Pat Rabbitte (Dublin South West, Labour)

I move amendment No. 1:

"Dáil Éireann declines to give the Bill a Second Reading on account of its failure to provide that the Act should not come into operation until the Minister has notified both Houses of the Oireachtas that he or she or the Director of Corporate Enforcement has applied to the High Court for an order under the Companies Acts for the appointment of one or more inspectors to investigate the affairs of Anglo Irish Bank, having regard in particular to the questions as to whether:

(a) its affairs have been conducted with intent to defraud its creditors or the creditors of any other person or otherwise for a fraudulent or unlawful purpose or in an unlawful manner or in a manner which is unfairly prejudicial to some part of its members, or that any actual or proposed act or omission of the company (including an act or omission on its behalf) was so prejudicial;

(b) persons connected with the management of its affairs have in connection therewith been guilty of fraud, misfeasance or other misconduct towards it or towards its members;

(c) that its members have not been given all the information relating to its affairs which they might reasonably expect; and

(d) such additional grounds as the Minister specifies in his or her application to the High Court.".

See this speech in context