Billy Kelleher (Cork North Central, Fianna Fail)

I thank Dr. Courtney, in particular, who is chair of the Company Law Review Group, and the other members who sit on that body reviewing company legislation with the purpose of consolidating it into one Bill, which we hope to publish in September next. As outlined by Deputy Morgan, there will be 1,200 sections in that Bill. It will be difficult and exacting, first, on the Company Law Review Group, but also on the officials who must interpret that and put it into format, on the Parliamentary Counsel and on everybody else involved. It will be very exacting on the members of whatever committee it goes before in the context of winding its way through the Oireachtas. It is another Bill to which I look forward.

I will deal with a few basic issues here. In response to Deputy Varadkar, the Director of Corporate Enforcement was consulted. It enforces company law and the director did not have any major concerns with that aspect. The Revenue Commissioners were also consulted.

I repeat that these are very reputable companies. Deputies asked were they going to use different accounting standards for the purpose of gaining competitive advantage. That is not the case. The context of capital depreciation of equipment such as plant was raised by some Deputies, but that does not arise, nor will there be a potential loss of revenue to the State.

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