Results 43,541-43,560 of 46,456 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: 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...

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. 1: In page 10, between lines 9 and 10, to insert the following:“ “Community act” means an act adopted by an institution of the European Union;”.This amendment is technical and serves to define "Community act" as an act adopted by a European institution. It is necessary to facilitate the charges and debentures provisions to be added later by...

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. 2: In page 10, line 21, to delete “section 155 of the Companies Act 1963” and substitute “section 8 of the Companies Act 2014”.Amendment No. 2 is technical and reflects the fact that the Companies Bill 2012 will be enacted imminently. The cross-reference to the definition of "holding company" will, in all likelihood, be out of date by the time...

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. 3: In page 10, between lines 32 and 33, to insert the following:“ “officer”, in relation to an ICAV, includes a director or secretary;”.This is a technical amendment to clarify the meaning of "officer" to include directors and secretaries of ICAVs and to define the register of ICAVs as the register kept by the banks under section 14 which...

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. 4: In page 10, between lines 35 and 36, to insert the following:“ “register of ICAVs” means the register kept by the Bank under section 14;”.

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. 5: In page 11, line 12, to delete “section 155 of the Companies Act 1963” and substitute “section 7 of the Companies Act 2014”.

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. 6: In page 16, between lines 17 and 18, to insert the following:“(2) The Bank shall keep up-to-date the register referred to in subsection (1) so that it reflects any alterations in the instrument of incorporation, changes in the situation of the registered office or head office and changes in the persons who are directors or secretaries of the ICAV.”.I did...

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: On section 14, I wish to flag to the committee that I expect to bring forward amendments to this section on Report Stage to tidy up some oversights in the current draft. I expect to revert 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: Yes.

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 thank the Deputy for his question. I have to be clear. We are not authorising things that are not already authorised in terms of UCITS, AIFs or the likes. We are putting a new vehicle in place for them to operate. Currently, there simply is not a well-fit vehicle for them to operate in. We already have a situation where there are similar such mechanisms as we are trying to put in place...

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: Yes.

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: It will either be a UCITS or an AIF, which are two different mechanisms.