Companies Act 2014 section 984E

Disapplication of certain provisions to applicable securities

Section 984E exempts applicable securities (i.e. dematerialised securities) from the standard share certificate and documentation requirements that normally apply under Section 99.

• Applicable securities are not subject to the usual rules in Section 99 regarding the issue and delivery of share certificates.
• The specific subsections disapplied are Section 99(2), (3), (4), (5) and (9), which deal with documenting and registering the allocation of shares and debentures.
• This exemption reflects the fact that dematerialised securities exist in electronic form and do not require traditional paper-based certificates or transfer documentation.
• The provision was introduced by the European Union (Dematerialised Securities) Regulations 2023 to align Irish company law with EU requirements for electronic securities settlement.