Oireachtas Joint and Select Committees
Tuesday, 5 November 2013
Select Committee on Jobs, Enterprise and Innovation
Companies Bill 2012: Committee Stage
11:55 am
Seán Sherlock (Cork East, Labour) | Oireachtas source
I am not sure I understand the question. This is effectively avoiding a duplication or proliferation of reporting mechanisms. The Deputy seems to seek greater clarity on those companies that are Irish-registered but non-resident companies. Section 301 reads: "Subject to its not having elected to prepare IFRS group financial statements and to subsection (4), a holding company is exempt from the requirement to prepare group financial statements if the holding company (the “lower holding company”) is itself a subsidiary undertaking and its holding undertaking is not established under the laws of an EEA state and one or other of the following cases applies." It continues to list exemptions and so on. I am trying to get to the nub of the question.
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