THE COMPANIES ACT 2014 - HOW IT MAY AFFECT YOU:- CORPORATE AND PERSONAL LIABILITY
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THE COMPANIES ACT 2014
HOW IT MAY AFFECT YOU:-
CORPORATE AND PERSONAL LIABILITY
INSIDE COVER
1
Mark Regan, Managing Partner Alison Gray, Audit Manager
mark@regansolicitors.ie alison@bck.ie
38/39 Fitzwillam Square, Dublin 2.
01 687 4100 01 676 5333
www.regansolicitors.ie www.bck.ie
2INDEX
Page
1. Introduction to Regan Solicitors 4
2. The Companies Act 2014 – Summary Guide 5
3. Issue to be Addressed by Companies 12
4. Legal Audit Packages for Companies 14
5. Legal Audit Summary & Price Guide 19
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A JOINT PUBLICATION BY
This information contained in this guide is of general nature not intended to address the circumstances of any particular party
or case. While we have endeavoured to provide accurate information, there can be no guarantee that such information is
accurate as of the date it is received or that it will continue to be accurate in the future. This guide is not intended to provide
legal advice, and you should not act on the basis of the information contained herein without seeking appropriate professional
advice. This guide does not purport to be advices upon which any party should rely, as further and more detailed instructions on
a case-by-case basis will be required
3REGAN SOLICITORS – AN INTRODUCTION
Structure of Firm Our Unique Strengths
The Corporate Focus of Regan One of the key factors of the
Solicitors is reflected in our service provided by Regan
Structure. Solicitors is the depth of
experience and level of expertise
We have five principal areas of which can be offered to our
specialism; clients in a personalised manner.
• Corporate & Commercial Unlike many larger commercial
• Commercial Property law firms, we take pride in
• Business Development providing each client with a
• Commercial Litigation & boutique service tailored
Dispute Resolution specifically for their individual
• Contract Law needs.
What we Strive to Offer
• Innovative & Business Like
Solutions
• We always seek to offer a value
for money service and are
happy to work with the client
having regard to their budget
• We are equally comfortable
providing private client advices
and services
4THE COMPANIES ACT 2014 – A SUMMARY GUIDE
Existing Private Limited Companies New LTD Companies New DAC Companies
Minimum of Two Directors – One may Minimum of One Director – Separate Minimum of Two Directors – One may
act as Company Secretary Company Secretary Requires act as Company Secretary
No requisite skills for Company Company Secretary must have Company Secretary must have
Secretary Requisite Skills or Access Thereto Requisite Skills or Access Thereto
Two Document Mem & Arts Single Document Constitution Has a Two-Document Constitution
Capacity Limited by powers in No Objects Clause; Doctrine of Ultra Must have an objects clause
Memorandum. Must have Objects Vires does not Apply
Clause
No requirement to register authorised Option to register those entitled to
corporate agents bind the company
Written Resolutions must be passed May pass written resolutions by the May pass majority written resolutions
by all members Relevant Majority
Only single member companies may Does not need to hold an AGM in Must hold an AGM where two or more
dispense with AGM certain circumstances members
Maximum of 99 Members Maximum of 149 Members Maximum of 149 Members
Limited by Shares Limited by Shares Limited by Shares or Guarantee
May decide not to have an authorised Must have an authorised share capital
share capital
May not list or have securities May list or have admitted to trading
admitted to trading certain securities
5New Company Types
There will now be 5 Main Types of Companies;
Private Company Limited By Shares (LTD)
Designated Activity Company (DAC)
Company Limited by Guarantee (CLG)
Public Limited Company (PLC)
Unlimited Company (UC)
The main changes relate to the old private limited companies; this form of company has now been
replaced by two different company types – the LTD and the DAC.
Private limited companies must elect, within 18 months, as to which type of company they wish to
convert to.
If no action is taken the private limited company will automatically be converted to a LTD, and its old
Memorandum and Articles of Association will no longer apply.
