Course Summary

Duration1 hour

PresenterJohn Murphy

Course Overview

This online CPD course will look at the practical use of the Summary approval procedures in Sections 203 to 207 of CA 2014 in every-day business transactions/restructurings. It will identify the possibilities that arise as a result of performing some of these SAP’s.

This online course will cover the following:

  • A review of the summary approval procedure in general and the requirements with regards to company law:
    • What the SAP is and why it is in the legislation.
    • The meetings that are required;
    • What is to be included in the directors’ declaration.
    • What resolutions are required by the members;
    • The key filing deadlines and the importance of getting the declaration in on time;
    • The need to advise clients of the importance of the declaration and the implications of making a declaration that is untrue.
    • Identify which SAP procedures require an auditor’s report and which do not. It will include a quick reminder on the procedures an auditor will need to do.
  • A review of the SAP 203 procedure to allow financial assistance for the purchase of own shares and to provide loans between companies within the group. We will also identify how this can be used practically to allow business transactions to happen. We will put forward a basis for how the transactions may benefit the trade which is one requirement in the declaration.
  • A review of the SAP 204 procedure to allow a company to reduce its share capital. We will also identify how this can be used practically to allow business transactions to happen. It can be used where applicable for the redemption/buyback of shares or to create distributable reserves.
  • A review of the SAP 204 procedure to allow companies to vary company capital even where there are no distributable reserves. We will also identify how this can be used practically to allow business transactions to happen. It can be used where applicable for the transfer of undertakings.
  • A review of the SAP 205 procedure to allow the company to allow dividends received from pre-acquisition reserves to be considered distributable. We will identify how this can be used practically to allow future transactions/dividends to be carried out.
  • A review of the SAP 206 procedure to allow companies to enter into a merger. We will do a high-level review of the process and the items that a required for a merger.
  • A review of the SAP 207 procedure to allow a company to be placed into members voluntary liquidation

CDP Course Facilitators:

John Murphy: Head of Tax & Legal, OmniPro

As a head of Tax & Legal, John relishes problem-solving to help accountants develop innovative client solutions and sharing technical knowledge on tax, financial reporting and auditing.

A Chartered Tax Adviser, he advises clients in practice on a range of issues from income tax, tax planning, restructuring and exit planning to Revenue audits. In addition, he provides support on financial reporting, auditing and company law; conducts company valuations and advises on pre-sale restructuring.

John also plays a key role as a researcher and subject-matter expert in developing OmniPro information products such as the CompaniesAct2014.com and FRS102.com. As a speaker at OmniPro CPD events, he brings these industry-leading insights to accountants participating in our training programmes.


Des O’Neill – Co-Founder and Managing Director, OmniPro

Having worked for a number of years in practice, Des O’Neill co-founded OmniPro to develop tools, techniques, products and services, empowering accountants to achieve their best. Over 15 years, he has grown the company to a multi-million-euro turnover business and established OmniPro as Ireland’s largest independent provider of CPD for accountants.

Des speaks regularly, at national and international fora, on practice development, auditing, accounting, company law and regulation. He is passionate about bringing innovation to the profession and empowering accountants to achieve what they want in their careers and practice.