Simon Harris (Wicklow, Fine Gael) | Oireachtas source

I move amendment No. 24:

In page 95, to delete lines 13 to 18 and substitute the following:

“148. (1) The provisions of Part 8 of the Companies Act 2014, and the other provisions of that Act relating to receivers, apply, subject to the necessary modifications and to the specific modifications specified in subsection (2), in relation to an ICAV as if it were an investment company.

(2) The modifications are the following:

(a) references to the Registrar are to the Bank;

(b) references to the prescribed form are to such form as may be specified by the Bank;

(c) references in section 431(1)(e) to such further or other information as may be prescribed are to such further or other information as may be specified by the Bank;

(d) in section 439(4) the reference to section 220 is to section 77of this Act and paragraphs (b) and (c) are omitted;

(e) the references in section 447 to the Director of Corporate Enforcement include the Bank.”.

Amendment No. 24 sets out some further detail on the cross-application to the ICAVs of the provisions of the Companies Act 2014 relating to the receivers of investment companies which are found at Part 8 of the Companies Act 2014. Amendment No. 25 sets out some further detail on the cross-application to ICAVs of the provisions of the Companies Act 2014 relating to the winding up of investment companies which are found in Part 11 of the Companies Act 2014. Companies may be wound up by three different methods – members voluntary liquidation, creditors voluntary liquidation and court ordered or compulsory liquidation.

Companies may be wound up by three different methods: members' voluntary liquidation, creditors' voluntary liquidation and court ordered or compulsory liquidation. The liquidator is the person appointed to supervise and implement the company's winding up, and this is a further detailed cross-application.

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