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Seanad: Order of Business. (27 May 2003)

Paul Coghlan: No, with respect, I think she found €12 million.

Seanad: Order of Business. (27 May 2003)

Paul Coghlan: I wish to move to a different subject. Will the Leader ask the Tánaiste to suspend immediately the reduction of 5,000 in the numbers participating in the community employment schemes at this time of economic downturn and lack of job opportunities for so many in the community and given what is happening in parishes and community and voluntary organisations? Since the situation is so difficult...

Seanad: Order of Business. (28 May 2003)

Paul Coghlan: I support Senators Brian Hayes, Dardis and Ormonde in their calls for a debate on the report on the Convention on the Future of Europe. There are many issues in the report of huge concern to small countries and it is timely that we should address them. On the question of increasing prices, and rip-off Ireland was referred to again today, we are all concerned about the impact on...

Seanad: Order of Business. (28 May 2003)

Paul Coghlan: It is a separate issue. An announcement was made about the establishment of a new Oireachtas committee dealing with competitiveness to be chaired by the Leader's illustrious colleague, Deputy Ned O'Keeffe. It would appear the committee has much important work to do. Will the Leader indicate when this committee will be formally established?

Seanad: Order of Business. (28 May 2003)

Paul Coghlan: I asked when a committee on competitiveness would be established.

Seanad: Companies (Auditing and Accounting) Bill 2003: Committee Stage. (28 May 2003)

Paul Coghlan: I move amendment No. 1: In page 7, before section 5, to insert the following new section: 5.–(1) Subject to subsection (2), unless a person is a qualified person, he shall not: (a) describe himself as an accountant, or (b) so hold himself out so as to indicate, or be reasonably understood to indicate, that he is an accountant. (2) Subsection (1) shall not prevent any person who is:– (a) a...

Seanad: Companies (Auditing and Accounting) Bill 2003: Committee Stage. (28 May 2003)

Paul Coghlan: While I am glad to hear some of those comments, with respect, this matter should be at the root of the Bill. Every day in this House we preach and argue about the rights of and protecting the consumer. How can we establish a new regulatory body, which I fully support, as do Members on both sides of the House, to deal with the supervision of the members of the bodies concerned when the Bill...

Seanad: Companies (Auditing and Accounting) Bill 2003: Committee Stage. (28 May 2003)

Paul Coghlan: I support Senator Quinn's point. There is a bit of an imbalance, a point with which I am sure the Minister of State would sympathise. If he cannot accept the Senator's amendment, perhaps he could guarantee it will be addressed in the near future, as in the case of the earlier amendment regarding the title of accountant and the definition. It seems that not only is the Minister of State...

Seanad: Companies (Auditing and Accounting) Bill 2003: Committee Stage. (28 May 2003)

Paul Coghlan: Someone should have the power to break the logjam in that eventuality.

Seanad: Companies (Auditing and Accounting) Bill 2003: Committee Stage. (28 May 2003)

Paul Coghlan: I move amendment No. 14: In page 21, lines 3 and 4, to delete paragraph (a) and substitute the following paragraph: "(a) appealing the decision of that body relating to that matter that was the subject of the enquiry to the High Court,". This section deals with the intervention powers of the supervisory authority. This amendment has been tabled to ensure that due process is followed in...

Seanad: Companies (Auditing and Accounting) Bill 2003: Committee Stage. (28 May 2003)

Paul Coghlan: In that case, I am prepared to withdraw the amendment to allow for further consideration. I will hear the Minister tomorrow.

Seanad: Companies (Auditing and Accounting) Bill 2003: Committee Stage. (28 May 2003)

Paul Coghlan: I accept that could be possible.

Seanad: Companies (Auditing and Accounting) Bill 2003: Committee Stage. (28 May 2003)

Paul Coghlan: On the basis that the Minister is sympathetic to the substance, I withdraw the amendment. We will hear the Minister tomorrow. Amendment, by leave, withdrawn.

Seanad: Companies (Auditing and Accounting) Bill 2003: Committee Stage. (28 May 2003)

Paul Coghlan: It is a valid point.

Seanad: Companies (Auditing and Accounting) Bill 2003: Committee Stage. (28 May 2003)

Paul Coghlan: The amendment in question relates to section 30.

Seanad: Companies (Auditing and Accounting) Bill 2003: Committee Stage. (28 May 2003)

Paul Coghlan: I move amendment No. 30: In page 35, to delete lines 18 to 51 and in page 36 to delete lines 1 to 13. Section 35 deals with the statutory backing for the disciplinary arrangements of the prescribed accountancy bodies. I propose these deletions to ensure that the disciplinary procedures are efficient, not subject to undue administrative delay and that evidence can be compelled from persons...

Seanad: Companies (Auditing and Accounting) Bill 2003: Committee Stage. (28 May 2003)

Paul Coghlan: Will the Minister of State confirm that he is sympathetic to a further review and that the matter is under active consideration?

Seanad: Companies (Auditing and Accounting) Bill 2003: Committee Stage. (28 May 2003)

Paul Coghlan: I totally agree with Senator Quinn. Many of us mentioned this issue on Second Stage. Although the Minister of State was, and perhaps still is, sympathetic, the compliance statement should only apply to large companies with hundreds or thousands of shareholders. In such instances it may be necessary. Ignorance of the law is no excuse. Everybody must obey it. Senator Quinn has advanced the...

Seanad: Companies (Auditing and Accounting) Bill 2003: Committee Stage. (28 May 2003)

Paul Coghlan: I support that point.

Seanad: Companies (Auditing and Accounting) Bill 2003: Committee Stage. (28 May 2003)

Paul Coghlan: I move amendment No. 45: In page 51, to delete lines 9 to 15 and substitute the following: "(a) Irish Companies Acts, and (b) Irish tax law;". This section relates to directors' compliance and related statements, about which all of us got worked up on Second Stage. The reason I have tabled the amendment is to simplify the relevant obligations, allow the report to acknowledge if a report has...

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