee company, having a share capital

Section 979 deals with the transition of existing private companies limited by guarantee that also have a share capital, converting them automatically into designated activity companies (DACs) limited by guarantee under the Companies Act 2014, while preserving their existing constitutional documents.

• An existing private company limited by guarantee with share capital, incorporated under previous companies legislation, automatically becomes a DAC limited by guarantee from the commencement of this section.
• The company's existing memorandum and articles of association continue in force, provided they do not conflict with any mandatory provision of the Act, and may be amended in accordance with the Act.
• The company may temporarily continue to use "limited" or "teoranta" in its name, but if it does not voluntarily change its name within the specified period, the ending will automatically be replaced with "designated activity company" or "cuideachta ghníomhaíochta ainmnithe".
• Any references in the company's existing memorandum, articles, or governing regulations to provisions of earlier Companies Acts are to be read as references to the corresponding provisions of the Companies Act 2014.

---