All companies must change their name to include the appropriate abbreviation
As the traditional Memorandum and Articles of Association are being discontinued, it will be
of greater importance in the future to ensure that well drafted shareholder agreements are
in place. Particularly for new company formations.
Charities and not-for-profits will come under increased regulation, particularly with the
coming into force of the Charities Regulatory Authority. It is important that a proper audit is
carried out by such companies to ensure that they are fully compliant and taking the correct
company type.
OMCs will come under greater scrutiny for compliance, given the low level of compliance with
the obligations imposed by the MUD Act, such as transfer of common areas. This will become
an increasingly live issue as property owners seek to sell their units on the back of a rising
market, and questions will be asked of OMCs as to why they are not in compliance.
The new single director company, together with the increased potential liability on company
officers, will greatly increase the demand for corporate company secretarial service to
facilitate those who genuinely want a one-person company without having to bring other
people on board to comply with company law
Main Changes
New Company Types
New Constitution
Abolishment of Ultra Vires in some cases
Directors Duties codified
Audit Exemption extended
Extension of scope for personal liability of directors
Directors Compliance Statement
Company Secretary must have requisite skills
Summary Approval Procedure
Priority of Securities
New Company Law Offences
New White Collar Crime provisions – including mandatory reporting requirements
Increase in mandatory electronic filing
6LTD Companies
Will be the default company type if no action is taken by existing companies to convert
Memorandum and Articles of Association replaced by a single document ‘Constitution’ –
contrast with DAC
Unlimited Capacity; No Objects Clause and Doctrine of Ultra Vires no longer applies – In
contrast with DAC
Will have full capacity to carry out and undertake any business or activity, or to do any act or
enter any transaction in the furtherance of trade
A single person – “Registered Person” – may bind the company, avoiding need for
Resolutions – s.39(1)
Only one Director required (although that person may not also act as Company Secretary) –
contrast with DAC
May avoid holding AGM however that is not to neglect correspondence from company email
to members
May not offer securities to the public, or list securities
Not required to have an authorised share capital
May reduce issued share capital by Summary Approval Procedure rather than application to
Court as previously required
Removal of requirement that at least 10% of issued share capital is non-redeemable has been
removed.
Requirement to have 21 day period of inspection of a contract for purchase by company of its
own shares also removed
Written resolutions (both ordinary and special) may be passed by majority rather than
unanimity
DAC Companies
This form of company is most similar to the existing private limited company
Must retain an Objects Clause
Ultra Vires does not invalidate transactions with Third Parties
Remedies available to members, and liability for directors, if acting beyond capacity
Limited by Shares
May only avoid holding an AGM if a single member company
May list certain debentures
Shareholders or creditors may force the company to convert to a DAC, either by serving
Notice on the company (shareholders with more that 25% voting rights) or by petitioning the
Court (shareholders or creditors holding 15% of share capital)
CLG, PLC & UC Companies
Existing law largely restated
CLG may avail of audit exemption
Same rules as DAC apply to Objects Clause & Doctrine of Ultra Vires
Remedies available to members, and liability for directors, if acting beyond capacity
Memorandum & Articles of Association -v- Constitution
The new LTD will have a single document Constitution.
Table A default regulations will no longer apply
There are approximately 150 optional rules in the Act which may be dis-applied by tailoring a
bespoke new Constitution document
A bespoke Constitution may also include supplemental regulations that deal with matters
not covered by the Act, such as offer-round of shares or indemnities in favour of directors.
7 If converting to an LTD, companies should consider what parts of the existing Articles are
now sufficiently covered by the optional rules of the Act, what variation of the optional rules
is desirable, and what further supplemental regulations are required
If converting to a DAC, the Constitution must be changed so that its name reflects its new
status
Timelines & Transition Period
The Act is now in force, and has been since 1st June 2015
There is a transition period of 18 months in which private limited companies may elect to
convert to either an LTD or DAC
This period shall end on 30th November 2016
Within this transition period, companies have 15 months to convert by ordinary resolution.
Thereafter it will only be possible to convert by special resolution
At the end of the 18 month transition period existing private limited companies which have
not taken any steps to convert will automatically be deemed to have become an LTD, unless
it is required to become a DAC, in which case it will be bound by the rules applicable to a DAC
31st March 2016 – all existing private limited companies wishing to become a DAC must have
initiated process by this date
30th June 2016 – all Public Guarantee companies must have changed their company name, to
include new company type, by this date
The transition period will allow companies to make the necessary changes to, for example,
their letterheads, invoices, stationary, websites and company name plates.
What if no Action is taken?
Private limited companies will be treated as DACs until the end of the transition period
Exiting private limited companies will automatically be deemed an LTD at the end of the
transition period – s.62
Existing Mem & Arts will continue to have effect, with the exception of the objects clause
The Articles will continue to refer to Table A
The result is rather untidy and not recommended from a legal perspective as it may confuse
and complicate future legal audits and undermine Corporate Governance.
Directors
The work, role, duties and responsibilities of the Company Director will increase
Must be at least 18 years old
Corporate Directors are not permitted
Directors Duties have been Codified
Eight Key Statutory Duties contained in s.228 of the Act
Expressly stated that breach of directors duties can result in the director having to personally
indemnify and/ or compensate the company
A Court Judgment that is wilfully disobeyed by a company may be enforced by attachment
against personal assets of a director – s.53
It will be a duty of the directors to ensure that the Company Secretary has the requisite skills
and resources to discharge their statutory duties – s.129
S.794 – Company Secretaries will be liable to prosecution by the ODCE if an offence has been
committed in connection with the management of the company’s affairs.
Specific duty under s. 330 to ensure that auditors have all relevant audit information; the
director’s report must include such a statement and confirmation that each director has taken
all the steps that he ought to have taken as a director to make himself aware of the relevant
audit information
8 Attempts have been made to simplify the provisions previously contained in part IV of the
Companies Act 1990 regarding disclosure of directors interests. Interests of less than 1% of
share capital will be disregarded
The old provisions on directors’ loans (old s.31 of 1990 Act) remain largely unchanged, but
one new feature is that it will be possible to use the Summary Approval Procedure to approve
a direct loan and credit transaction
The Act significantly increases the penalties where a company and its directors contravene
the obligation to keep accounting records;
o Where a contravention has contributed to a company’s inability to pay its debt or has
resulted in substantial uncertainty as to the assets and liabilities of a company that
was subsequently wound up, the offence is elevated to a Category 1 offence
Civil liability can arise for directors and experts for any misconduct in preparing or
implementing a merger; shareholders may take a claim where they have suffered a loss or
damage as a result of misconduct or untrue statements in any of the relevant documents
Directors may be criminally liable for untrue statements and exposed to a maximum penalty
of €50,000 and/ or 5 years in prison
Civil and criminal liability can arise for directors and experts for any misconduct in preparing
or implementing a division in the same way as applies to a merger.
Directors of insolvent unliquidated companies at higher risk of disqualification proceedings
from 2015 onwards – s.160(2)(h)
“Spouse Directors” - Durty Nellie’s case – Ms. Justice Carroll: directors may be personally
liable for debts;
o The day has long passed when women were classified with infants and persons of
unsound mind as suffering from a disability so far as responsibility for their acts was
concerned, or since a married woman could escape criminal responsibility on the
grounds that she acted under the influence of her husband.
o A wife cannot evade liability by claiming that she was only concerned with minding
her house and looking after her children. If that was the limit of the responsibilities
she wanted, she should not have become a director of the company or having
become one she should have resigned.
o Any person who becomes a director takes on responsibilities and duties, particularly
where there are only two,
Directors must now certify on appointment that they acknowledge the legal duties and
obligations imposed on them by legislation and common law.
