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Seanad: Order of Business. (29 May 2003)

Mary White: We had an interesting discussion last night on the Companies (Auditing and Accounting) Bill 2003. There were differences of opinion on this side of the House on aspects of it.

Seanad: Order of Business. (29 May 2003)

Mary White: We had a healthy debate and Senator Mooney made an excellent contribution to it. I support the request of Senators Quinn and Maurice Hayes. Senator Moylan made the correct decision last night by indicating that the Remaining Stages of the Bill should be taken today. That has allowed the matter to be discussed on the Order of Business. However, the dignity of this House is at stake and I...

Seanad: Order of Business. (29 May 2003)

Mary White: Hear, hear.

Seanad: Protection of Employees (Fixed-Term Work) Bill 2003: Second Stage. (29 May 2003)

Mary White: The socialist republican party.

Seanad: Protection of Employees (Fixed-Term Work) Bill 2003: Second Stage. (29 May 2003)

Mary White: Hear, hear.

Seanad: Protection of Employees (Fixed-Term Work) Bill 2003: Second Stage. (29 May 2003)

Mary White: That comment was misunderstood. Senator McDowell was not at the meeting

Seanad: Protection of Employees (Fixed-Term Work) Bill 2003: Second Stage. (29 May 2003)

Mary White: I serve the economy and was part of the culture of the 1950s as a teenager, but I differ fundamentally from Senator McDowell regarding the concept of a permanent pensionable job. A permanent pensionable job rather than a fixed-term job could be a sentence that limits a person's ability to explore his or her potential. This Bill gives status to non-pensionable employment and allows for...

Seanad: Protection of Employees (Fixed-Term Work) Bill 2003: Second Stage. (29 May 2003)

Mary White: Everybody knows what I mean. Some people are getting on well in their permanent and pensionable jobs, but many are not. Fixed-term contracts could be better in many ways for a company and the country. There is nothing wrong with them. A company is only in business as long as it has sales. We cannot look at it as exploitation of workers. There is little of that. Companies do not succeed unless...

Seanad: Protection of Employees (Fixed-Term Work) Bill 2003: Second Stage. (29 May 2003)

Mary White: I am not. There are so few women in the Oireachtas – 13% in the Dáil and 16% in the Seanad – that perhaps we need the European Union to bring in legislation to insist we have a certain percentage of women representatives in Parliament. This sort of change is not being driven here culturally. That we have so few women in our Parliament is an unnatural undemocratic situation. I am sure the...

Seanad: Protection of Employees (Fixed-Term Work) Bill 2003: Second Stage. (29 May 2003)

Mary White: I do not hear my colleagues saying we need more women in the House. Senator Leyden is charming and courteous.

Seanad: Protection of Employees (Fixed-Term Work) Bill 2003: Second Stage. (29 May 2003)

Mary White: It is unnatural. The Government should state that a certain percentage of Members of the Seanad and the Dáil must be women. Why must we wait for everything? I am sorry for meandering, but I wanted to make that point.

Seanad: Protection of Employees (Fixed-Term Work) Bill 2003: Second Stage. (29 May 2003)

Mary White: At the parliamentary party meeting.

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Mary White: We could give the Senator a push.

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Mary White: In regard to the five year period, there seems to have been some confusion among those who drew up the legislation. Perhaps they were thinking of semi-State bodies. If someone was employed by a semi-State body and they became a director, they could have information which could give them power. In a private company, it could be imperative that an ex-employee become a director as soon as...

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Mary White: I have listened to the comments of the Senators regarding section 43(4)(a). The problem is that there is a myriad of company sizes. We are talking of small, medium and mega-sized companies, the latter spoken of by Senator Leyden. These are companies with billion-euro revenues. Regarding small and medium-sized companies and high-risk new technology companies, section 43(4)(a) is a monster.

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Mary White: I refer to section 43(4)(a) –"acknowledging that the directors are responsible for securing the company's compliance with its relevant obligations"–

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Mary White: I am referring to section 43(4)(a). I was in the House last night and I have been here all day. I know what I am talking about.

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Mary White: I want to talk about this. It is very serious.

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Mary White: The problem with this section is that there is a myriad of different-sized companies. They might have revenues of €3 million, €4 million, €50 million or €100 million. I said in the House last night that there should be a cut-off point in regard to directors' obligations, perhaps starting with a firm with revenues of €100 million. Is that point clear? The section is a monster for...

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Mary White: There is a golden circle. Senator Leyden was talking of high-profile companies. It appears to the public that the directors of these companies are not taking responsibility for certain failures. Without naming names, Nick Leeson of Barings Bank– (Interruptions).

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