IE - Irish corporate governance (gender balance) bill 2021 launched

Proposals in the Bill include a mandatory 33 per cent of a company’s board must be female after the first year of enactment, rising to 40 per cent after three years. The Bill, due to be debated in the Dáil, proposes to apply the requirements to corporate bodies including limited and unlimited companies, charities, funds (including UCITS), and all state sponsored bodies and their subsidiaries. The Bill proposes a statutory declaration to be made by the chairperson of the governing body, e.g., board, in the Annual Return or annual financial statements that the gender balance requirements have been complied with. If they are unable to comply then they will be required to disclose the reasons why.