Army

westwicklow

Are members of army legally allowed to be shareholders/directors in limited companies? Among the older members of my community, they seem very convinced of their answer but nobody is certain.

Victor

Shareholders definitely yes. Directors probably - although time available has obvious constraints. I imagine you need to check the Defence Acts and Companies Acts.

Jo King

There is no ban per se but it depends on the facts. The main legal handicap appears to be Section 168 of the Defence Act. There is a ban on "conduct prejudicial to good order and military discipline". This is assumed to cover both financial, social and sexual relationships between members of the defence forces. It is considered objectionable for members of the Defence Forces to have close financial and social relations with superior or inferior members. If a member of the defence forces is a business partner of his commanding officer, there is likely to be resentment from other members of the unit and the possibly a lack of dedication to duty.
Members of the Defence Forces also tend to be abroad for lengthy periods of time. This makes it difficult to comply with obligations under company law to be aware of the affairs of the company.

ro95

I think a contract must be signed to prevent this, i may be mistaken...