Ignorance of the law will not be an excuse for non-compliance
MDN Roachford case, 2009: Regarding a s.150 application to restrict two directors, the High
Court held that company directors should review their company’s management accounts on
a monthly basis to enable them to assess whether their company is trading profitably
PSK Construction case – Judge Finlay Geoghegan made company directors liable for €1.7
million in company debts, together with damages for breach of duty and breach of trust.
Dev Oil & Gas Ltd case – Court held that company did not keep proper books of account where
there were no invoices for €515,855 of “cash debtors” owing at the date of liquidation. The
director was held personally liable and banned for 8 years.
Audit
Larger private companies (balance sheet total of more than €25 million or turnover of more
than €50 million) must have an audit committee, with at least one non-executive director
with relevant experience, or explain why they do not
The audit exemption for smaller companies has been extended so that it will apply to a wider
range of companies and will also now be available to Groups and CLGs.
Dormant companies may also now be audit exempt
Directors Compliance Statement
9 All PLCs must include a statement on compliance with tax law, company law and certain
other laws, in their director’s report – s.225
Private companies (including both LTDs and DACs) must also include such a report where
their balance sheet total is more than €12.5 million and turnover more than €25 million.
The directors must demonstrate that the company has a policy on compliance and has in
place structure and arrangements to ensure compliance.
Summary Approval Procedure
New procedure for effecting various restricted transactions such as;
o Voluntary Winding Up
o Approval of Financial Assistance
o Statutory Merger
o Loans to Directors
o Reduction in Capital
Effectively replaces the old ‘whitewash’ procedure
This will generally involve
o a declaration of solvency
o Shareholders’ Special Resolution (at least 75% approval – unanimity required for
mergers)
o Auditor’s Report (in some cases only)
o Filing of declaration in CRO within 21 days and special resolution with 15 days
Directors may be liable for all liabilities of the company where declaration is given without
reasonable grounds
Auditor’s Report relaxes requirement – no longer need to state that declaration was
reasonable, merely that it is not unreasonable
Borrowings & Security
Includes a broader definition of a charge
Priority of Security will be by reference to time of filing in CRO rather than date of creation of
the charge
Persons taking security may notify intention to create a charge; this will fix priority until
particulars of charge are formally filed within 21 days
Wider range of charges will now have to be filed – including charges over cash
Financial assistance provisions have been relaxed by the removal of the words “in connection
with” from the definition
Winding Up & Enforcement
Liquidators and Examiners now need appropriate qualifications
Powers of Receivers set out in s.437
No material change to examinership
The law relating to winding up has been consolidated
o S.569 outlines the circumstances in which a company may be wound up, including
new criteria of “when winding up is in the public interest”
o Minimum indebtedness for a creditor to petition increased from £1,000 to €10,000
Voluntary basis for strike off has been put on formal footing, although no major changes
Four new categories of offences created – Category 1 is the most serious (€500,000 fine and
up to 10 years imprisonment) and Category 4 is the least serious (€5,000 fine and no threat of
imprisonment)
Directors of insolvent companies may avoid going to court by voluntarily electing to have a
restriction or disqualification order imposed.
10 New implications for directors of failed companies – cannot simply walk away and leave
company to be would up involuntarily
o The ODCE is increasing its prosecution of directors of such companies, which are set
to grow in 2015 as corporate compliance comes under the spotlight
o Heavy sentences and up to 12-year disqualifications are being prescribed
o The Act, together with other legislation, allows for the piercing of the corporate veil
in certain circumstances to make directors personally liable
Financial Statement & Filing Requirements
The Act preserves the choice for companies whereby they may elect to prepare their financial
statements under either of two financial reporting frameworks.
