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Administrative fines

The Registrar of Companies (the “Registrar”) shall impose administrative fines for late filling of the below notifications to the Registrar, effective as of 19 December 2019:

1. allotment of shares;
2. change of registered office;
3. changes to the particulars contained in the company’s register of directors and secretaries; and
4. transfer of shares.

Penalties

Failing to submit the necessary notification within the set time frames the penalties provide the below fine:

• For failing to submit the necessary filings indicated in points 1 – 4 above: €50; with an additional €1.00 for each day of continuation of the delay with a maximum of a total penalty of €250 for each delay.
• We therefore draw your attention to the penalties for the late filing of annual returns forms that apply to companies which have not yet prepared audited financial statements for all years up until 2018 and as such, have not yet filed annual returns for all years up until 2019. The applicable administrative fine is €50; with an additional charge of €1.00 for each day of continuation of the delay in the first 6 months, and a further financial charge of €2.00 for each day thereafter with a maximum total penalty of €500 for each delay.

For any questions please contact our Corporate department, which is ready to discuss the above developments with you.