Section 343 of the Companies Act 2014 has introduced a novel and cost effective method of applying to the Court to extend the time period for a Company to file annual returns.
Applications for an extension of time to file an annual return can be made through the District Court as per section 343 (5) of the Act.
Previously, applications of this type were made to the High Court, which was costly, and particularly onerous on small to medium size companies.
The costs of making an application to the District Court are considerably less that the High Court.
Companies who need more time to file their annual return can make an application to District Court in the district court area where the registered office is situated.
As a result, the consequences of late filing, eg. Filing penalties and/or audit exemption will not apply to that annual return.
If you have any queries in relation to the foregoing, or any matter in relation to the Companies Act 2014 please contact Derek Walsh, Solicitor on 061-414355 or [email protected]