Oireachtas Joint and Select Committees
Tuesday, 15 June 2021
Joint Oireachtas Committee on Jobs, Enterprise and Innovation
General Scheme of the Companies (Small Company Administrative Rescue Process) Bill 2021: Department of Enterprise, Trade and Employment
Louise O'Reilly (Dublin Fingal, Sinn Fein) | Oireachtas source
Could Ms Keane explain to me about head 42, subsections (4) and (5), which concern consideration by members and creditors of proposals? What is the difference in how proposals are accepted under this process and the normal process? Will this perhaps lead to a deluge of objections or does she reckon it will go smoothly enough?
Under the same head, in subsection (7) there is an indication that the State will not object to any plans where a majority vote in favour. Obviously, if the majority back a proposal the State will back off, but that might still lead to some people being disenfranchised.
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