Results 3,241-3,260 of 13,254 for speaker:Seán Sherlock

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I move amendment No. 16: In page 104, to delete lines 19 to 25 and substitute the following:"(b) if the company has not given notice to the Registrar of the situation of its registered office, by delivering it to the Registrar.".

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I move amendment No. 17: In page 104, between lines 31 and 32, to insert the following:"(3) It shall be the duty of the Registrar to enter on the register a document that has, by the means referred to in subsection (1)(b), been served on a company.".

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I move amendment No. 18: In page 105, line 36, after "articles" to insert "and subject to subsection (3) of that section".

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I am considering introducing an amendment to section 59 in order to clarify whether Parts 1 to 15, inclusive, of the Bill apply to an existing company upon delivery of its constitution or following the registration of the constitution by the registrar.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: They have not been devised in the past few days. The sheer volume of amendments meant there were certain pressures in regard to the drafting of the Bill. I have given some latitude to the drafters in terms of the pressures they faced. I hope members, likewise, will make allowances for that and engage with the proposals on Report Stage.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: The objective here is to consolidate an item of legislation that is the size of a telephone book.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I do not accept that there is any sense of pulling anything out of the hat in terms of the substance of the legislation. Section 59 is effectively a new section which stipulates that during the transition period, the law applicable to an existing private company limited by shares will be contained in Part 16. There is still some work to be done on that. I ask members for some latitude in...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: To clarify, there is no intention to make substantive changes to the law itself in terms of its qualitative aspect. However, there has been some engagement since Second Stage with practitioners, in the light of which several amendments will be introduced on Report Stage. The word "technical" is not quite correct, but their purpose will essentially be to make the law more efficient in the...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I move amendment No. 19: In page 108, line 24, to delete "regulations." and substitute the following:"regulations; for the avoidance of doubt, the requirements of sections 19 and 26(1) relating to a company’s name shall apply despite any exemption of the kind referred to in section 62(3) that had been enjoyed by the company under the prior Companies Acts.".

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I move amendment No. 20: In page 109, to delete line 19 and substitute the following:"(b) the provisions of its existing articles,but, despite any exemption of the kind referred to in section 62(3) that had been enjoyed by the company under the prior Companies Acts, nothing in this subsection shall be read as overriding the requirements of sections 19 and 26(1) relating to a company’s...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I move amendment No. 21: In page 110, between lines 25 and 26, to insert the following: "(3) Notwithstanding—(a) section 24, as originally enacted, of the Act of 1963; or (b) section 24, inserted in the Act of 1963 by section 88(1) of the Company Law Enforcement Act 2001, in place of the first-mentioned section,and the continuing effect, for certain other types of company, provided...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I move amendment No. 22: In page 112, line 17, after "shall" to insert the following:", unless this Act provides that on re-registration the company shall continue to enjoy an exemption conferred by or under either of the sections referred to in section 62(3),".The amendment proposes, unless the Bill otherwise prohibits, to allow an existing private company which re-registers as a designated...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I am considering introducing amendments to Part 3 on Report Stage to harmonise advertising requirements for notifying creditors of a proposed reduction in capital and to ensure the requirement to advertise in one daily newspaper only is consistently applied within the provisions of the Bill. In regard to section 65, I am considering Report Stage amendments to insert a cross-reference to...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I move amendment No. 23: In page 116, line 33, to delete “redeemable shares” and substitute the following:"shares that are redeemable (which shall be known, and are referred to in this Act, as "redeemable shares")".

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I move amendment No. 24: In page 117, between lines 3 and 4, to insert the following:"(8) In subsections (9) and (10) "bearer instrument" means an instrument, in relation to shares of a company, which entitles or purports to entitle the bearer thereof to transfer the shares that are specified in the instrument by delivery of the instrument. (9) A company shall not have power to issue any...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I am considering introducing an amendment to section 69(3) on Report Stage. The purpose of this amendment is to use the words "securities" instead of "debentures". Further, the purpose of this amendment is to bring the language used in the Bill in line with European Regulation 2003/71 EC.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I am considering introducing amendments to section 70 on Report Stage to clarify which shareholders may participate in a pre-emptive offer, correct an error on pre-emptive offers of shares, clarify whether the holders of preference shares are excluded from pre-emption rights in the issue of new shares, ensure no loophole exists in the statutory pre-emption rights of shareholders, insert a...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I move amendment No. 25: In page 122, to delete lines 5 to 15 and substitute the following:"(7) Where a company allots shares, it shall, within 30 days after the date of allotment, deliver particulars of the allotment in the prescribed form to the Registrar.".

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I will read out the explanation. This amendment deletes section 71(7)(b). This amendment is proposed on foot of a recommendation from the Revenue Commissioners who advised that recent developments in the direction of self-assessment make reference to adjudications by Revenue obsolete. Does that explain it?

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: The information from my colleagues is that it is obsolete in existing law.