Ireland transposes EU directive on cross-border operations
Ireland has transposed an EU directive providing a unified framework for cross-border conversions and divisions.
The European Union (Cross-Border Conversions, Mergers and Divisions) Regulations 2023, signed into law this week, transposes the Mobility Directive into Irish law.
The Directive recognises freedom of establishment as “one of the fundamental principles of Union law”.
It states that a “harmonised legal framework would further contribute to the removal of restrictions on the freedom of establishment while at the same time providing adequate protection for stakeholders such as employees, creditors and members”.
Corporate lawyer Emma Doherty, a partner at Matheson and member of the Company Law Review Group, said: “Transposition is good news for many multinationals assessing their future cross-border structuring options in the EU.
“We look forward to analysing the legislation in detail and working with clients to unlock the potential of the new regime.”