INVESTMENT FUNDS, COMPANIES AND MISCELLANEOUS PROVISIONS ACT 2006


Number 41 of 2006


INVESTMENT FUNDS, COMPANIES AND MISCELLANEOUS PROVISIONS ACT 2006

REVISED

Updated to 1 June 2015


This Revised Act is an administrative consolidation of the Investment Funds, Companies and Miscellaneous Provisions Act 2006. It is prepared by the Law Reform Commission in accordance with its function under the Law Reform Commission Act 1975 (3/1975) to keep the law under review and to undertake revision and consolidation of statute law.

All Acts up to and including Criminal Justice (Terrorist Offences) (Amendment) Act 2015 (17/2015), enacted 1 June 2015, and all statutory instruments up to and including National Treasury Management Agency (Delegation of Claims Management Functions) Order 2015 (S.I. No. 237 of 2015), made 3 June 2015, were considered in the preparation of this Revised Act.

Disclaimer: While every care has been taken in the preparation of this Revised Act, the Law Reform Commission can assume no responsibility for and give no guarantees, undertakings or warranties concerning the accuracy, completeness or up to date nature of the information provided and does not accept any liability whatsoever arising from any errors or omissions. Please notify any errors, omissions and comments by email to

revisedacts@lawreform.ie.


Number 41 of 2006


INVESTMENT FUNDS, COMPANIES AND MISCELLANEOUS PROVISIONS ACT 2006

REVISED

Updated to 1 June 2015


Introduction

This Revised Act presents the text of the Act as it has been amended since enactment, and preserves the format in which it was first passed.

Related legislation

This Act is not collectively cited with any other Act.

Annotations

This Revised Act is annotated and includes textual and non-textual amendments, statutory instruments made pursuant to the Act and previous affecting provisions. A version without annotations, showing only textual amendments, is also available.

An explanation of how to read annotations is available at

www.lawreform.ie/annotations.

Material not updated in this revision

Where other legislation is amended by this Act, those amendments may have been superseded by other amendments in other legislation, or the amended legislation may have been repealed or revoked. This information is not represented in this revision but will be reflected in a revision of the amended legislation if one is available.

Where legislation or a fragment of legislation is referred to in annotations, changes to this legislation or fragment may not be reflected in this revision but will be reflected in a revision of the legislation referred to if one is available.

A list of legislative changes to any Act, and to statutory instruments from 1999, may be found linked from the page of the Act or statutory instrument at

www.irishstatutebook.ie.

Acts which affect or previously affected this revision

Companies Act 2014 (38/2014)

Central Bank Reform Act 2010 (23/2010)

National Asset Management Agency Act 2009 (34/2009)

Civil Law (Miscellaneous Provisions) Act 2008 (14/2008)

Markets in Financial Instruments and Miscellaneous Provisions Act 2007 (37/2007)

Central Bank Act 1942 (22/1942)

Statutory Declarations Act 1938 (37/1938)

All Acts up to and including Criminal Justice (Terrorist Offences) (Amendment) Act 2015 (17/2017), enacted 1 June 2015, were considered in the preparation of this revision.

Statutory instruments which affect or previously affected this revision

Transparency (Directive 2004/109/EC) (Amendment) (No. 2) Regulations 2012 (S.I. No. 316 of 2012)

Transparency (Directive 2004/109/EC) (Amendment) Regulations 2012 (S.I. No. 238 of 2012)

Transparency (Directive 2004/109/EC) (Amendment) Regulations 2010 (S.I. No. 102 of 2010)

Transparency (Directive 2004/109/EC) Regulations 2007 (S.I. No. 277 of 2007)

Investment Funds, Companies and Miscellaneous Provisions Act 2006 (Commencement) Order 2007 (S.I. No. 23 of 2007)

All statutory instruments up to and including National Treasury Management Agency (Delegation of Claims Management Functions) Order 2015 (S.I. No. 237 of 2015), made 3 June 2015, were considered in the preparation of this revision.


Number 41 of 2006


INVESTMENT FUNDS, COMPANIES AND MISCELLANEOUS PROVISIONS ACT 2006

REVISED

Updated to 1 June 2015


ARRANGEMENT OF SECTIONS

PART 1

Preliminary and General

Section

1. Short title, collective citation and construction.

2. Commencement.

3. Definitions.

4. Orders and regulations.

5. Expenses.

PART 2

Amendments of Companies Acts

6. Statutory declarations for purposes of Companies Acts.

7. Amendment of section 33 of Companies Act 1963.

8. Amendment of section 21 of Companies (Amendment) Act 1983.

9. Exemption from audit requirement.

10. Application of section 9 and transitional provisions.

11. Restrictions on, and disqualifications of, persons from acting as directors, etc.

12. Dematerialisation.

13. Amendment of section 43 of Act of 2005.

14. Amendment of section 45 of Act of 2005.

15. Amendments of Act of 2005 consequential on amendment made by section 14.

16. Amendment of section 9 of Companies (Auditing and Accounting) Act 2003.

17. Amendment of section 10 of Companies (Auditing and Accounting) Act 2003.

18. Amendment of section 29 of Companies (Auditing and Accounting) Act 2003.

PART 3

Transparency Requirements Regarding Issuers of Securities Admitted to Trading on Certain Markets

19. Interpretation ( Part 3 ).

20. Power to make certain regulations.

21. Conviction on indictment of offences under transparency (regulated markets) law.

22. Supplementary rules, etc., by competent authority.

23. Amendment of section 33AK of Central Bank Act 1942.

24. Application of transparency (regulated markets) law to certain markets.

PART 4

Miscellaneous

25. Amendment of section 1 of Act of 1997.

26. Amendment of section 2 of Act of 1997.

27. Further amendment of section 2 of Act of 1997.

28. Amendment of Act of 1997 — insertion of new section 2B.

29. Amendment of section 8 of Act of 1997.

30. Amendment of Schedule to Act of 1997.

31. Revocation of S.I. No. 87 of 2001.

32. Amendment of European Communities (Takeover Bids (Directive 2004/25/EC)) Regulations 2006.

33. Amendment of Consumer Information Act 1978.

34. Amendment of sections 33C and 33AN of, and Schedule 2 to, Central Bank Act 1942.

35. Amendment of Netting of Financial Contracts Act 1995.



Number 41 of 2006


INVESTMENT FUNDS, COMPANIES AND MISCELLANEOUS PROVISIONS ACT 2006

REVISED

Updated to 1 June 2015


AN ACT TO AMEND AND EXTEND THE COMPANIES ACTS, THE IRISH TAKEOVER PANEL ACT 1997, THE CENTRAL BANK ACT 1942, THE CONSUMER INFORMATION ACT 1978 AND THE NETTING OF FINANCIAL CONTRACTS ACT 1995, TO PROVIDE FOR THE IMPLEMENTATION OF DIRECTIVE 2004/109/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 15 DECEMBER 2004 AND TO PROVIDE FOR RELATED MATTERS.

[24 th December, 2006]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: