Simon Harris (Wicklow, Fine Gael)
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The provisions are effectively lifted from the Companies Bill. References to "company" are changed to "ICAV", while provisions relating to transitional arrangements in sections 419 and 420 of the 2012 Bill are omitted in this legislation because the ICAV does not currently exist and does not, therefore, require such arrangements. These amendments represent an effort to mirror the provisions of the Companies Bill, with some tweaks. There are no policy changes being enacted in this legislation in comparison with what is in the 2012 Bill.

I hereby give notice of the likelihood that I will have to bring forward a number of amendments on Report Stage in view of the amendment made by the Seanad to the Companies Bill on Committee Stage. The objective, as I said, is to ensure these provisions reflect the most up-to-date Companies Bill. There is a fleshing out here of some of the areas in respect of which Deputy Doherty expressed concerns, such as accounting standards and the like. This is not an effort to get away from the relevant parts of the Companies Bill. On the contrary, it makes sense to ensure they are mirrored in this legislation.