Template:Charges in ireland: Difference between revisions
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==={{t|Ireland}}=== | ===Registering [[charge]]s in {{t|Ireland}}=== | ||
The Irish Financial Collateral Arrangement Regulations provide that certain types of charges do not need to be registered including those created over | The Irish ''Financial Collateral Arrangement Regulations'' provide that certain types of charges do not need to be registered including those created over | ||
:(a) [[cash]]<ref>I know, I know. You can’t take [[security]] over [[cash]]. But if you try, then even if you could, you couldn’t, unless you registered your attempt. But since you can’t ... I’ll get my coat.</ref>; | :(a) [[cash]]<ref>I know, I know. You can’t take [[security]] over [[cash]]. But if you try, then even if you could, you couldn’t, unless you registered your attempt. But since you can’t ... I’ll get my coat.</ref>; | ||
:(b) deposits and money credited to bank account; | :(b) deposits and money credited to bank account; | ||
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:(e) claims and rights (such as dividends or interest) over any of the above. | :(e) claims and rights (such as dividends or interest) over any of the above. | ||
However, warns Matheson,<ref>[https://www.matheson.com/images/uploads/publications/Companies_Act_2014_Registration_and_Priority_of_Charges_June_2015.doc.pdf “The Companies Act 2014: Registration and Priority of Charges”]</ref> the registrar tends to take a conservative approach to excluding charges from the registration requirement on account of the Financial Collateral Arrangement Regulations, so you may still find Irish [[espievie]]s counsel wishing to go through the pantomime of registering charges with the Irish Registrar of Companies, notwithstanding the Emerald Isle’s continued membership of the [[European Union]], and implementation of its buzz-killing [[Financial Collateral Directive]], thanks to some law changes in 2015.<ref>“... Charges over all categories of assets are now registerable save for certain specific exclusions (including, for example, a charge created over an interest in cash or in shares in an Irish company). Thus, particulars of every charge created by a company over any property need to be delivered to the CRO, save for charges over non-registerable assets.” — [https://www.lawsociety.ie/Solicitors/Practising/Practice-Notes/Priority-and-registration-of-charges/#.XdusMtWwmiM Irish Law Society bulletin].</ref><br> | However, warns Matheson,<ref>[https://www.matheson.com/images/uploads/publications/Companies_Act_2014_Registration_and_Priority_of_Charges_June_2015.doc.pdf “The Companies Act 2014: Registration and Priority of Charges”]</ref> the registrar tends to take a conservative approach to excluding charges from the registration requirement on account of the ''Financial Collateral Arrangement Regulations'', so you may still find Irish [[espievie]]s counsel wishing to go through the pantomime of registering charges with the Irish Registrar of Companies, notwithstanding the Emerald Isle’s continued membership of the [[European Union]], and implementation of its buzz-killing [[Financial Collateral Directive]], thanks to some law changes in 2015.<ref>“... Charges over all categories of assets are now registerable save for certain specific exclusions (including, for example, a charge created over an interest in cash or in shares in an Irish company). Thus, particulars of every charge created by a company over any property need to be delivered to the CRO, save for charges over non-registerable assets.” — [https://www.lawsociety.ie/Solicitors/Practising/Practice-Notes/Priority-and-registration-of-charges/#.XdusMtWwmiM Irish Law Society bulletin].</ref><br> | ||
Revision as of 10:55, 25 November 2019
Registering charges in Ireland
The Irish Financial Collateral Arrangement Regulations provide that certain types of charges do not need to be registered including those created over
- (a) cash[1];
- (b) deposits and money credited to bank account;
- (c) shares, bonds or debt instruments;
- (d) money market funds or collective investment scheme units; or
- (e) claims and rights (such as dividends or interest) over any of the above.
However, warns Matheson,[2] the registrar tends to take a conservative approach to excluding charges from the registration requirement on account of the Financial Collateral Arrangement Regulations, so you may still find Irish espievies counsel wishing to go through the pantomime of registering charges with the Irish Registrar of Companies, notwithstanding the Emerald Isle’s continued membership of the European Union, and implementation of its buzz-killing Financial Collateral Directive, thanks to some law changes in 2015.[3]
- ↑ I know, I know. You can’t take security over cash. But if you try, then even if you could, you couldn’t, unless you registered your attempt. But since you can’t ... I’ll get my coat.
- ↑ “The Companies Act 2014: Registration and Priority of Charges”
- ↑ “... Charges over all categories of assets are now registerable save for certain specific exclusions (including, for example, a charge created over an interest in cash or in shares in an Irish company). Thus, particulars of every charge created by a company over any property need to be delivered to the CRO, save for charges over non-registerable assets.” — Irish Law Society bulletin.