Results 3,001-3,020 of 45,510 for speaker:Simon Harris

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 54: In page 75, between lines 20 and 21, to insert the following:“Public notice of intention to strike company off register 130.(1) If the Bank has given a notice under section 127and the remedial step has not been taken on or before the date specified in that notice for the purposes of section 128(1)(e), the Bank may, by publishing a notice in the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 55: In page 75, between lines 20 and 21, to insert the following:“Conditions for voluntary strike off 131.(1) An ICAV may apply to the Bank to be struck off the register of ICAVs if the following conditions are satisfied:(a) the circumstances relating to the ICAV are such as to give the Bank reasonable cause to believe that it has never carried on business or has...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 56: In page 75, between lines 20 and 21, to insert the following:“Public notice in case of voluntary strike off 132.(1) As soon as practicable after the receipt of an application by an ICAV to be struck off that satisfies the conditions set out in section 131* the Bank shall, by publishing a notice in the Iris Oifigiúil that complies with subsection (2), give...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 57: In page 75, between lines 20 and 21, to insert the following:“Striking off (involuntary and voluntary cases) and dissolution 133.(1) If the Bank has given a notice under section 130and the remedial step has not been taken on or before the date specified in that notice for the purposes of subsection (2)(c)of that section, the Bank may strike the ICAV off the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 58: In page 75, between lines 20 and 21, to insert the following:“Effect of removal and dissolution 134.(1) The liability, if any, of an officer or member of an ICAV that has been dissolved under section 133(4)shall continue and may be enforced as if the ICAV had not been dissolved.(2) Nothing in this section or in section 133*shall affect the power of the High...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 59: In page 75, between lines 20 and 21, to insert the following:“Power of Bank to obtain information 135.(1) Where an ICAV has been struck off the register of ICAVs under section 133on any of the grounds set out in section 126(a)or (b), the Bank may, by notice to the directors of the ICAV, require those persons to produce to the Bank a statement of affairs of the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 60: In page 75, between lines 20 and 21, to insert the following: “Chapter 2 Restoration of ICAV to registerApplication of Chapter 136.This Chapter applies to an ICAV that has been struck off the register of ICAVs under Chapter 1.”.This relates to Chapter 2 of this new section and as I have noted deals with restoration in regard to "strike off". The...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I want to check I have got the question right. There must be a minimum of two directors of an ICAV.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: There must be a secretary in addition to the directors.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: The secretary must be in addition to the directors.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: No, I am sorry, I have accidentally misled the Deputy. One of the directors may be the secretary. Therefore, only two are required.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: Yes, and they can be members or officers of the ICAV.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: The shareholders in the ICAV.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: Yes, it is the members or the officers.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: It is. However, in the context of the strike off, there are one or two obvious differences, where an ICAV differs from a company. Therefore, we cannot strike off a company straight off. We cannot strike off the ICAV without ending the authorisation, as we discussed earlier. An ICAV does not have to file an annual statement. In general, the policy intent is the same as it was on Second Stage.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 61: In page 75, between lines 20 and 21, to insert the following:“Restoration on application to Bank 137.(1) On an application by a person specified in subsection (3), the Bank may restore an ICAV to the register of ICAVs if —(a) the Bank has reasonable cause to believe that the strike off of the ICAV has disadvantaged the applicant, (b) the application is...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 62: In page 75, between lines 20 and 21, to insert the following:“Restoration on application to High Court 138.(1) On an application in accordance with section 139by a person specified in subsection (2), the High Court may order that an ICAV that has been struck off the register of ICAVs be restored to the register of ICAVs if —(a) the striking off of the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 63: In page 75, between lines 20 and 21, to insert the following:“Requirements for application to High Court under section 138 139.(1) An application under section 138shall be made on notice to the Bank, and the Revenue Commissioners.(2) In the case of an application under section 138by a creditor, the application shall in addition be made on notice to —(a)...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 64: In page 75, between lines 20 and 21, to insert the following:“Terms of High Court order on application under section 139 140.(1) In making an order under section 138on the application of a member or an officer of the ICAV, the High Court shall, unless reason to the contrary is shown to the satisfaction of the High Court, make it a term of the order that the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 65: In page 75, between lines 20 and 21, to insert the following:“High Court order for restoration on application of Bank 141.(1) On an application by the Bank in accordance with subsection (2), the High Court may order that an ICAV that has been struck off the register of ICAVs be restored to the register of ICAVs if —(a) the application is made within the...