o S.291 of the Act – balance sheet and profit and loss account – Schedules 3 & 4
o International Financial Reporting Standards
Now required to keep, establish and maintain adequate ‘accounting records’ replaces to
previous requirement to ‘maintain books of account’
Clarifies that members have no general right of access, although directors are now under a
statutory duty to consider whether this limited access regime should be relaxed
A company may now only change its financial year once in every five years, and it may no
longer exceed 18 months
Except in limited circumstances, a holding company must ensure that the financial year-end
dates of any subsidiaries included in its group accounts coincide with the year end of the
holding company
Chapter 17 introduces a new feature whereby financial statements that do not comply with
the requirements of the Act may be revised and resubmitted, notwithstanding that they were
laid before the members at the AGM. This was not previously possible.
Audit Exemption
Chapter 15 introduces a number of changes to the audit exemption regime
A company may now avail of the exemption where it fulfils two of the following conditions;
o Turnover does not exceed €8.8 million
o Balance sheet does not exceed €4.4 million
o Average number of employees does not exceed 50
Under the former law, a company had to satisfy all three requirements
Under the former law, a company has to satisfy the conditions both in the current and former
financial year
The audit exemption has also been extended to include CLGs, unless any one member
objects
Chapter 16 introduces a new audit exemption for dormant companies that form part of a
group;
o The company must not have had any significant accounting transaction in the
relevant financial year
o Its only assets and liabilities are represented by shares or an amount due to or from
other group undertakings
Small and medium sized companies may only avail of an audit exemption where limited
abridged financial and accounting information is required to be attached to its annual return
o A company is small if it satisfied 2 of the above 3 criteria
The thresholds for a ‘medium’ company have been increased;
o Turnover limit up from €15.2m to €20m
o Balance sheet limited up from €7.6 to €10m
o Number of employees must not exceed 250
New option for companies to apply to District Court under s.343 to extend the audit
exemption date where they are late filing statutory returns
11ISSUES TO BE ADDRESSED BY COMPANIES
What Needs to be Done Why? How Regan Solicitors can Help
Review Group Structure Identify dormant and superfluous We can assist in any review of corporate
companies with a view to winding them structure help you to assess and decide
up pre-commencement to avoid the cost whether such companies should be wound up
and administrative burden of re- or re-registered as LTD or DAC companies.
registration In particular, we can help you to identify where
prior bank or third party consent to changes to
the corporate structure or constitution is
required.
We can review the activities of the company or
various companies within the group, and the
contracts to which they are bound such as
banking and credit/ finance arrangements.
Review the current To assess whether they are fit for We can review your Memorandum & Articles
Memorandum and Articles of purpose under the Act, and whether of Association in light of the new legislation,
Association they conflict with any mandatory giving particular attention to both the
provisions under the Act. mandatory requirements under the Act and
It is important that your company has an any particular provisions of the present Mem &
effective constitution going forward, and Arts which you may wish to incorporate.
is not left in a situation where it is bound Having done so, we can then prepare a new
by default provisions which are not constitutional document for your approval and
suited to its business. adoption.
Assess whether your The thresholds have changed and failure On a review of the appropriate documentation
company is eligible for the to address the issue may result in we can advise you in light of the new legislative
new Audit Exemption unnecessary administrative costs being requirements.
Thresholds incurred
Ensure that all company Directors Duties have now been codified We can provide you with concise and clear
directors are aware of their and specific offences set out. It is advices in respect of all duties owed, and
statutory duties important to be aware of same in light of ensure that both company and directors are
the penalties sanctioned by the new Act. fully compliant with the new legislation.
In particular, we can assess whether your
company falls within the threshold for
application of the new Directors’ Compliance
Statement, which is an important new aspect
of corporate governance and compliance
introduced by the Act.
