Introduction
When you are incorporating your new limited company, you might consider purchasing a Company Seal at the same time. You can purchase this as part of your Company Formation Package with Accountant Online.
Requirements
Every company under Irish legislation must have a company seal. The seal must have it’s company name engraved on it in legible characters. You may be familiar with the old legal term, signed, sealed and delivered. This means that a contract has to be signed by the directors or parties to the contract, sealed using the company seal and delivered to the parties receiving the contract.
When is a Company Seal used?
A resolution by the board of directors for the adoption of the company seal is usually included in the first minutes of the board and an impression of the company seal is impressed on the minutes of the meeting. The company seal can only be used when authorised by the board of directors, and a sealing register should be maintained for each use. A company is required to use its seal when executing certain documents, such as transfers of shares and certain documents provided for in the articles, company law, contract law and property law.
Does this seems like a lot of administration work? Let us help you stay compliant and keep your documents in order by using our Company Secretarial services. We have a dedicated and qualified Chartered Secretary that can act as your new business’s Company Secretary so that all of this admin work is taken care of and you can focus on your business.