Dáil debates

Thursday, 28 June 2012

Companies (Amendment) Bill 2012 [Seanad]: Report Stage

 

11:00 am

Photo of Willie O'DeaWillie O'Dea (Limerick City, Fianna Fail)

I move amendment No. 2:

In page 4, between lines 10 and 11, to insert the following:

"4.—Section 32 of the Act of 1999 is amended—

(a) in subsection (3), by adding the word "either" at the end of the opening phrase after the words "are that", and

(b) by adding a new subsection (3)(b) as follows:

"(3) (b) in respect of the year concerned—

(i) the company is a company referred to in paragraph 4 or paragraph 19 of the Second Schedule hereto; and

(ii) the amount of turnover of the company does not exceed €1,000,000; and

(iii) the company does not receive and hold payments of money on behalf of third parties or only does so on the basis of being fully indemnified by those third parties for any loss incurred as a result.".".

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