Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

The practice in these types of fund which are public limited companies is that nobody turns up for annual general meetings. These are large funds and cannot be compared to a local credit union. This should not, however, weaken the position of the auditor or his or her ability to flag issues, as the Minister of State pointed out. While I welcome the provision allowing shareholders to call an extraordinary AGM, the provision that AGMs is not necessary sticks in one's craw because annual general meetings are forums in which information is imparted and so forth. While I am aware that we are chasing Luxembourg on this issue and I have flagged the need to introduce legislation to change the position that obtains in another jurisdiction, how is the issue of annual general meetings addressed in other jurisdictions? I welcome the Minister of State's statement that he may table an amendment on the issue on Report Stage because this is a key aspect of the Bill.