Results 3,441-3,460 of 45,510 for speaker:Simon Harris

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 2:In page 12, line 11, to delete “within the meaning of the Companies Act 1963;” and substitute the following:“formed and registered under the Companies Act 2014 or an existing company within the meaning of that Act;”.These are technical amendments. Amendment No. 2 is a technical amendment to the definition of "company" so that it refers to...

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 3:In page 12, to delete lines 26 and 27 and substitute the following:“ “investment company” has the same meaning as in Part 24 of the Companies Act 2014;”.

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 4:In page 13, between lines 12 and 13, to insert the following:“ “special resolution”, in relation to an ICAV, means a resolution passed by not less than 75 per cent of the votes cast by the members of the ICAV as, being entitled to do so, vote in person or by proxy at a general meeting of the ICAV;”.This inserts the definition of "special...

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 5:In page 15, line 7, after “office” to insert “or head office”.This is a technical correction to reflect that the Central Bank needs to be notified of any change in the head office of an ICAV as well as of a registered office, which need not always be the same thing.

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 6:In page 24, line 32, after “subsection (1)” to insert “or (4)”.This corrects an error in section 27(5), which fails to take account of the fact that the Central Bank can impose conditions under both subsections (1) and (4).

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 7:In page 25, to delete lines 16 to 26 and substitute the following:“Alteration in instrument of incorporation 31. (1) No alteration in the instrument of incorporation of an ICAV shall be made unless—(a) the alteration has been approved—(i) by ordinary resolution, or (ii) if the instrument of incorporation so requires, by a resolution passed by such...

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 8:8. In page 51, between lines 6 and 7, to insert the following:“Fiduciary duties of directors of ICAVs 78. (1) Without prejudice to the provisions of any enactment (including this Act), a director of an ICAV shall owe the duties set out in section 79(“the relevant duties”) to the ICAV (and the ICAV alone). (2) The breach by a director of the...

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 9:In page 51, between lines 6 and 7, to insert the following:“Statement of principal fiduciary duties of directors of ICAVs 79. (1) A director of an ICAV shall—(a) act in good faith in what the director considers to be the interests of the ICAV, (b) act honestly and responsibly in relation to the conduct of the affairs of the ICAV, (c) act in accordance...

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 10:In page 54, to delete lines 36 to 40, and in page 55, to delete lines 1 and 2 and substitute the following:“Restrictions on directors of insolvent ICAVs82. (1) The provisions of Chapter 3 of Part 14 of the Companies Act 2014, and the other provisions of that Act relating to restrictions on directors of an insolvent company (within the meaning of section 818),...

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 11:In page 55, between lines 2 and 3, to insert the following:“Disqualification of directors etc83. (1) The provisions of Chapter 4 of Part 14 of the Companies Act 2014, and the other provisions of that Act relating to the disqualification of a person from being appointed or acting as a director or other officer, statutory auditor, receiver or liquidator, or being...

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 12:In page 55, to delete lines 37 and 38, and in page 56, to delete lines 1 to 3 and substitute the following:“(6) But where an election under subsection (4) has effect for a year—(a) one or more members of the ICAV holding, or together holding, not less than 10 per cent of the voting rights in the ICAV, or (b) the auditor of the ICAV, may require the ICAV...

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: There is no provision in regard to that but the safeguards we have put in place address the issues in respect of protecting the investors. Also, giving the auditor a voice was something those on the opposite side of the House felt was silent and with which I agreed. This is beefing it up. The legislation does not contain a provision in regard to that.

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I will bring this Bill to the Seanad and I am happy to look at that. I will revert to Deputy McGrath on that.

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I am informed by my officials that they have not received any submissions. I certainly have not.

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 13:In page 59, to delete lines 34 to 40, and in page 60, to delete lines 1 to 33 and substitute the following: “91. (1) For the purposes of this section— (a) “relevant rule of law” means any applicable rule of law that governs the priority of charges created by a body corporate, and for the avoidance of doubt, any enactment governing the...

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 14:In page 66, line 2, to delete “section 173” and substitute “section 168”.Amendment No. 14 corrects a minor cross-reference error. Amendment No. 28 provides for further detail on the cross-application of the investigation provisions. It inserts a new section 168 into the Bill and provides that the provisions of the Companies Act 2014, Part...

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 15:In page 69, line 30, to delete “subsection (5)” and substitute “subsection (5)”.This is a technical amendment to correct an error in numbering which arose on Committee Stage. Without this amendment, it would technically be necessary to renumber this reference, resulting in an error on the face of the Bill.

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 16:In page 70, between lines 19 and 20, to insert the following: “(11) In this section “international financial reporting standards” means the international financial reporting standards, within the meaning of Regulation (EC) No. 1606/2002 of the European Parliament and of the Council of 19 July 20021 adopted from time to time by the Commission of...

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 17:In page 76, line 4, to delete “section 172” and substitute “section 171”.Amendment No. 17 corrects a minor cross-reference error. Amendment No. 31 provides a restated list of which agency, the Central Bank or the Office of the Director of Corporate Enforcement is to prosecute which of the offences created in the Bill. The section is being...

Irish Collective Asset-management Vehicles Bill 2014: Report Stage (28 Jan 2015)

Simon Harris: I move amendment No. 18:In page 77, line 9, to delete “subsection (4)” and substitute “this section”.Amendment No. 18 is a correction to section 120 of the Bill which provides that the Central Bank may appoint an auditor to an ICAV in any circumstance where the ICAV has failed to appoint an auditor. Previously, the ICAV Bill 2014, as passed by the Dáil on...