Euronext Dublin is consulting on the proposed introduction of an Irish Corporate Governance Code.
At present, the UK Corporate Goverance Code (UK Code) applies to companies with a primary equity listing on Euronext Dublin, supplemented by the Irish Corporate Governance Annex.
The draft Irish Code is based on the UK Code and retains the “comply or explain” approach but proposes to cater for the specifics of the Irish market and legal environment including the broader EU regulatory regime.
It is proposed that companies with a primary listing on Euronext Dublin will be subject to the Irish Code, which is to be applied to issuers under the Euronext Dublin Listing Rules. Where a company is dual-listed in both Ireland and the UK, it will have the option to either apply the Irish Code or the UK Code.
It is expected that the Irish Code will apply to accounting years commencing on or after 1 January 2025.
The consultation closes on 14 June 2024.
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.