Dara Calleary (Mayo, Fianna Fail) | Oireachtas source

I endorse everything the Minister has said. There will probably be some comment on the fact that we moved through the amendments so quickly but that is due to the fact that we were given good access to the officials and to the expertise of the company law review group during the pre-legislative stage in committee. I thank all the members of the company law review group who have served since its inception. I thank all the Minister's predecessors going back to the former Tánaiste, Mary Harney, who initiated this legislation and the officials in the Department who have always been very helpful and willing to answer queries on it.

We should not leave such a gap in reviewing company legislation in future. Business and the manner of doing business is changing quickly whether for the better is for another discussion. We cannot allow our company law to catch up with it. We need to be ahead of it. We raised during the course of the debate the protection of the term "accountant".

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The Minister gave a commitment to review the matter and to do some consultation around it. Perhaps the Leas-Cheann Comhairle will allow him to update the House on the current position in that regard. This is a very important issue. The term "accountant" is open to abuse. The accountancy profession is essential to the implementation of this Bill. As long as there is a lacuna around the protection of this term, we will not get the full value from this Bill. Gabhaim buíochas le gach duine sa Roinn a bhí páirteach sa Bhille seo. We did this before. I hope we do not see this Bill or any more amendments to it for some time.

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