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Version status: Published
Version date: 22 December 2023 - onwards

17. Amendment of section 48 of Principal Act

This format of the bill is taken from the text of stage 1 published on 22 December 2023 by Dáil Éireann

Section 48 of the Principal Act is amended -

(a) by the substitution, in subsection (1), of "charitable organisation, that is not a company," for "charitable organisation",

(b) by the substitution, in subsection (3)(a), of "a charitable organisation, referred to in subsection (1), in a financial year does not exceed €250,000" for "a charitable organisation in a financial year does not exceed €100,000",

(c) by the insertion of the following subsections after subsection (3):

"(3A) A charitable organisation that is a company shall prepare financial statements in accordance with -

(a) the requirements of Part 6 of the Act of 2014, and

(b) regulations made under subsection (3B).

(3B) The Minister may, having regard to the requirements of Part 6 of the Act of 2014 and after consultation with the Minister for Enterprise, Trade and Employment, prescribe the form and content of financial statements, additional to the requirements contained in Part 6 of the Act of 2014, to be prepared by a charitable organisation referred to in subsection (3A).",

and

(d) in subsection (6) -