The Companies Act 2014, enacted on 23rd December 2014 and to come into force on 1 June 2015, makes significant changes to the perfection and priority of charges created by companies in Ireland including:

  • The introduction of reformed priority rules which use the date of registration, rather than that of creation to determine priority;
  • The introduction of a new procedure for registering charges 21 days in advance of their creation alongside the existing procedure of filing after a charge has been created.

Relevant materials:

Companies Act 2014

N McGrath, ‘The company charge register in Ireland: some reflections on the reform proposals in the Companies Consolidation and Reform Bill 2012’ [2013] Journal of Business Law 303.