Seanad debates

Tuesday, 17 June 2014

Companies Bill 2012: Committee Stage

 

5:15 pm

Photo of Feargal QuinnFeargal Quinn (Independent) | Oireachtas source

I thank the Minister of State but it seems a shame to me that it took around 11 years to construct this Bill yet the intention is to leave things that have not been dealt with until later. I will not push the issue but I ask that a stronger term be used.
I will now address amendment No. 127 which applies to section 879 of the principal Act and states "A person commits an offence if they make any misrepresentation whether oral or otherwise as to their status as an accountant unless they stand approved as an accountant with the Irish Auditing and Accounting Supervisory Authority, IIASA". This is very similar to the original amendment.
Amendment No. 128 relates to section 880 of the principal Act and states:

"A person guilty of an offence under section 879 is liable to a fine.-
(a) on summary conviction to a Class A fine, or
(b) on conviction on indictment to a fine not exceeding €50,000 or imprisonment for a term not exceeding 3 months or to both.”.
It sounds as though the Minister of State will not accept these amendments at this Stage but I feel it is important to give these matters serious consideration. I believe the Companies Bill should not become law while the Government says it intends to address its flaws only after enactment. I hope the Minister of State will do something about this.
When discussing amendment No. 1, I explained how harmful it can be to individuals and businesses when a person misrepresents himself or herself as an accountant so these amendments aim to provide a concrete disincentive to persons who present themselves to the public, without accreditation, as offering so-called accountancy services. After all the years that went into the production of this formidable and worthy Bill that deserves our support it would be a shame to leave something out on the basis that the Minister will examine it later. I urge the Minister of State to consider these amendments, if not today then before Report Stage.

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