Section 225 of the Companies Act 2014 in Ireland requires that a company must keep a register of its members and must enter in it the following details: the names and addresses of the members, the date on which each person was registered as a member, and the date on which any person ceased to be a member.
Section 225 of the Companies Act 2014 in Ireland requires that every company must maintain a register of its members. This register must contain the names and addresses of all members, the date on which each person was registered as a member, and the date on which any person ceased to be a member. Failure to comply with this requirement can result in penalties and fines for the company and its officers.
The purpose of this requirement is to ensure that companies have an accurate record of their members and their shareholdings. This information is important for a number of reasons, including for the purposes of voting, dividend payments, and communication with shareholders. It also helps to prevent fraud and ensure that the company is complying with its legal obligations.
There have been a number of cases in Ireland that have dealt with the issue of maintaining a register of members. In Re Tivoli Dairies Ltd [1965] I.R. 1, the court held that failure to maintain a register of members was a serious breach of the Companies Acts and could result in the company being wound up. In Re Irish Press Ltd [1986] I.L.R.M. 1, the court held that the register of members must be kept up to date and accurate, and that failure to do so could result in penalties.
More recently, in Re Celtic Bookmakers Ltd [2012] IEHC 174, the court held that failure to maintain a register of members was a breach of the Companies Acts and could result in the company being struck off the register. The court also noted that maintaining an accurate register of members was essential for the proper functioning of the company.
In addition to these cases, there have been a number of judgments that have dealt with specific issues related to maintaining a register of members. For example, in Re S & L Investments Ltd [2013] IEHC 327, the court held that a company must keep a record of the beneficial owners of its shares, even if those owners are not registered as members. This decision highlights the importance of maintaining accurate records of all shareholdings, not just those that are registered in the name of the shareholder.
Overall, it is clear that maintaining a register of members is a crucial requirement for companies in Ireland. Failure to comply with this requirement can result in serious consequences, including penalties, fines, and even the winding up of the company. Companies must ensure that their register of members is accurate and up to date at all times, and that they are complying with all relevant legal requirements.