Jonathan O'Brien (Cork North Central, Sinn Fein) | Oireachtas source

It is my understanding that subsections (2), (3) (4) and (5) are new subsections. It was always the case that if a director was made insolvent, he or she could not become a director again for a period of five years. It is now proposed to change this. Perhaps the Minister of State would elaborate on the reason for this.