Conversion to DAC company from Private Limited Company is available after 01 June 2015.
A Designated Activity Company:
- It must have a least two directors.
- It can have between 1 and 149 members.
- It does need to hold an AGM where it has 2 or more members.
- It has a constitution document which includes a memorandum and articles of association.
- It has a memorandum in its constitution which states the objects for which the company is incorporated.
- It can claim eligibility for audit exemption and dormant company audit exemption.
- It has limited liability and has a share capital or is a private company limited by guarantee with a share capital.
- It can pass majority written resolutions unless constitution states otherwise.
- Name must end in “Designated Activity Company” or “Cuideachta Ghníomhaíochta Ainmnithe” unless qualified for an exemption.
Conversion to DAC company from Private Limited Company
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Conversion to DAC company from Private Limited Company is available from June 01st 2015. EPCs may wish to convert to this company type if they wish to have or retain specific objects for which the company was incorporated.