Company Law Enforcement Act, 2001
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Amendment of section 26 of Act of 1990. |
76.—Section 26 of the Act of 1990 is amended— | |
(a) by the substitution of the following for subsection (1): | ||
“(1) For the purposes of this Part, a person is connected with a director of a company if, but only if, the person (not being himself a director of the company) is— | ||
(a) that director's spouse, parent, brother, sister or child; | ||
(b) a person acting in his capacity as the trustee of any trust, the principal beneficiaries of which are the director, his spouse or any of his children or any body corporate which he controls; or | ||
(c) in partnership, within the meaning of section 1(1) of the Partnership Act, 1890 , with that director.”, | ||
(b) by the substitution of the following for subsection (3): | ||
“(3) For the purposes of this section, a director of a company shall be deemed to control a body corporate if, but only if, he is, alone or together with any other director or directors of the company, or any person connected with the director or such other director or directors, interested in one-half or more of the equity share capital of that body or entitled to exercise or control the exercise of one-half or more of the voting power at any general meeting of that body.”, | ||
and | ||
(c) by the insertion of the following after subsection (5): | ||
“(6) It shall be presumed for the purposes of this Part, until the contrary is shown, that the sole member of a single-member private limited company within the meaning of the European Communities (Single-Member Private Limited Companies) Regulations, 1994 ( S.I. No. 275 of 1994 ) is a person connected with a director of that company.”. |