Reregistration from a PLC to Private Limited by Shares

For Companies in Ireland, the process of changing a company’s status from a Public Limited Company (PLC) to a Private Limited Company, be it a DAC or an LTD, can hold great significance. This transformation, governed by Part 20 of the Companies Act 2014, is designed to provide a different level of structure and flexibility to your business. Here’s a simplified view of why this transition might be necessary and the steps involved, all while considering the Companies Act 2014, the Companies Registration Office (CRO), and the Revenue Commissioners:

Why Transition from PLC to Private Limited by Shares?

Companies may find themselves in situations where they need to change the structure and status of their company. Transitioning to a Private Limited Company, whether a DAC or an LTD, offers a different corporate structure that can be more suitable for their evolving business needs.

The Legal Framework

The process of changing a company’s status from a PLC to a Private Limited Company is regulated by Part 20 of the Companies Act 2014. This legal framework outlines the steps and requirements for this transition.

Steps for Transition

1. Board of Directors Meeting: Start by convening a meeting of the Board of Directors. During this meeting, the board discusses the conversion and plans to call an Extraordinary General Meeting (EGM) of the Members to pass the necessary resolutions. Alternatively, these resolutions can be passed in writing.

2. EGM or Written Resolution: The Extraordinary General Meeting of the Company is convened, or a Written Resolution is executed. During this meeting or resolution, the company makes the necessary alterations to its Constitution. This includes adopting a new Constitution that aligns with the requirements of a Private Limited Company, be it a DAC or an LTD. Additionally, the EGM authorizes a Director and the Company Secretary to make an application to the Registrar of Companies for re-registration.

3. Submission to CRO: Once all these steps are completed, and the necessary Special Resolutions have been passed, the relevant documents are submitted to the Companies Registration Office (CRO). This submission should take place within 15 days of passing the Special Resolutions.

4. CRO Processing: The CRO processes the submission, and upon approval, they issue a Certificate of Incorporation for the re-registration.

How We Can Assist

Transitioning from a PLC to a Private Limited Company, whether it’s a DAC or an LTD, is a complex process, especially when you’re running a company. We specialize in assisting startups with the legal and administrative aspects of this transition.

Our comprehensive service covers all the necessary steps for re-registration, ensuring compliance with the Companies Act 2014 and other relevant regulations. We understand that for startups, simplicity and efficiency are paramount, and we ensure the process is as smooth and stress-free as possible.

We offer a tailored package for changing your company’s status, covering all essential procedures. If you have questions or need further information, feel free to reach out to our dedicated team of professionals. We’re here to support your company’s journey towards success, no matter which corporate structure you choose.