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Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I move amendment No. 152: In page 1056, line 4, after “takeover” to insert “or other relevant transaction”.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I move amendment No. 153: In page 1056, line 6, after “takeover” to insert “or other relevant transaction”.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I move amendment No. 154: In page 1056, after line 29, to insert the following:“Disapplication of section 7 of Official Languages Act 2003 1430. (1) Section 7 of the Official Languages Act 2003 shall not apply in relation to this Act.(2) The text of this Act shall be made available electronically in each of the official languages as soon as practicable after its enactment.”.This...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: The point was well made by Deputy Dara Calleary. This Bill will be translated into Irish as per the Official Languages Act 2003. However, we have to be practical and pragmatic. We know there are not enough translators within the system to deal with both Irish and European Union parliamentary business. The Bill will be published in Irish at some stage. We uphold the rights of those whose...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I move amendment No. 155: In page 1059, between lines 7 and 8, to insert the following: “ S.I. No. 137 of 1987 European Communities (Mergers and Divisions of Companies) Regulations 1987 The whole Statutory Instrument ”. The purpose of the amendment is to repeal the 1987 mergers regulations. Its omission from the table of revocations was an error.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: We are considering introducing an amendment to Schedule 3 on Report Stage to separate the headings "Prepayments" and "Accrued income" in format 2 and to provide consistency between formats 1 and 2 and more consistency with the amendments proposed in section 321.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I move amendment No. 156: In page 1104, line 16, to delete “and” and substitute “or”.The purpose of the amendment is to remedy a minor error.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I am considering introducing an amendment to Schedule 6 on Report Stage to take account of SI 382 2005, Companies Act 1990 (Prescribed Alternative Accounting Standards Bodies) Regulations 2005.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I am considering introducing an amendment to Schedule 10 on Report Stage to refer to the number of members with which the company is to be registered.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I am considering introducing an amendment to Schedule 12 on Report Stage to refer to the number of members with which the company is to be registered.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I am considering introducing an amendment to Schedule 13 on Report Stage to refer to the number of members with which the company proposed is to be registered. I am also considering introducing an amendment to Schedule 14 on Report Stage to add section 213 to the list of provisions to be applied to unregistered companies in Schedule 14.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I want to be clear on the issues raised by individual members so there is no ambiguity about dealing with the questions that arose between yesterday and today on specific matters. I acknowledge the forbearance of the committee about the introduction of new amendments on Report Stage and thank them for that. The Minister, Deputy Bruton, is scheduled to meet a group from the committee next...

Seanad: Science Week: Statements (12 Nov 2013)

Seán Sherlock: I thank the House for giving me the opportunity to speak about Science Week. This week, from 10 to 17 November, Ireland will reverberate with the sights and sounds of science when Science Week 2013 takes place. There is a lot of alliteration in that sentence. Now in its seventh year, Science Week is a national initiative co-ordinated by Science Foundation Ireland's Discover programme that...

Seanad: Science Week: Statements (12 Nov 2013)

Seán Sherlock: I am already on a bed of nails.

Seanad: Science Week: Statements (12 Nov 2013)

Seán Sherlock: May I clarify something? I did not quite understand what the Senator was referring to when he spoke about some people being one page ahead of others.

Seanad: Science Week: Statements (12 Nov 2013)

Seán Sherlock: I will endeavour to respond in the best way I can to the points raised. I genuinely acknowledge the contributions of my fellow Members of the Oireachtas. Hopefully I will be able to respond, and if I am not, Members should not hesitate to follow up with me. Senator Mary White referred to a dual education system, and I wholeheartedly agree with the point she made. The example of the...

Seanad: Companies (Miscellaneous Provisions) Bill 2013: Committee Stage (19 Nov 2013)

Seán Sherlock: Amendment No. 1 provides that a company is to be treated as a small company if it qualified as a small company for the most recent financial year ended before the application for examinership. Under section 8 of the Companies (Amendment) Act 1986 a company qualifies as a small company if it meets the qualifying conditions in respect of a financial year. In the Bill, as initiated, the...

Seanad: Companies (Miscellaneous Provisions) Bill 2013: Committee Stage (19 Nov 2013)

Seán Sherlock: I will respond first to Senator Barrett's remarks and thank him for his kind words of welcome. The costs of an examinership will depend not only on the capitalisation or book value of the assets of a company but also on the nature and extent of the company's liabilities and the complexity of a particular case. Hence, it would be extremely difficult to estimate the cost of a typical...

Seanad: Companies (Miscellaneous Provisions) Bill 2013: Committee Stage (19 Nov 2013)

Seán Sherlock: Notwithstanding the valid points made, I respectfully suggest that these issues should be dealt with under the Legal Services Regulation Bill, which is before the Dáil at present. I note the points made and they will certainly be reflected back to the relevant Minister.

Seanad: Companies (Miscellaneous Provisions) Bill 2013: Committee Stage (19 Nov 2013)

Seán Sherlock: I return to my response to the amendment. The 30% figure mentioned in public discourse on the issue refers to the estimated Circuit Court costs being 30% lower than an examinership process through the High Court owing to the legal fees element. If we do not know how many companies will go into examinership from today and 12 months hence, how can we reasonably expect to create an estimate of...

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