Seán Sherlock (Cork East, Labour) | Oireachtas source

I move amendment No. 111:

In page 774, to delete lines 7 to 37 and substitute the following:“(8) Subsections (9) to (12) have effect notwithstanding—

(a) the repeal by the Act of 2001 of section 24, as originally enacted, of the Act of 1963 (the “original section 24”); or
(b) the repeal by this Act of section 24, inserted by section 88(1) of the Act of 2001, of the Act of 1963 (the “substituted section 24”) or of the Act of 2001.

(9) A licence that—

(a) had been granted by the Minister pursuant to subsection (1) or (2) of the original section 24 to a private company limited by shares (being a company that has reregistered as a DAC pursuant to Chapter 6 of Part 2); and
(b) is in force immediately before the commencement of this section,

shall continue to have effect but with the modification that it shall operate to exempt the company from the use of the words “designated activity company” or “cuideachta ghníomhaíochta ainmnithe” as part of its name and the publishing of its name.
(10) Subsections (4) to (7) of the original section 24 shall continue in force in relation to the foregoing licence as if that section 24 had never been repealed, except that references in those subsections to the Minister, wherever occurring, shall be read as references to the Registrar.
(11) An exemption that immediately before the repeal of the Act of 2001 operated, by virtue of the substituted section 24, in favour of a private company limited by shares (being a company that has re-registered as a DAC pursuant to Chapter 6 of Part 2) shall continue to have effect but—

(a) with the modification that it shall operate to exempt the company from the use of the words “designated activity company” or “cuideachta ghníomhaíochta ainmnithe” as part of its name and the publishing of its name; and
(b) subject to subsection (12).

(12) Subsections (4) to (7) shall, with the necessary modifications, apply to a foregoing exemption as they apply to an exemption under subsection (1).
(13) In relation to a DAC that avails itself of the exemption under subsection (1), or continues to avail itself of a licence or exemption referred to in subsection (9) or (11), section 152 shall have effect as if, in addition to the particulars specified in subsection (2)(a) to (c) of that section to be included on all business letters and order forms of the DAC, there were specified in that subsection the fact of the DAC being a limited company.
(14) In this section “Act of 2001” means the Company Law Enforcement Act 2001.”.