Oireachtas Joint and Select Committees

Wednesday, 6 November 2013

Select Committee on Jobs, Enterprise and Innovation

Companies Bill 2012: Committee Stage (Resumed)

10:55 am

Photo of Mick WallaceMick Wallace (Wexford, Independent)
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Nobody is saying there should not be unlimited companies. There is a choice, which is fine. We are talking about unlimited companies that are not really unlimited but have the protection of limited companies. There is a cloak, and nobody knows where the company is in a financial sense. These companies may not be unlimited as they engage limited shareholdings offshore. They become limited companies, enjoying the best of both worlds.