A High Court judge and a spokesman for Catholic bishops are among the directors of the new company which is taking control of the Holy Ghost Fathers' schools.
The five schools - Blackrock College, St Michael's College, Templeogue College and St Mary's College, all in Dublin, and Rockwell College near Cashel in Co Tipperary - are among the most prestigious in the State. The order is withdrawing from the supervision and control of the colleges because it no longer has sufficient members. Many younger members of the order are choosing missionary work instead of working in the schools.
The High Court judge is Miss Justice Mella Carroll. Other members of the company's board will include the spokesman for the Catholic bishops, Father Martin Clarke, and several figures from the legal and business worlds.
According to documents in the Companies' Office, the new company, Des Places Education Association Ltd, will act as "an overall controlling, co-ordinating, supportive, determining and supervisory body in respect of the colleges".
The setting up of the company is a radical change in the history of the colleges, and replaces the existing structure which solely involved the Holy Ghost Fathers as trustees. However they will remain as "members" of the new company, with powers to appoint the board of directors, the documentation makes clear.
The order pointed out it is not withdrawing from education but continuing its role, albeit in partnership with lay supporters of the colleges.
The documents say the company has been established to achieve "charitable objects" and the directors will not receive a salary.
Its main object will be to "ensure and foster the advancement of education and to further the aims and purposes of the Roman Catholic education," says the company's memorandum of association.
The company will be empowered to appoint local management at the schools and in "exceptional circumstances" will be permitted to manage the colleges directly.
It will also be allowed to "close, amalgamate or otherwise deal with the colleges as the company shall so determine, subject to any necessary approvals or consents that may be required".
Also allowed under the memorandum and articles of association are the placing of money on deposit, the selling or acquisition of property and the employment of administrative, clerical, financial or other staff.
The company is also permitted to enter "arrangements with any governments or authorities, supreme, municipal, local or otherwise that may seem conducive".
Among the directors listed with the Companies Registration Office are: Mr Gary Lyons, bank manager, from Foxrock, Co Dublin; Mr Shane Murphy, barrister, Donnybrook, Co Dublin; Mr Colm O'Neill, engineer, Templeogue, Co Dublin; Mr Paul Molumby, information technology manager, Dublin 14; Mr Daniel Coveney, chartered accountant and director of several AIB subsidiaries; Father Patrick Roe, North Circular Road, Dublin; Father Patrick Duggan, St Michael's College; Mr Andrew Burke, university lecturer, Howth, Co Dublin; Ms Eithne White, voluntary worker, Booterstown, Co Dublin; Mr Gerard Jeffers, teacher, Churchtown, Co Dublin; Ms Mary Murphy, writer/teacher, Dublin 16.