Results 3,321-3,340 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 am considering introducing an amendment to section 215 on Report Stage to widen its scope in order to provide for different methods of storing virtual information.

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

Seán Sherlock: I move amendment No. 53: In page 231, lines 33 to 35 to delete all words from and including "and" in line 33 down to and including "maintaining." in line 35 and substitute the following:"(c) this section and section 217 a reference to keeping includes a reference to maintaining; and (d) section 217(3) the requirement thereunder to keep a register or other document at a place shall be deemed...

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

Seán Sherlock: I move amendment No. 54: In page 234, to delete lines 42 to 45 and substitute the following:"(3) In this section "registered address", in relation to a member, means the address of the member as entered in the register of members.".

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

Seán Sherlock: I am considering introducing a further amendment to this section on Report Stage to further improve the ability of companies to serve notice in a modern and effective manner.

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

Seán Sherlock: I move amendment No. 55: In page 235, line 7, to delete "and a warranty".

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

Seán Sherlock: I understand the Deputy's proposal. I am advised that his suggestion is part of the law as it stands and that, therefore, no amendment is required. Under section 18 of the Interpretation Act, a person includes a body corporate. This is why the definition is not explained specifically in this section. It has been upheld in the High Court in Fyffes plc v DCC plc & ors, IEHC 477, and...

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

Seán Sherlock: The courts effectively agree with the view proffered by the Deputy. The law is sufficient as it stands.

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

Seán Sherlock: Under existing law, directors are required to have regard to the interests of employees. This amendment would change it to a duty to employees. This may mean that members and employees would have a directly enforceable right against directors where they act contrary to their respective interests. This would compromise the fundamental structure of the directors' relationship with the...

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

Seán Sherlock: No.

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

Seán Sherlock: Notwithstanding the fact that the Deputy has been brushing up on his neo-Marxist economic theory - it sounds vaguely familiar from my college days - this question was dealt with comprehensively by the Company Law Review Group, CLRG, in its 2005 report on directors' compliance statements. If members will pardon my use of acronyms, the CLRG decided that such extra duties would do little to...

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

Seán Sherlock: I beg the Chairman's indulgence. To a certain extent, I understand the motive behind the amendment, but one must factor into the equation a corpus of environmental, health and safety and employment law. The issue of negative or positive externalities does not arise. We must ensure that there is robust legislation. Every citizen is subject to the existing corpus of law and companies are...

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 227 on Report Stage. The purpose of this amendment is to provide an exemption for USIT's companies as regulated by 2011 EU regulations.

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

Seán Sherlock: I move amendment No. 60: In page 243, to delete lines 25 and 26 and substitute the following:"(h) in addition to the duty under section 225 (duty to have regard to the interests of its employees in general), have regard to the interests of its members.".

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

Seán Sherlock: The purpose of this amendment is clarificatory in nature. The current text refers to the directors having a duty to have regard to the interests of members in addition to the general duty owed to employees under section 225. However, section 225 does not impose such a duty on directors to their employees. Section 225 provides that the matters to which the directors are to have regard in...

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

Seán Sherlock: I beg the Chair's indulgence, but can the Deputy please explain that again?

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

Seán Sherlock: We can look at that again on Report Stage for Deputy Calleary.

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

Seán Sherlock: Such documents are already in circulation and are available free from the Office of the Director of Corporate Enforcement's website. The Companies Registration Office already sends these documents to directors of newly formed companies. However, because most companies are formed by company formation's businesses, the documents generally do not get to the directors at all. More important...

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

Seán Sherlock: When people sign up as directors they have obligations. As I said earlier, more important in this respect, is that people applying to be registered as directors must acknowledge that they understand and accept their responsibilities as directors when completing form A1 or form B10. Therefore, that obligation is already there.

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

Seán Sherlock: I do not think anybody would disagree with the sentiments expressed. This is not a matter for primary legislation. It could be dealt with through the ODCE and CRO simplifying the language or ensuring that people are made aware in the starkest terms of their obligations in relation to any legal entity of which they become part. That is perhaps all one can do. If somebody decides to become...

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

Seán Sherlock: Yes.