Simon Harris (Wicklow, Fine Gael) | Oireachtas source

I move amendment No. 20:

In page 85, to delete lines 11 to 14 and substitute the following:

“(2) The company shall then make an application to the Registrar in the form prescribed by the Minister for Jobs, Enterprise and Innovation to be de-registered as a company.

(3) On receipt of an application under subsection (2) the Registrar shall issue a certificate of de-registration of the company, shall enter in the register of companies that the company is de-registered and shall forthwith publish notice in the Companies Registration Office Gazette of the following matters:

(a) the date of the registration of the company as an ICAV under this section;

(b) the previous name of the company if different from the name under which it is registered as an ICAV.

(4) From the date of the registration of the company as an ICAV, the company shall become an ICAV, and shall cease to be a company, for all purposes but this section”.

Amendment No. 20 is a technical amendment to section 137(2) of the ICAV Bill which provides greater detail on the procedure involved in deregistering as a company and becoming an ICAV. Pursuant to the ICAV Bill, an investment company or UCIT may convert to an ICAV. In order to do so, the company seeking to become an ICAV must apply to the Central Bank to register as an ICAV.

Subsection (2) provides that the company must apply to the registrar of the company to deregister as a company. Subsection (3) provides that on foot of an application for deregistration, the registrar of a company must publish a notice in the Companies Registration Office gazette detailing the date of registration of the company as an ICAV and the previous name of the company, if different. Subsection (4) provides that a company will cease to exist upon the date of registration as an ICAV. It is a technical amendment to spell out in greater detail the intention.

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