A&L Goodbody has completed the first redomiciliation of an investment fund company to Ireland under Irish legislation which came into effect in September this year.  A Bermudan investment company has migrated to Ireland with effect from 8 December 2010 under the new procedure which involves applications to, and approvals by, the Companies Registration Office and the Central Bank of Ireland.

New legislation under the Companies (Miscellaneous Provisions) Act 2009, which came into effect in September 2010, permits funds which are companies to migrate to Ireland from 6 jurisdictions; namely Bermuda, British Virgin Islands, Cayman Islands, Isle of Man, Jersey and Guernsey. The attractiveness of the migration legislation means that the corporate legal entity continues in existence so that fund managers can preserve the fund's performance.