Oireachtas Joint and Select Committees

Wednesday, 2 December 2020

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Investment Limited Partnerships (Amendment) Bill 2020 [Seanad]: Committee Stage

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael) | Oireachtas source

On the same issue, the Minister of State has given a good explanation as to the controlling entities and the degree to which they will be visible to the general public, to possible investors and so on. Could two or more entities separate their visible contacts while still maintaining a beneficial interest in the operation and control of the overall policy thereof? In other words, could two or three venture capital companies be involved under separate headings so that, to the casual observer, each could be seen as an individual although they were all brought together by the same controlling company? This would give them undue influence. Rather than being separate entities, they would represent a single entity disguised as a multitude.

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