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ARTICLE · 07 APRIL 2020

Shareholders' Rights Regulations 2020

Dillon Eustace
Dillon Eustace
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Dillon Eustace

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The European Union (Shareholders' Rights) Regulations 2020 (the "Regulations") came into force in Ireland on 30 March 2020.

IrelandCorporate/Commercial Law

Introduction

The European Union (Shareholders' Rights) Regulations 2020 (the "Regulations") came into force in Ireland on 30 March 2020. They give effect to the Shareholders' Rights Directive (EU) 2017/828 of the European Parliament and of the Council (the "2017 Directive"), amending the previous EU Shareholders' Rights Directive 2007/36/EC (the "2007 Directive"). The Regulations also insert several Chapters into Part 17 of the Companies Act 2014 (the "2014 Act"). The objective of the Regulations is to increase corporate transparency and shareholder engagement in the long term.

The Regulations shall apply to companies who have their registered office in a Member State and whose shares are traded on a regulated market in or operating in a Member State ("traded PLCs"). However, undertakings for collective investment in transferable securities (UCITS) and Alternative Investment Funds (AIFs) are explicitly exempt in the Regulations.

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