Simon Harris (Wicklow, Fine Gael)
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I move amendment No. 60:

In page 75, between lines 20 and 21, to insert the following:

Application of Chapter
136.This Chapter applies to an ICAV that has been struck off the register of ICAVs under Chapter 1.”.

This relates to Chapter 2 of this new section and as I have noted deals with restoration in regard to "strike off". The provisions here match those set out for investment in other companies in the Companies Bill 2012. Restoration of an ICAC to the register is possible on application to the Central Bank or the High Court within up to two years of the date of dissolution.
Amendment No. 60 provides that this Chapter applies to an ICAV that has been struck off under Chapter 1. Amendment No. 61 adds a new section, section 137 detailing how an application may be made to the Central Bank to have the ICAV restored to the register. This section is similar to section 728 of the Companies Bill 2012 in respect of striking off companies, which is derived from section 311A of the Companies Act 1963.
Amendment No. 62, section 138, details how an application may be made to the High Court to have a company restored to the register. This section is similar to the new provision to be introduced by section 739 of the Companies Bill 2012, in respect of the striking off of a company. Amendment No. 63, section 139, details the notice requirements for making an application to the court under section 138. Amendment No. 64, section 140, details specific terms to be inserted in listed instances in a restoration order made by the High Court pursuant to section 138.
Amendment No. 66, section 142, outlines further orders that the High Court may make on foot of applications made under section 138 or section 141. Section 142 lists the following supplementary orders that may be made by the High Court on foot of applications made under sections 138 or 141. That is, to give directions on placing the ICAV and all other persons in a position as if the ICAV had not been struck off, to direct the ICAV to change its name, where there may now exist another ICAV of a similar name, to order that the officers of the ICAV be held liable of a debt or liability incurred by or on behalf of the ICAV while the ICAV was struck off and such further orders as it may deem appropriate.