Seán Sherlock (Cork East, Labour) | Oireachtas source

I move amendment No. 38:

In page 152, between lines 1 and 2, to insert the following:

"(9)Notwithstanding anything in the preceding subsections of this section, but without prejudice to any contrary provision of⁠—

(a)an order of, or undertaking given to, the court;

(b)the resolution for, or any other resolution relevant to, the reduction of company capital; or

(c)the company’s constitution,

a reserve arising from the reduction of a company's company capital is to be treated, both for the purposes of this section and for purposes otherwise, as a realised profit.".

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