Ensure that a person with Directors now have a statutory duty to We can advise as to the statutory requirements
requisite experience and ensure that this requirement is satisfied of the office of Company Secretary.
knowledge is acting as
Company Secretary
12Review your current In light of the new legislation, existing We can review your standard documents, such
corporate practices and templates may be outdated and as for the holding of board and members’
template documents inadequate for the purposes of strict meetings and resolutions, and advise as to the
compliance amendments that need to be made to bring
them up-to-date and compliant.
Review your standard Again, these documents will need to be Regan Solicitors’ vast experience in contract
contract documents, terms & updated to ensure good corporate law combined with their appreciation of the
conditions governance is maintained nuances involved with the new Companies Act
ensures that you can received the most
efficient and comprehensive advices in this
area.
Review your current To identify any knock-on changes that In conjunction with our review of company or
company websites, may be required as a result of the new group activities and corporate governance, we
letterheads, signage, Act and any corporate re-structuring, re- can assess and identify those areas in which
company seals, business registering or administrative changes further changes may be required.
cards, IP, product packaging. that have been implemented
Review your current The Act introduces many simplified We can review your present procedures and,
corporate governance corporate governance procedures and with reference to the Act, identify those areas
procedures your company may be able to increase in which you may be able to make changes and
its efficiencies by making changes to take put in place simplified corporate governance
advantage of same structures, such as single director boards,
dispensing with physical AGMs, and providing
for notice by e-mail.
Consider whether your These type of transactions or We can review all proposed transactions and
company or group has any restructuring may be facilitated or advise whether deferring some during the
transactions of re- simplified under the new legislation, transition period may benefit the company
organisations planned for the such as by use of the new Summary
immediate future. Approval Procedure for capital
reductions for example.
Identify any unlimited These may need to either apply for a We can guide you through the process where
companies or companies change of name or for Ministerial necessary
limited by guarantee exemption from the new naming rules
under the Act.
13LEGAL AUDIT PACAKGES FOR COMPANIES
CORPORATE GOVERNANCE From €500.00
The Companies Act 2014 was written into law on the 1st of June 2015. The Act introduces a
number of significant changes to company law in Ireland, both regulatory and
administrative. It is vital that companies and their boards of directors are fully aware of these
changes for two principal reasons;
1) To ensure that your company can take advantage of the array of new measures
introduced which are aimed at making it easier for companies to do business. Until
you address the changes made by the Act, your company could be losing out on these
opportunities and spending unnecessary sums on company administration.
2) As with any Act as substantial as the 2014 Companies Act, wholesale changes have
been made to the corporate governance and compliance regime in Ireland. It is
incumbent of company directors and secretaries to fully familiarise themselves with
these changes to ensure that their company does not incur unnecessary penalties and
associated legal fees.
Regan Solicitors specialise in corporate and commercial law. We are ideally placed to assist
you and your company in negotiating this transition period. We have put together a package
designed to ensure that your company can make the smooth transition from the old regime
to the new. In particular, we can provide guidance as to the following key issues;
Deciding which new company form your company should take – LTD or DAC?
Memorandum and Articles of Association are now being replaced by a single
Company Constitution document. We can review your present Memorandum &
Articles of Association with a view to providing a tailored constitutional document for
use going forward.
Reviewing your corporate group structure to provide advices as to the new Audit
Exemption thresholds.
Providing detailed advices as to the reformed and now codified directors’ duties and
company secretary duties to ensure ongoing compliance with the legislation.
Reviewing all corporate documents to ensure compliance and synchronisation with
the new legislation and company form taken.
Reviewing your corporate governance procedures with a view to maximising
efficiencies in light of the new, more business-friendly regime being introduced.
14LEGAL AUDIT PACAKGES FOR COMPANIES
CONTRACT LAW From €500.00
With the new Company Law regime in place, now is the ideal time to undertake a root-and-
branch review of your suite of corporate documentation.
Perhaps the most critical document which any company will rely upon is the contract. Yet
often very little time is spent reviewing the terms and conditions of contracts before signing.
This is one of the most frequent causes of costly litigation, and yet the grounds of dispute are
often both foreseeable and avoidable.
