Robert Troy (Longford-Westmeath, Fianna Fail) | Oireachtas source

I hope the Deputy can clarify his amendment because we are not sure we fully understand what he seeks to amend. He has tabled an amendment to the new section 558X proposed in section 3. This section provides for supplemental provisions relating to proxies at a meeting of members and creditors to consider rescue plans and directly mirrors existing provisions of the Companies Act. The proposed section 558X(5) provides that, where a company is a creditor, any person authorised under that company's seal to act on its behalf at such meetings may appoint him or herself to be the company's proxy. The Deputy's amendment would provide that persons so authorised to act accordingly could not include employees of the creditor company. The intent of this amendment is unclear. The Department's officials consider that the Deputy may have made an error with this amendment and that he may have meant to amend provisions dealing with cross-class cram-down to exclude employees. Perhaps the Deputy will clarify his intent.

See this speech in context