IMPLICATION OF THE EUROPEAN UNION (SHAREHOLDERS’ RIGHTS) REGULATIONS 2020 ON THE COMPANIES ACT 2014 (“CA2014”)
On 30 March 2020 the European Union (Shareholders’ Rights) Regulations (“the Regulations”) came into force in Ireland. The Regulations give effect to the Shareholders Rights Directive (EU) 2017/828.
The objective of the Regulations is to increase corporate transparency and shareholder engagement in the long term and has introduced 4 new Chapters into Part 17 of CA2014 (Chapters 8A to 8D). The majority of the Chapters commenced immediately with Chapter 8A which imposes an obligation on shareholding intermediaries to transmit information about share ownership and to facilitate the exercise of rights attached to the shares taking effect from 3 September 2020.
A link to the Regulations can be found here.
A revised version of CA2014 which includes the Regulations and all amendments made to the CA2014 from enactment up to 30 March 2020 is available from the Law Reform Commission website here.