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Resigning as director of an Irish company?

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  • 18-05-2016 10:44pm
    #1
    OU812
    Registered Users Posts: 6,050 ✭✭✭


    Does anyone know what the situation is with resigning as director of an Irish company?

    I know there did have to be two directors (which this was), but I believe the law was changed last year so a limited company could be just one person.

    Is it possible to resign as part of a 2 director company to leave it as a 1 director company?


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    #2
    pedroeibar1
    Closed Accounts Posts: 5,108 ✭✭✭pedroeibar1


    It is possible but quite a few issues need to be addressed first – The Co. must be converted to the new ‘LTD’ format first, all changes that require a quorum must first be done, and remember that in a single director company the director cannot also be the Company secretary.


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    #3
    OU812
    Registered Users Posts: 6,050 ✭✭✭OU812


    The company is a Ltd already. Does this make a difference (i.e. is there two types of Ltd.)?


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    #4
    pedroeibar1
    Closed Accounts Posts: 5,108 ✭✭✭pedroeibar1


    Yes, they are different - the old companies (multi-director) are Ltd and the new one director company is styled LTD. Also, I should mention that since the new Act the Co. Sec is now required to acknowledge the legal obligations/duties that come with the role, and the directors are responsible to ensure that the Co Sec has the requisite skills.

    You can be pro-active and do the Ltd/LTD change yourself or slip into it at the end of this year. See HERE


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    #5
    OU812
    Registered Users Posts: 6,050 ✭✭✭OU812


    Much obliged


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    #6
    MrCostington
    Registered Users Posts: 1,268 ✭✭✭MrCostington


    What pedroeibar1 is correct, I converted my company back in March, your accountant can do it for you, there are just a few forms to sign.

    My situation was opposite to you, my co director actually has nothing to do with the company, was just there to make up the required 2 directors so he was able to resign.

    The company will need a secretary. Im my case, my accountant kindly offered to fill that role - that may help your case.


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