The amendments made by s. 14 of the Companies (Miscellaneous Provisions) (Covid-19) Act 2020 (No. 9) ceased to have effect on 31 December 2022, as the interim period for those amendments was not extended.
Schs. 1 and 2 to the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024 (No. 44) repeal and reverse those amendments. However, BetterRegulation already reflects that these amendments have ceased to have effect.
For the purposes of this Act, a company shall be deemed to be unable to pay its debts -
(a) if -
(i) a creditor, by assignment or otherwise, to whom the company is indebted in a sum exceeding €10,000 then due, has served on the company (by leaving it at the registered office of the company) a demand in writing requiring the company to pay the sum so due, and
(ii) the company has, for 21 days after the date of the service of that demand, neglected to pay the sum or to secure or compound for it to the reasonable satisfaction of the creditor,
or
…