Michael Ahern (Cork East, Fianna Fail)

I move amendment No. 13:

In page 8, between lines 39 and 40, to insert the following:

"13.—Section 10 of the Companies (Auditing and Accounting) Act 2003 is amended—

(a) in subsection (4)—

(i) in paragraph (a), by substituting "section," for "section, or",

(ii) in paragraph (b), by substituting "recognition of that body, or" for "recognition of that body,",

(iii) by inserting the following paragraph after paragraph (b):

"(c) a person on whom a relevant obligation or obligations is or are imposed to comply with that obligation or those obligations,",

and

(iv) by substituting "the body or other person concerned may fail or has failed to comply with the rule, guideline, term or condition or obligation or obligations, as the case may be." for "the body concerned may fail or has failed to comply with the rule or guideline or with the term or condition, as the case may be.",

and

(b) by adding the following subsection:

"(5) In subsection (4), the reference to a relevant obligation or obligations that is or are imposed on a person is a reference to an obligation or obligations that is or are imposed on the person by—

(a) provisions of transparency (regulated markets) law (within the meaning of Part 3 of the Investment Funds, Companies and Miscellaneous Provisions Act 2006) that implement Article 24(4)(h) of the Transparency (Regulated Markets) Directive (within the meaning of that Part), or

(b) rules adopted by the Supervisory Authority under subsection (3) concerning the matters that relate to its functions under section 9(2)(ma).".".

See this speech in context