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.