Results 42,981-43,000 of 46,456 for speaker:Simon Harris

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

Simon Harris: I move amendment No. 40:In page 106, after line 38, to insert the following:“Director of Corporate Enforcement 178. Sections 953, 956 and 957 of the Companies Act 2014 have effect as if references to that Act included this Act.”.Amendment No. 40 inserts a new section 178, which cross-supplies sections 953, 956 and 957 of the Companies Act 2014. Section 953 concerns liability...

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

Simon Harris: I thank Deputies, particularly Deputy McGrath and Deputy Doherty, for their constructive engagement on this Bill. I thank my officials also who put a great deal of work into what is as we discussed on many occasions a largely technical but very important piece of legislation. It is important in terms of this country's competitiveness and trying to attract international financial investment...

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

Simon Harris: I genuinely cannot assist the Deputy in that but I will endeavour to find out and revert to him.

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...

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...