Mary Harney (Dublin Mid West, Progressive Democrats)

I move amendment No. 41:

In page 18, to delete lines 6 to 36 and substitute the following:

"(7) Where, in respect of a period, the Authority has determined under subsection (5)(b) that the cumulative net financial impact of the relevant financial provisions on a registered undertaking or former registered undertaking was positive, and determined under subsection (6)(a) that the undertaking has made a profit which is in excess of the reasonable profit determined under subsection (4), it shall prepare a report (in this Part referred to as the 'draft report') setting out---

(a) the reasonable profit determined under subsection (4),

(b) the amount determined under subsection (5)(b) to be the positive cumulative net financial impact on the undertaking,

(c) the monetary equivalent amount determined under subsection (6)(b) to be the profit of the undertaking which is in excess of the corresponding monetary equivalent amount of such reasonable profit,

(d) the cumulative amount of overcompensation, being the lower of the amounts referred to in paragraphs (b) and (c),

(e) the amount of overcompensation to be paid to the Exchequer by the undertaking, being the cumulative amount of overcompensation referred to in paragraph (d) reduced by the total amount of overcompensation paid or due to be paid to the Exchequer pursuant to the operation of subsection (10) in respect of all the periods prior to the first-mentioned period, and

(f) the bases on which it made the determinations, and calculated the amounts, referred to in paragraphs (a) to (e).".

See this speech in context