Regan Solicitors can assist you in undertaking a comprehensive review of all of your key
contracts to ensure that your company is adequately protected, and that the contract in fact
provides for what you originally intended.
Specifically, we can review and recommend appropriate amendments to;
Supplier Contracts
Purchaser Contracts
Distributor Contracts
Consumer Contracts
Service Level Agreements
In addition, and perhaps in conjunction with our Employment Audit Service, we can review
the vital contract documents in this area including;
Consultancy Agreements
Director Contracts
Keyman Contracts
If you would like the security of knowing that the key contracts upon which your company is
based are adequate and fit-for-purpose; or if you would like an independent analysis of the
rights, duties and obligations which such a contract places on the parties, contact us to
discuss how Regan Solicitors can provide peace of mind to your business.
15LEGAL AUDIT PACAKGES FOR COMPANIES
EMPLOYMENT LAW From €500.00
Any company involved in the employment of staff should be aware of the menagerie of
legislation to which they are automatically bound, irrespective of the terms of any
employment contract. There are currently over 20 primary pieces of legislation, covering
everything from hiring to firing.
Almost every action taken by an employer has the potential to give rise to liability in
employment law, and the cost of ignorance of the legislative provisions, or even mere
inadvertence, can be significant. As an indicator, most breaches of the main duties are
punishable by an award of compensation of up to 2 years remuneration.
To avoid potential liability, it is strongly advisable to have appropriate and well drafted
employment documentation. Regan Solicitors have many years’ experience in this area,
advising both employers and employees, and would be delighted to assist you in the
following areas;
Drafting and Reviewing Employee Handbook;
Drafting and Reviewing Employment Contracts;
Employment Advices
Drafting and Reviewing Safety Statements
Drafting and Reviewing Grievance and Disciplinary Policies
Where there is current litigation in being involving employees or former employees, it may
be that same has arisen by virtue of a failure to consider the above matters. In such cases,
clearly, a review and redrafting exercise is not going to remedy this problem.
Again, however, Regan Solicitors bring many years of experience in resolving employment
disputes, and would be happy to provide commercially-minded advices as to the best means
of reaching resolution.
In addition, if your company is contemplating terminating employment, hiring staff, or
transferring employees from one undertaking to another, Regan Solicitors can help to guide
you through the muddy waters involved, advising as to your statutory obligations at every
stage.
16LEGAL AUDIT PACAKGES FOR COMPANIES
I.T. & DATA PROTECTION From €500.00
As commerce becomes ever more digitised, it is vital that companies keep on top of the fast pace of
the burgeoning law in this area.
As an example, if your business is engaged in selling goods or providing services over the internet,
your operations will be governed by the Distance Selling Regulations. We would be delighted to
undertake a complete review of your business, highlight each area in which e-commerce legislation
applies.
Similarly, Data Protection is now becoming an issue that no business can ignore, whatever its size.
The Data Protection Commissioner investigates a huge number of complaints against small to
medium sized companies annually, while at the same time has been at the centre of an investigation
involving Google and Facebook.
Regan Solicitors can provide you with the benefit of their experience in advising clients as to their
duties and obligations as both Data Controllers and Data Processors. One way of ensuring that your
company is fully compliant in this area is by drafting and implementing a well-structured Data
Protection Policy, and we would be delighted to work with you to this end.
Going hand-in-hand with the issue of data protection is the matter of privacy policies and website
privacy statements. It is vital for any business with a website to be compliant with the law in this area,
and Regan Solicitors have drafted numerous such documents and Cookies Policies for clients.
LEGAL AUDIT PACAKGES FOR COMPANIES
INTELLECTUAL PROPERTY From €500.00
The value of intellectual property rights is often overlooked by businesses, to the detriment of the
company’s balance sheet. More often than not, such oversight is borne out of a lack of awareness of
the very existence of such rights, rather than any wilful neglect.
