This article focuses on why new and existing businesses need an Irish company seal and its proper use.
What information is Required on an Irish Company Seal?
The Companies Act 2014 requires every registered company to have a common seal bearing the business’s registered. An Irish company seal consists of two opposing metal plates which each contain a rubber face engraved with legible letters.
By pressing the two plates of the seal together on paper results in an embossment of the required company information. The seals manufactured at McGrath Seals contain all capital letters which ensures a clear embossment as required by Irish company law.
As per the Companies Act 2014, a corporate seal must contain the exact name of the business but in some cases, the use of an abbreviation may be allowed. Some companies may also choose to include a logo, however, this is not required.
When to Use a Company Seal?
In Ireland and many other countries, the law requires registered companies to have an official seal for the authentication of legal documents including various contracts and deeds.
Can a Company Seal be used Outside of Ireland
Yes, it can be used abroad and works just like it works in Ireland. In some cases, a company may have a different seal for international use. Rules require this ‘foreign’ seal to appear just like the local seal but with the addition of the place where it is used.
Safekeeping of a Company Seal
There are no rules regarding where to physically keep your Irish company seal, however, steps must be taken to prevent it from reaching unsafe hands.
Company Director(s) or those with permission from directors can use a company seal. Unless otherwise specified, all documents with a seal need to be signed by the board or those appointed to sign on the behalf of the board.
In addition to this, a company can grant a power of attorney which grants authority to one or more individuals to execute documents such as deeds. However, there is still a requirement to have the Attorney’s signature witnessed when he/she is executing deeds on behalf of the company.
In what Circumstances Would a New Seal be Required?
You may need a new seal for use abroad. Moreover, you may need one if:
- Change of Company Name
You will have to get a new seal if you make changes to the name of your company even if it is something as minor as a change of spelling.
- Change of Company Type
You will have to get a new seal if you make changes to the type of company, such as from a public limited to a private limited.