Companies Act 2014 section 980

Transitional provision — use of "limited" or "teoranta" by existing guarantee company, having a share capital

Section 980 provides for the transitional arrangements governing how existing guarantee companies with a share capital must update their names to replace "limited" or "teoranta" with "designated activity company" or "cuideachta ghníomhaíochta ainmnithe" during and after an 18-month transition period.

• Existing guarantee companies with a share capital had an 18-month transition period to voluntarily change their name to include "designated activity company" or its Irish equivalent
• During the transition period, the old rules on the use of "limited" or "teoranta" continued to apply to these companies
• Once the transition period expired or the company changed its name (whichever came first), the new naming rules under Part 16 took effect
• If a company did not change its name voluntarily by the end of the transition period, the law automatically deemed "limited" or "teoranta" to be replaced with "designated activity company" or "cuideachta ghníomhaíochta ainmnithe," and the Registrar issued a fresh certificate of incorporation

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