Seán Sherlock (Cork East, Labour) | Oireachtas source

I move amendment No. 146:

In page 345, lines 16 to 18, to delete all words from and including “(1) A” in line 16 down to and including “company.” in line 18.

The purpose of the amendment is to ensure this exemption which aims to provide small indigenous Irish companies with audit exemptions is not inadvertently given to a small Irish parent company with substantial non-Irish subsidiaries. The proposed amendment deletes subsection (1) which implies that an Irish company with substantial foreign holdings would benefit from the exemption. The policy intention behind the audit exemption is to give benefit to small indigenous companies.

See this speech in context