Under Irish law, Non-Executive Directors hold a crucial position in corporate governance. According to the Company Act 2014, the role of non-executive directors is defined by their duties and responsibilities concerning the company. Here are the key aspects to consider:

1. Role and Responsibilities

In Irish corporate law, Executive Directors are critical figures who play a dual role in the company’s day-to-day management and strategic direction. Here’s a detailed overview based on Irish law:

Role and Responsibilities

Key Characteristics:

1. Limited Liability by Guarantee: Companies Limited by Guarantee (CLG) are companies where members do not own shares but agree to contribute a specified amount (guarantee) in the event of the company’s liquidation. The guarantee amount is outlined in the company’s governing documents and is typically small. This structure is most often used by organizations that do not seek to make a profit.

Key Characteristics:

1. Limited Liability: In a Private Company Limited by Shares (LTD), shareholders are only liable for the amount they have invested in the company’s shares. This means that personal assets of the shareholders are protected, and they cannot lose more than their investment, even if the company faces financial difficulties.