Dáil debates

Wednesday, 10 November 2021

Companies (Corporate Enforcement Authority) Bill 2021: Report and Final Stages

 

7:32 pm

Photo of Louise O'ReillyLouise O'Reilly (Dublin Fingal, Sinn Fein) | Oireachtas source

I move amendment No. 4:

In page 27, to delete lines 5 to 12.

This amendment is similar to the previous amendment. It concerns limitations on imposing monetary sanctions on relevant directors. It states that the authority may not impose on a director a monetary sanction that would make him or her bankrupt. It provides that only one monetary sanction may be imposed where more than two breaches of the same conduct have occurred. I am not suggesting that all sanctions should be to the point of bankruptcy or that that should be the effort, target or aim. However, I want to put on record my concern that this provision could find itself manipulated to deliver undue benefit to those who may have committed a transgression for which they should be sanctioned. Additionally, and this was said by another Member on Second Stage, if someone breaks any one of the State's bylaws on parking or road tolls, they have to pay a fine for each of those. They do not get to say “well, I did not pay my toll twice but I only have to pay once”. I did not raise that issue, it was raised by another Member. It seems somewhat incongruous that this provision is in the same section as the one regarding anonymity. I know the Minister of State addressed some of the concerns on Committee Stage. I have resubmitted this amendment so that we can further tease it out here.

Comments

No comments

Log in or join to post a public comment.