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

Seán Sherlock: I move amendment No. 95: In page 601, line 12, to delete "90 days" and substitute "3 months".

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

Seán Sherlock: I move amendment No. 96: In page 601, line 37, to delete “3 years” and substitute “6 years”.

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

Seán Sherlock: The purpose of the amendment is to increase the period for retention of documents from three to six years.

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 708 on Report Stage to increase the three year retention period for accounting records.

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

Seán Sherlock: I move amendment No. 97: In page 603, line 10, to delete “the CRO Gazette” and substitute “Iris Oifigiúil”.

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

Seán Sherlock: I move amendment No. 98: In page 605, line 43, to delete “a month” and substitute “30 days”.

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

Seán Sherlock: I am considering introducing an amendment to Part 12 on Report Stage to address the restoration of companies that are stuck off and dissolved prior to the enactment of the Bill or during the transition period and to deal with the restoration of companies after the end of the transition period.

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

Seán Sherlock: It is 18 months.

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

Seán Sherlock: Yes. From the time of commencement of the Bill.

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

Seán Sherlock: Yes.

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

Seán Sherlock: I cannot give Deputy Lawlor a definitive answer but it is normally between three and six months.

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

Seán Sherlock: If Deputy Lawlor articulates a specific concern about the timeframe to us we will be happy to deal with it again at the briefing to be held before Report Stage and we will revert to the Deputy. We can give him assistance if he is concerned about an 18 month period.

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

Seán Sherlock: The maximum period is 18 months but it can be done straight away. Let us remember that the provision addresses the "restoration of companies that are stuck off and dissolved prior to the enactment of the Bill or during the transition period and to deal with the restoration of companies after the end of the transition period." That lasts for up to 18 months or so but a company could move...

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

Seán Sherlock: I understand that the committee hearings may have dealt with the matter but perhaps they have not. I ask the Chairman to clarify the matter. The business community sought a certain transition period.

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

Seán Sherlock: Exactly.

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

Seán Sherlock: Yes.

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

Seán Sherlock: Yes.

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

Seán Sherlock: Yes.

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 732 on Report Stage to extend the time limit on the Revenue Commissioner's right to object to a company being struck off.

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

Seán Sherlock: The current time limit is six months.

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