Corporate
A busy legislative slate lies ahead on the domestic front, largely driven by the need to transpose significant EU directives into Irish law. Member State discretions will undoubtedly come into focus as part of the implementation process, although room for manoeuvre is relatively limited given the mostly mandatory nature of the EU measures.
In a welcome move, however, the Department of Enterprise, Trade and Employment is engaging with stakeholders, through a series of public consultations, the outcome of which may help shape Irish company law into the future.
While ESG and ESG-adjacent themes remain the dominant focus, other interesting legislative developments are on the horizon. Co-operative societies, which have long been a vital cog in the Irish economic machine, are set to see a large-scale overhaul of their governing legislation. Although the development of the legislative framework has been slow to get off the ground, new cross-border mobility options for EU companies are expected to become live in the months ahead, with the governing Irish regulations being fine-tuned at the time of writing.
The recent decision of the Court of Justice of the European Union in WM and Sovim SA v Luxembourg Business Registers limiting public access to the beneficial ownership registers of companies has given authorities pause for thought in advancing the transparency agenda in the corporate sphere. Across Europe, legislators must now grapple with the complexities of the
privacy versus transparency debate. This may well lead to a recalibration of the public's right to access personal information concerning individuals in the company law realm. Expect intense policy debate in this area.