A designated activity company (Irish: Cuideachta Ghníomhaíochta Ainmnithe) or DAC is a form of company in Ireland created by the Companies Act 2014. Like a limited company, designated activity companies have limited liability.[1] Additionally, they may only carry out activities listed in their constitution documents, and so the concept of ultra vires continues to apply to them. Notable DACs include Ryanair[2] and Ulster Bank.