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you are here: > United Ireland
> Article 32
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3. National Principles
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| Article 32- Corporations | ||
| 32.1 | Corporations | |
| A corporate is defined as a registered body of one or more people officially recognized as having some formal legal existence, through a specific instrument of power and charter of financial equity or benefit. |
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| 32.2 | Types of corporations | |
| By this Constitution, the following ten types of corporations shall be recognized. |
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| Constitutional Authority Statutory Authority Non-profit sole equity (NSE) Profit sole equity (SE) Non-benefit trust
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| 32.3 | Corporations Law | |
| The establishment and conduct of all corporations, whether fully foreign owned, partly foreign owned, or wholly owned by Irish citizens shall be subject to a single Act of Parliament known as Corporations Law. | ||
| By this constitution, there shall be only one Corporations Law permitted for Ireland and only the National Parliament may make amendments and enhancements to this law. All other branches of government are then bound by this document in respect to the management, conduct and interaction with corporations. | ||
| While the Corporations Law shall be responsible for defining the details of permitted and prohibited conduct of corporations, their officers, customers, suppliers and the public, the corporations law shall as mandatory requirements address the following items: | ||
| 1. Registraion of all corporations | ||
| That all corporations operating within the financial boundaries of the nation, shall be required to be registered with the appropriate statutory authorites according to the guidelines prescribed in Corporations Law. No corporation shall be permitted to function without being properly registered. That this register shall be public record. | ||
| 2. Mandatory disclosure and reporting | ||
| That no directorships, shareholders, beneficiary or interests in relation to any type of corporation may be hidden or exempt from disclosure from public record. | ||
| 3. Ineligibility from holding office if convicted of serious criminal offence or undischarged bankrupt | ||
| That no person shall be permitted to hold a directorship or beneficiary interest in any corporation if they have been convicted of a serious criminal offence involving more than ten years imprisonment, or have been convicted of fraud involving a penalty of five or more years or remain an undischarged bankrupt. That this ineligibilty shall expire ten years after the last year of sentence served, or discharge of bankruptcy. | ||
| 4. Full disclosure of pecuniary interests | ||
| That officials holding senior office at any level of government shall be required by law to disclose all pecuniary and financial interests, that this register must be kept up to date and shall be public record. Non disclosure of a financial interest greater than 10,000 units of value shall be considered a criminal offence. | ||
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