The CRO gained new powers to pursue involuntary strike-off under the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024.

They apply in cases where companies have no directors or have failed to file their beneficial ownership information with the central register.

The CRO’s most recent stakeholder meeting, which was attended by representatives of many of Ireland’s largest corporate law firms, heard that it has now commenced involuntary strike-offs for companies without directors.

Involuntary strike-offs for companies which have failed to file their beneficial ownership information are set to begin “shortly”.

Around 10 to 12 per cent of companies on the register have yet to file their beneficial ownership information, meaning that thousands of companies face involuntary strike-offs.

Initial enforcement letters from the Central Register of Beneficial Ownership of Companies and Industrial and Provident Societies (RBO) will now state that failure to file may result in the company being struck off.

The government has described the CRO’s new powers as necessary to “ensure the integrity, accuracy and consistency of information included on the register of companies”.