Companies Act 2014
CHAPTER 3 Service contracts and remuneration | ||
Copies of directors' service contracts | ||
154. (1) Subject to the provisions of this section, a company shall keep— | ||
(a) in the case of each director whose contract of service with the company is in writing, a copy of that contract; | ||
(b) in the case of each director whose contract of service with the company is not in writing, a written memorandum setting out the terms of that contract; | ||
(c) in the case of each director who is employed under a contract of service with a subsidiary of the company, a copy of that contract or, if it is not in writing, a written memorandum setting out the terms of that contract; | ||
(d) a copy or written memorandum, as the case may be, of any variation of any contract of service referred to in paragraph (a), (b) or (c), | ||
and all copies and memoranda kept by a company in pursuance of this subsection shall be kept at the same place. | ||
(2) Sections 215 to 217 (rights of inspection, etc.) apply to those copies and memoranda. | ||
(3) Where a contract of service is only partially in writing, paragraphs (a), (b), (c) and (d), as appropriate, of subsection (1), and subsection (4) shall also apply to such a contract. | ||
(4) Subsection (1) shall not apply in relation to a director's contract of service with the company or with a subsidiary of the company if that contract required him or her to work wholly or mainly outside the State, but the company shall keep a memorandum— | ||
(a) in the case of a contract of service with the company, setting out the name of the director and the provisions of the contract relating to its duration; | ||
(b) in the case of a contract of service with a subsidiary of the company, setting out the name of the director, the name and place of incorporation of the subsidiary and the provisions of the contract relating to its duration, | ||
at the same place as copies and the memoranda are kept by the company in pursuance of subsection (1). | ||
(5) If default is made in complying with subsection (1) or (4), the company concerned and any officer of it who is in default shall be guilty of a category 3 offence. | ||
(6) This section shall not require to be kept— | ||
(a) a copy of, or memorandum setting out the terms of, a contract; or | ||
(b) a copy of, or memorandum setting out the terms of a variation of, a contract, | ||
at a time at which the unexpired portion of the term for which the contract is to be in force is less than 3 years or at a time at which the contract can, within the next ensuing 3 years, be terminated by the company without payment of compensation. |