Results 43,341-43,360 of 46,267 for speaker:Simon Harris

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: The provisions are effectively lifted from the Companies Bill. References to "company" are changed to "ICAV", while provisions relating to transitional arrangements in sections 419 and 420 of the 2012 Bill are omitted in this legislation because the ICAV does not currently exist and does not, therefore, require such arrangements. These amendments represent an effort to mirror the provisions...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 10: In page 55, between lines 7 and 8, to insert the following: "CHAPTER 2 Registration of charges and priorityRegistration of charges created by ICAVs88. (1) Every charge created by an ICAV shall be void against the liquidator and any creditor of the ICAV unless either the procedure set out in—(a) subsection (3) (the "one-stage procedure"), or (b) subsection (4)...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 11: In page 55, between lines 7 and 8, to insert the following:"Duty of ICAV with respect to registration under section 88* and right of others to effect registration89. (1) It shall be the duty of the ICAV that creates the charge to comply with the procedure under section 88(3)or (4)with respect to the charge's registration but this is without prejudice to subsection...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 12: In page 55, between lines 7 and 8, to insert the following:"Duty of ICAV to register charges existing on property acquired90. (1) Where an ICAV acquires any property which is subject to a charge that, if it had been created by the ICAV after the acquisition of the property, would have given rise to the duty under section 88(1) on the part of the ICAV with respect to...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 13: In page 55, between lines 7 and 8, to insert the following:"Priority of charges91. (1) Unless the priority of the charges is otherwise governed by an enactment (apart from this Act), the priority of charges created by an ICAV shall, subject to subsection (4), be determined by reference to the date of receipt by the Bank of the particulars specified by the Bank, that...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 14:In page 55, between lines 7 and 8, to insert the following:“Registration of judgment mortgages 92. (1) If judgment is recovered against an ICAV and that judgment is subsequently converted into a judgment mortgage affecting any property of the ICAV, the judgment mortgage shall be void against the liquidator and any creditor of the ICAV unless the procedure set...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 15: In page 55, between lines 7 and 8, to insert the following:"Register of charges93. (1) The Bank shall keep, in relation to each ICAV, a register of the charges requiring registration under this Part, and shall, on payment of the fee (if any) prescribed under section 32E of the Central Bank Act 1942, enter in the register, in relation to such charges, the following...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 16: In page 55, between lines 7 and 8, to insert the following:“Certificate of registration94. (1) The Bank shall give a certificate of the registration of any charge registered in pursuance of this Part. (2) Subject to subsection (3), such a certificate shall be conclusive evidence that the requirements of this Part as to the registration of the charge have been...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 17: In page 55, between lines 7 and 8, to insert the following:"Entries of satisfaction and release of property from charge95. (1) The Bank may exercise the powers under subsection (2), on evidence being given to its satisfaction with respect to any charge registered under this Part—(a) that the debt in relation to which the charge was created has been paid or...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 18: In page 55, between lines 7 and 8, to insert the following:"Extension of time for registration of charges and rectification of register96. (1) The High Court may grant the following relief where it is satisfied that the omission to register a charge within the time required by this Part or that the omission or misstatement of any particular with respect to any such...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 19: In page 55, between lines 7 and 8, to insert the following:"Copies of instruments creating charges to be kept97. (1) An ICAV shall keep a copy of every instrument creating any charge in relation to it and requiring registration under this Part, including, in the case of a judgment mortgage, a copy of the relevant judgment mortgage document that was received by the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 20: In page 55, between lines 7 and 8, to insert the following:"Netting of Financial Contracts Act 1995 not to affect registration requirements98. Nothing in section 4(1) of the Netting of Financial Contracts Act 1995 affects—(a) the requirement to register a charge under this Part, or (b) the consequences of failing to register a charge under this Part.".

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 21: In page 55, between lines 7 and 8, to insert the following: "CHAPTER 3 Provisions as to debenturesLiability of trustees for debenture holders 99. (1) Subject to the provisions of this section, the following provision shall be void, namely, any provision contained—(a) in a trust deed for securing an issue of debentures, or (b) in any contract with the holders of...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 7: In page 31, line 10, after “inspection” to insert “by a person entitled to inspect it”.Amendments Nos. 7 and 8 provide that the following persons are entitled to inspect the register of members of an Irish collective asset-management vehicle: the Central Bank, the Director of Corporate Enforcement and any statutory body which needs to...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 8: In page 31, between lines 21 and 22, to insert the following:“(6) The persons entitled to inspect the register of members of an ICAV are—(a) the Bank, (b) the Director of Corporate Enforcement, and (c) any statutory body which needs to inspect the register in order properly to exercise any of its functions.”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I may be bringing some technical amendments to this section on Report Stage.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: Again, I am seeking advice from the Office of the Parliamentary Counsel on this section and may be bringing some technical amendments to it on Report Stage.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: We are not yet certain. I want to ensure this section is robust enough. It may require an amendment to section 86 or the insertion of a new section on charges and debentures.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: This section on the convening of extraordinary general meetings mirrors the section in company law. It is unlikely we will be making a substantive change to that. I may adopt a technical amendment to define the meaning of “special resolution” in section 86(7).

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage (11 Nov 2014)

Simon Harris: I move amendment No. 9: In page 55, between lines 7 and 8, to insert the following: “PART 6 CHARGES AND DEBENTURES CHAPTER 1 InterpretationDefinitions 87. (1) In this Part—“charge”, in relation to an ICAV, means a mortgage or a charge, in an agreement (written or oral), that is created over an interest in any property of the ICAV (and in section 88(8) and sections...