Simon Harris (Wicklow, Fine Gael) | Oireachtas source

I move amendment No. 17:

In page 76, line 4, to delete “section 172” and substitute “section 171”.

Amendment No. 17 corrects a minor cross-reference error. Amendment No. 31 provides a restated list of which agency, the Central Bank or the Office of the Director of Corporate Enforcement is to prosecute which of the offences created in the Bill. The section is being replaced as a number of the offences have been assigned solely as the jurisdiction of the Central Bank rather than the joint jurisdiction of the Central Bank and the Office of the Director of Corporate Enforcement. In addition, the Report Stage amendments give rise to a number of new offences which fall to be included in the revised section 171. Offences in relation to sections that cross-apply the Companies Act 2014, such as restrictions and disqualifications, receivers or winding up, do not need to be mentioned here explicitly as the offences are already covered in the Companies Act itself.

Amendment No. 32 inserts a new section into the Bill. It is based on section 866 of the Companies Act 2014. This section makes provision for the District Court area within which summary proceedings against an ICAV or an officer therefore may be brought, heard and determined.

Amendment No. 33 inserts a new section into the Bill. This section cross-applies further provisions of the Companies Act 2014. Amendment No. 35 inserts a new section 175 which cross-applies section 876(1) and (3), 877 and 878 of the Companies Act.

Amendment No. 38 is consequential on amendments to the revised section 171 above relating to the agency with responsibility for enforcement. The old section is, therefore, deleted. This was to bring clarity as to who must do what and where the responsibility lies.

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