However, simple awareness of the existence of such rights is only one half of the issue. Perhaps of
greater importance is the manner in which such rights are then protected. In the event that your
company has potential IP value, it is essential that steps are taken to protect such rights to allow for
their rightful exploitation and to prevent unlawful third party use and enjoyment.
Intellectual Property Law is a particularly niche and complicated area of the law, yet companies
should not be discouraged from enlightening themselves by this fact.
Regan Solicitors would be delighted to undertake an audit of your business and corporate structure
to identify all rights which may exist and thereafter to advise as to the most appropriate manner in
which they may be protected.
Regan Solicitors have acted for both medium enterprises and large multinationals in registering
trademark applications and both enforcing and defending claims based on IP rights. If you believe
that your company may have any design rights, trade marks, copy rights, contact Regan Solicitors for
further advice and to discuss how we may be able to assist.
17LEGAL AUDIT PACAKGES FOR COMPANIES
LITIGATION AND LEGAL From €500.00
Unfortunately it is virtually impossible for any business to avoid becoming involved in
litigation, which has become a commercial reality. The cost of poor advice or slow response
can impact heavily, not only on your company’s balance sheet, but also in terms of business
and commercial reputation.
Regan Solicitors have built their practice around the ability to offer commercially minded
advice designed to ensure that long term litigation is an option of last resort. While we will
fight steadfastly to protect your interests, with our background in alternative dispute
resolution we are equally adept at extracting clients from disputes which carry the risk of
significant financial loss.
The key to our success in this arena is a willingness to engage with our clients to identify
precisely what they wish to achieve, and an ability to always keep commercial realities at the
forefront of both instructions and advice.
As we believe that the best lawyer is one who manages to keep his/ her clients out of court,
rather than simply winning pyrrhic victories in it, Regan Solicitors are proud to offer a unique
litigation risk assessment audit to your business. As part of this ‘internal due diligence’
service, we will meet with you to discuss your business and its operations in depth,
identifying all areas in which your business is leaving itself open to potential claims and
disputes.
In all areas of litigation, from employment and public procurement disputes to contract and
commercial leasehold litigation, Regan Solicitors are also happy to review your on-going
disputes by way of providing an independent expert second opinion.
What is key to the services offered by Regan Solicitors is the fact that we do not seek to usurp
your company’s existing professional advisors, but to complement them by way of no-
obligation review.
18TAILORED LEGAL AUDIT SERVICES
SUMMARY & PRICING STRUCTURE
Package Issues Covered Services Provided Price(from)
Advise on New Form Companies –
Companies Act 2014 which should you register as?
Corporate Governance Review of Existing Mem & Arts €500.00
Review Compliance Procedures Drafting of New Constitutions
Directors’ Liability Advices
Material Contracts Review of Contracts
Supplier Contracts Terms & Conditions
Purchaser Contracts Enforceability Advices
Distributor Contracts Contract Dispute Advices €500.00
Contract Law Consumer Contracts
Service Level Agreements Keyman Contracts
Specific Employment Contracts Consultancy Agreements
Director Contracts
Employee Handbook Review
Employment Contracts Drafting
Employment Law Employment Advices Recruitment; €500.00
Safety Statements Redundancy
Dismissal
Statutory Rights
Leave/ Remuneration
Privacy Policies & Statements Review & Drafting
I.T. & Date Protection Website Terms & Conditions Audit & Compliance Advices
Data Protection Statutory Duties – Advices €500.00
E-Commerce
Intellectual Property Review of IP Assets Securing IP Rights – Advices
Review Enforcement of IP Rights Registration Applications €500.00
Ongoing Disputes No-Obligation Review of Third Party
Anticipated Claims Advices
Litigation & Legal To Complement existing Advisors, €500.00
not Displace
Provision of Independent Expert 2nd
Opinion
19© REGAN SOLICITORS 2015
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