COMPANIES ACT 1963 - SECT 74 Order confirming reduction and powers of court on making such order.

74.—(1) The court, if satisfied in relation to every creditor of the company who, under section 73, is entitled to object to the reduction, that either his consent to the reduction has been obtained or that his debt or claim has been discharged or has determined, or has been secured, may make an order confirming the reduction on such terms and conditions as it thinks fit.

(2) Where the court makes any such order, it may—

( a ) if for any special reason it thinks proper so to do, make an order directing that the company shall, during such period, commencing on or at any time after the date of the order, as is specified in the order, add to its name as the last words thereof the words "and reduced" or where the word "teoranta" is part of such name, the words "agus laghdaithe",

( b ) make an order requiring the company to publish as the court directs the reasons for reduction or such other information in regard thereto as the court may think expedient, with a view to giving proper information to the public, and, if the court thinks fit, the causes which led to the reduction.

(3) Where a company is ordered to add to its name the words "and reduced", or the words "agus, laghdaithe" those words shall, until the expiration of the period specified in the order, be deemed to be part of the name of the company.

Irish Company Order Irish Company Namecheck
Ireland Key Points
  • Only 2 to 3 days to incorporate.
  • Directors can be of any EU nationality.
  • Only 1 shareholder required.
  • 100% overseas shareholders allowed.
  • Equal treatment for domestic and foreign shareholders.
  • No obligation requiring Irish participation in the management of your company.
  • Share Capital requirement is only €100.
  • Exemption for 3 years from Corporation Tax if your taxable profits are less than €320,000.
  • Low Corporation Tax of 12.5%.
  • We are members of the Irish Companies Registration Office electronic filing scheme.
  • We provide you with full expert assistance throughout every step of the company formation process.