Simon Harris (Wicklow, Fine Gael) | Oireachtas source

I move amendment No. 2:

In page 10, line 21, to delete “section 155 of the Companies Act 1963” and substitute “section 8 of the Companies Act 2014”.

Amendment No. 2 is technical and reflects the fact that the Companies Bill 2012 will be enacted imminently. The cross-reference to the definition of "holding company" will, in all likelihood, be out of date by the time this Bill is enacted. A "holding company" is defined in section 8(1) of the Companies Bill 2012 which states company A will be the holding company of company B where company B is the subsidiary of company A. This derives from section 155(4) of the Companies Act 1963. We expect the Companies Bill to be enacted this year; therefore, it seems prudent for us to update the Irish collective asset-management vehicle, ICAV, legislation to reflect this.
Amendment No. 5 includes a cross-reference to the definition of a holding company and is tabled for the same reason.