Results 42,801-42,820 of 46,267 for speaker:Simon Harris

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...

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

Simon Harris: I move amendment No. 19:In page 83, line 5, to delete “a UCITS” and substitute “an UCITS”.This amendment rectifies a slight drafting error.

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

Simon Harris: I move amendment No. 20:In page 85, to delete lines 11 to 14 and substitute the following: “(2) The company shall then make an application to the Registrar in the form prescribed by the Minister for Jobs, Enterprise and Innovation to be de-registered as a company. (3) On receipt of an application under subsection (2) the Registrar shall issue a certificate of de-registration of the...

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

Simon Harris: I move amendment No. 21:In page 85, to delete lines 34 and 35 and substitute the following: “(5) On the registration of an investment company as an ICAV, the Bank shall immediately authorise it to carry on business. (6) On the registration of an UCITS as an ICAV, the UCITS shall continue to be authorised under the UCITS Regulations. (7) Section 889 of the Companies Act 2014 has...

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

Simon Harris: I move amendment No. 22:In page 86, line 6, to delete “letter” and substitute “giving of notice”.Amendments Nos. 22 and 23 are corrections to errors which arose on Committee Stage. The ICAV Bill 2014, as passed by the Dáil on Committee Stage, provides for varying forms of notice, not simply notice by way of letter but two references to the bank giving notice...

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

Simon Harris: I move amendment No. 23:In page 90, line 7, to delete “letter” and substitute “giving of notice”.

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

Simon Harris: I move amendment No. 24:In page 95, to delete lines 13 to 18 and substitute the following: “148. (1) The provisions of Part 8 of the Companies Act 2014, and the other provisions of that Act relating to receivers, apply, subject to the necessary modifications and to the specific modifications specified in subsection (2), in relation to an ICAV as if it were an investment company. (2)...

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

Simon Harris: The comments of both Deputies are constructive and fair. As I tried to outline in my opening remarks, there are timing issues with this Bill, with the new Companies Act and the need to cross our t's and dot our i's to ensure cross-application takes place where necessary and a "copy and paste" takes place where it would be better. Consultation with the Attorney General on that has led to a...

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...