Alan Shatter (Dublin South, Fine Gael)

I move amendment No. 6:

In page 28, line 16, to delete "19(1)" and substitute "19(1)(b)".

Amendments Nos. 6 and 7 propose to clarify the references in the Schedule to offences under sections 19 and 34 of the Investment Intermediaries Act 1995. Amendment No. 6 is a technical drafting amendment to refer more clearly to the offence under section 19(1)(b) of the Investment Intermediaries Act 1995 which is the only offence contained in section 19. The offence relates to contravention of the requirement on investment business firms to keep certain books and records specified by the Central Bank.

Amendment No. 7 proposes to broaden the scope of the provision to cover all offences under section 34 of the 1995 Act. The effect of the amendment is that, in addition to the offence under subsection (1) of section 34 which relates to the making of false or misleading statements to the auditors of an investment business firm, the offence under subsection (3) of section 34 will also be a relevant offence for the purposes of the Bill. That offence relates to the failure of an officer or employee of an investment business firm to provide required information or explanations to the firm's auditors.

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