3 month time limit for backdating
It is advisable to become a director only once shares have been issued.
Any director involved in the company's trade prior to issue is likely to be connected and relief will be denied. Three year holding period The individual must retain the shares for a minimum of three years (possibly up to five if the trade commenced after the share issue date).
This involves initiating a claim on the person's behalf in Ireland, where relevant.
Instances arise where liaison action is not initiated by the relevant State.
Note: See also references to claims and late claims within separate guidelines dealing with the individual schemes.Such decisions are not subject to the Social Welfare Appeals provisions because it is a Ministerial discretion.A dissatisfied claimant may however request the decision to be reviewed, and the review should be carried out by an officer of higher rank than the person who made the decision. Previous claim or enquiry prior to legislative change If a legislative change gives entitlement on a previously refused claim, or where a previous enquiry elicited the information that there was then no entitlement, the earlier claim or enquiry may be accepted in lieu of a repeat claim from the date of implementation of the legislative change.Under EU Regulations and bilateral agreement legislation governing social welfare payments, a claim made in any State covered by the legislation (a relevant State) may be regarded as a claim for a similar type of payment in Ireland.When a claim for social welfare is made by a person in a relevant State, there is a legal onus on that State to take liaison action.