Kathryn Reilly (Sinn Fein) | Oireachtas source

I move amendment No. 30:

In page 163, line 31, to delete "one, at least," and substitute "a majority".

Amendments Nos. 30 to 33, inclusive, deal with the bond of €25,000 applying in circumstances where no director is resident in Ireland. In these circumstances it would fall back on the State to make the payment from the insolvency fund. The purpose of the amendments is to save the Exchequer money. One of the Government's policy objectives is to ensure employees are protected in every case. Similarly, the Government seeks to limit the State's exposure to potential shortfalls in the context of redundancy or insolvency. Unpaid remuneration in these times of contraction is all too common. We have seen a plethora of employees having to fight very hard to ensure they get what they are entitled to. The amendments seek to ensure workers who have expended their energies, efforts and brain power to make profits for companies or businesses would be protected. I urge the Minister of State to consider them.