Results 1,381-1,400 of 4,414 for speaker:Sean Barrett

Seanad: Companies (Miscellaneous Provisions) Bill 2013: Second Stage (14 Nov 2013)

Sean Barrett: The Minister of State is very welcome, as always. I thank my colleagues, Senators Mary White and Deirdre Clune, for their contributions. Senator White pointed out that going to the Circuit Court could result in a saving of 30% on legal costs as compared with proceedings in the High Court. All such savings are very welcome. I echo Senator Clune's comments regarding the reduction in rents...

Seanad: Companies (Miscellaneous Provisions) Bill 2013: Second Stage (14 Nov 2013)

Sean Barrett: Indeed, and bankers in general. The lack of standards in banking is something every member of the Joint Committee on Finance, Public Expenditure and Reform sees every time representatives appear before it. The Government has had to ask the same questions about Newbridge Credit Union this week. The figure amounts to €54 million, as if the taxpayer is a bottomless pit. Who are the...

Seanad: Passenger Name Record Data: Motion (14 Nov 2013)

Sean Barrett: I welcome the Minister. Like Senator Byrne, I support the Minister on both of these motions. I lived in Canada for a number of years and know the human rights record there is extremely good, so there is no fear the data would be misused, and Canada would share our abhorrence of terrorism, drugs and human trafficking. As I said on the Order of Business, it is important that we do this now...

Seanad: Order of Business (19 Nov 2013)

Sean Barrett: I join with my colleagues in welcoming the Clerk Assistant, Ms Jody Blake back. I commiserate with the Coghlan family and wish Senator Jimmy Harte a speedy recovery. I wish to be associated with Senator Healy Eames's amendment to the Order of Business. We had a most interesting speech on it by the Minister of State, Deputy Kathleen Lynch. I learned far more from her speech than is apparent...

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

Sean Barrett: I move amendment No. 7: In page 4, between lines 27 and 28, to insert the following:“(3) The Minister shall submit to the Oireachtas an annual estimates of savings due to the operation of this amendment.”.I welcome the Minister of State. It is always a pleasure when he comes to the House. The object of the exercise in transferring the jurisdiction for these procedures of...

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

Sean Barrett: I am concerned over what the Minister of State has said. On the previous day I was more convinced there would be savings from going to the Circuit Court rather than the High Court. Now the Department does not know and has given the Minister of State a note indicating that it cannot tell. Too much policy making is not based on evidence. If the Circuit Court is not cheaper than the High...

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

Sean Barrett: When the Minister of State, Deputy Kathleen Lynch, was here the last day she said:Access to a more affordable mechanism for restructuring makes it more likely that more small companies will avail of examinership, thus providing them with a greater chance of economic survival. In particular, businesses with potential for growth and job creation, which are being held back by legacy debt...

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

Sean Barrett: I thank the Minister for his explanation.

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

Sean Barrett: I move amendment No. 11: In page 10, between lines 35 and 36, to insert the following:“(9) The Recognised Accountancy Bodies remain the oversight bodies for the external quality assurance of audits until the enactment of this Act and shall retain the duties and obligations of such oversight up to and including that date.”.I have the greatest concerns about this section. I call...

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

Sean Barrett: I thank the Minister of State, Deputy Sherlock, for his statement. What the Minister of State Deputy Lynch said on that was that the Government had decided that Ireland should move to a model of independent inspection of the audit of public interest entities based on the model set out in the European Commission recommendation on this matter. She also said it had decided that the Irish...

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

Sean Barrett: I shall not press my amendment. I have been assured by the Minister of State that the dross that is currently in the system will remain the responsibility of those who caused it and that it will be only on enactment, by the President, that the measure will take effect.

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

Sean Barrett: I move amendment No. 12: In page 10, between lines 35 and 36, to insert the following:“(9) A public interest entity is in this section defined to include credit institutions, insurance undertakings and listed companies.”.As far as I can see - and there is no claim of perfection on this side of the House - "public interest entity" is not defined in the Bill. The definition I...

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

Sean Barrett: I thank the Minister of State. The objective is to make sure that lawyers do not earn €10,000 a day working out what he has just told us. If it is a help to have the matter defined in the law then I shall see what we can do on the next day. I shall not press my amendment at this point.

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

Sean Barrett: I move amendment No. 13: In page 10, between lines 35 and 36, to insert the following:“(9) The Irish Auditing and Accounting Supervisory Authority shall report annually to the Oireachtas on oversight and compliance in the audit sector and shall be empowered to report more frequently. The Authority shall have the power to suspend and disbar auditors and accountants in breach of its...

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

Sean Barrett: I move amendment No. 14: In page 10, between lines 35 and 36, to insert the following:"(9) The costs and fines incurred by the Irish Auditing and Accounting Supervisory Authority as a result of a legal action by a counter-party as a result of the inadequate application of quality assurance standards or not-fit-for-purpose standards shall be aggregated and levied on bodies subject to the Irish...

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

Sean Barrett: The problem is that people who were not party to the legal actions have been bearing the cost. We have all borne the costs because of the incompetence of accountants. The taxpayer is seen by lawyers as an easy mark. In my sector, if a lecturer or teacher did something wrong, it would be a much better mark to say he or she was acting on behalf of his or her college or an even better mark...

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

Sean Barrett: I have a query on section 7. The Minister of State, Deputy Lynch, said that some countries' auditing standards are deemed not to be the equivalent of those in the European Union. We will let that go given our earlier conversation but included in the list was New Zealand. It struck me as strange that New Zealand would be classified as a country whose accountancy and auditing standards were...

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

Sean Barrett: I am not asking for an answer now but in view of what the Minister has heard, and in particular the remarks of the Leader, would he indicate if stricter penalties are required? I put that forward as a proposition because it would be the view of the House that the Minister might wish to consider that. I am not tabling an amendment but given what the Leader said and what was said by others in...

Seanad: Order of Business (20 Nov 2013)

Sean Barrett: I welcome the Leader's decision in regard to the taking of the Companies (Miscellaneous Provisions) Bill. It would have been a shame to have to debate it tomorrow given the number of unanswered questions from last night. I warmly welcome the Leader's intervention during that debate. Today it was announced that J.P. Morgan has agreed to pay out a record €13 billion settlement after...

Seanad: Order of Business (20 Nov 2013)

Sean Barrett: That also arises in respect of Senator Crown's Bill on smoking. This House was not abolished; it is still here. This raises questions about the general unwillingness of the higher bureaucracy in Ireland to participate in freedom of information in the widest context. Last night was a bizarre example of it. I am pleased that this has been postponed so there can be extra thought and...