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)

The Minister of State stated that it will be appropriate to deal with this in the next companies Bill. This is a companies Bill but it is not appropriate to deal with it in this legislation. In the meantime these businesses are under pressure and jobs are being threatened and lost. However, we must wait for the next companies Bill, whenever that will be, and I do not see the logic in this quite frankly.

The Minister of State quoted from the full letter from the Central Bank in 2009. If I understood what he said, the letter indicated it would not be appropriate until the relevant regulations were in place. This was three years ago. We are now being told the relevant regulations will be in place by the time of the next companies Bill, whenever that will be. When will the relevant regulations be in place? People were sympathetic in 2009 and all that had to be done was to put in place these regulations. Three years later we are still sympathetic but there is no sign of the regulations.

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