Ireland
Similar to United Kingdom below, though without the class Community Interest Company. There were two forms of Company Limited by Guarantee, but only the form without a share capital is now used. Irish names may also be used, such as cpt (cuideachta phoibli theoranta) for plc, and Teo (Teoranta) for Ltd.
- Limited Company – Four types:
- Private company limited by shares – If company is wound up, members’ liability is limited to the amount, if any, unpaid on the shares they hold. Maximum number of members in the Republic of Ireland is 99.
- Company limited by guarantee not having a share capital - Public company. Must have at least seven members. Members' liability limited to amount they have undertaken to contribute to company assets. If wound up, liability does not exceed amount specified in memorandum. If a guarantee company does not have a share capital, members are not required to buy shares (such as charities).
- Company limited by guarantee having a share capital - As with a private company if the maximum number of members is 99. Members have liability either for the amount, if any, that is unpaid on the shares they hold, or for the amount they have undertaken to contribute to company assets, in the event that it is wound up.
- A public limited company. Must have at least seven members. Liability is limited to the amount, if any, unpaid on shares they hold. Unlawful to issue any form of prospectus except in compliance with the Companies Acts 1963-2006. Nominal value of Company's allotted share capital must satisfy specified minimums which must be fully paid before company commences business or exercises any borrowing powers.
- Single Member Company – Private company limited by shares or a guarantee company having a share capital, which is incorporated with one member, or whose membership is reduced to one person. Must have at least two directors and one secretary. Sole member can dispense with holding General Meetings including Annual General Meetings.
- Unlimited Company - No limit on liability of members. Creditors may have recourse to shareholders for unpaid liabilities of the company. Must have at least two shareholders.
- Undertakings for Collective Investment in Transferable Securities (UCITS) - Public limited companies formed under EU Regulation and the Companies Acts 1963-2006. Sole object of a UCIT is collective investment in transferable securities of capital raised from the public that operates on the principle of risk-spreading. Central Bank of Ireland must approve all registrations of UCITS.
- European Economic Interest Groupings (EEIG) - Mechanism for a business within the EU to engage in cross-border commerce. Purpose is to facilitate or develop economic activities of its members. Must have between two and 20 members which may be companies or individuals from different EU states.
- Societas Europaea (SE) – A European public limited liability company formed under EU Regulation and the European Communities Regulations 2007. Can be formed by merger or as a holding or subsidiary SE or by conversion of a PLC to an SE. Must have members from different Member States unless an SE itself is setting up a subsidiary SE.
Read more about this topic: Types Of Business Entity
Famous quotes containing the word ireland:
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—W.E.B. (William Edward Burghardt)
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—Dodie Smith, and Lewis Allen. Roderick Fitzgerald (Ray Milland)
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—V.S. (Victor Sawdon)