Results 3,361-3,380 of 13,254 for speaker:Seán Sherlock
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: There is no proposed amendment here. The issue Deputy Calleary raises has been referred to the Company Law Review Group.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: Truthfully, I do not anticipate that we will have it by Report Stage.
- 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 321 on Report Stage. The purpose of the amendment is to limit its application to accounting standards.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: The 2006 directive is not a maximum harmonisation directive and therefore there is no obligation under European Union law not to gold plate its provisions. The suggestion is, therefore, inessential given that the Bill's provisions are drawn from existing law and that the proposed change would facilitate concealment of fees by falsely categorising them as expenses.
- 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 337 on Report Stage. The cross-referencing in the section is incorrect.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: I move amendment No. 67: In page 348, to delete lines 34 and 35 and substitute the following:“sections 732 to 734 but— (a) subsection (10) has effect as regards the interpretation of this subsection; and (b) in addition to the foregoing, the exemption conferred by this subsection shall cease to apply where the company is not ultimately dissolved on foot of that procedure or, if...
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: It falls to a company to decide its own dates in that sense.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: I move amendment No. 68: In page 349, to delete lines 44 to 47 and in page 350, to delete lines 1 and 2 and substitute the following:“(2) Save in the case of a company delivering its first annual return and subject to subsections (3) and (4), a company may establish a new annual return date by delivering an annual return to the Registrar made up to its existing annual return date in...
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: I am also considering introducing an amendment to section 347 on Report Stage to clarify the period during which a company may file a request to change the annual return date.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: I move amendment No. 69: In page 350, to delete lines 25 to 33 and substitute the following:“annexed to the annual return a copy of the following documents that have been, or are to be, laid before the relevant general meeting— (a) the statutory financial statements of the company; (b) the directors’ report, including any group directors’ report; and (c) the...
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: I am considering introducing an amendment on Report Stage. The amendment relates to the incorrect cross-referencing in section 351(8).
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: I am considering introducing an amendment on Report Stage. The purpose of the amendment is to clarify that in section 357(1)(a) the original statement of the auditors is required to be filed with the Companies Registration Office rather than a copy.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: I am considering introducing an amendment on Report Stage to ensure that this exemption, which aims to provide small indigenous Irish companies with an audit exemption, is not inadvertently given to a small Irish parent company with substantial non-Irish subsidiaries.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: The Irish Auditing and Accounting Supervisory Authority, which is a statutory body, is the umbrella organisation that has charge of or would monitor or audit the auditors in that sense. However, given the question has been raised, I am minded to revert to the Deputy with a more complete answer on the exact question he asked, if that is all right.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: Okay.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: Did that body answer that question?
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: Okay. It is proposed to strengthen that aspect and to change it to reflect the concerns.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: I can take a look at that before Report Stage. Is there particular language that must be built into it?
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: While this matter has been referred to the company law review group, I will give the Deputy some thoughts on it here. The question effectively pertains to the requirement that an audit give a true and fair view sufficiently robust to ensure accurate accounting. That is the aspect.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: Fair enough. As EU law requires that statutory audits give a true and fair view, this already is inherent within EU law. While I will not go into the particulars of the directive, Article 35 states "an audit opinion, which shall be either unqualified, qualified or an adverse opinion and shall state clearly the opinion of the statutory auditor ... as to whether the annual financial...