Oireachtas Joint and Select Committees
Wednesday, 31 May 2023
Joint Oireachtas Committee on Jobs, Enterprise and Innovation
General Scheme of the Plan of Action on Collective Redundancies following Insolvency Bill 2023: Discussion
Louise O'Reilly (Dublin Fingal, Sinn Fein)
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I want to briefly touch on limited liability. I do not want to go too far into it. We all know that when it is not abused it is grand, but sometimes there can be an attempt to evade responsibility and hide behind the cloak of limited liability. Are the witnesses happy that this has struck that balance? I see in their submission an explanation of what limited liability does, namely, "permitting individuals to engage in entrepreneurial activity while limiting personal exposure". There is an understanding as to why that might be important but also why it might be kind of handy in certain situations. Are the witnesses satisfied that the balance has been struck here between limited liability, and what comes out of that, and justice?