Results 5,161-5,180 of 8,445 for speaker:Alice-Mary Higgins
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: I move amendment No. 6: In page 6, line 19, to delete “or more than 25 per cent of the” and substitute “or more than 10 per cent of the”.
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: I move amendment No. 7: In page 7, line 25, after “2005” to insert the following: “or its international equivalent for individuals without a PPS number such as a passport number or national identity card number or national insurance number”.
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: This amendment deals with issues relating to the use of PPS numbers and so forth. I separated it out because it is a slightly different point to the one we were making about corporate bodies and how they are addressed in the Bill. Many of the internationally based individuals, non-resident individuals who are beneficial owners may not have a PPS number. In order to ensure such beneficial...
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: My concern is not just that the PPS number is the only identifier mentioned but that, in fact, it is quite a narrow definition of PPS number in the Bill, in that it is the PPS number within the meaning of section 262 of the Social Welfare Consolidation Act 2005. We are talking about Irish PPS numbers and that is what is specified in the Bill. I recognise there is reference to the...
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: I move amendment No. 8: In page 9, to delete lines 7 to 39, and in page 10, to delete lines 1 to 11.
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: Section 7 gives rise to one of my most fundamental concerns in respect of the Bill. I will be pressing this amendment to a vote in opposing the section but I am also proposing a number of other amendments to extract some of the more egregious elements of the section. On Committee Stage, no strong rationale was put forward for the section besides the question of what is a change and a shift...
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: What is the case for that?
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: What time is the debate due to conclude?
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: I am very concerned because I thought we were setting up new vehicles. The Bill was to set up investment limited partnerships, as the Minister of State said, and the limitation of liabilities between sub-funds under an umbrella structure. If the nub of this legislation is not accountability for beneficial owners but the expansion of what the Minister of State calls a "white list" into a set...
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: I move amendment No. 9: In page 9, to delete lines 16 to 33.
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: I move amendment No. 10: In page 9, to delete lines 36 to 39, and in page 10, to delete lines 1 to 11.
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: I move amendment No. 11: In page 10, lines 9 to 11, to delete all words from and including “(irrespective” in line 9 down to and including “occurs)” in line 11.
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: I second the amendment.
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: I will speak briefly as Senator Ruane has covered the arguments extensively. As I said, I second these amendments. The fundamental point is that we are the Legislature and we are putting in place the framework under which these funds will operate. Indeed, extraordinary provisions have been made in this Bill to allow particular activities to take place that would not normally take place,...
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: I second the amendment.
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: I move amendment No. 14: In page 16, lines 24 to 26, to delete all words from and including “calculated” in line 24 down to and including “made” in line 26.
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: Amendments Nos. 14 to 16, inclusive, address the fact that the way a majority of limited partners is calculated under this Bill is not by a simple vote of all limited partners but according to a majority shareholding, that is, who has the largest amount of shares. Again, this comes to the question of invisible control. My concern is that one may have a single limited partner who has 51% of...
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: I know. Can the Minister of State clarify if someone controls 25% of the vote is he or she a beneficial partner?
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: I see a clash. The Minister of State has said again that it is an advisory capacity and so forth. Again, the legislation explicitly says, "consenting or refusing to consent to, any action proposed by the general partner" - that is not advice - "on behalf of the investment limited partnership and exercising any powers or authorities" as a board member. We need to be clear. The Minister of...
- Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)
Alice-Mary Higgins: I move amendment No. 15: In page 16, between lines 26 and 27, to insert the following: “(2A) Where a single limited partner holds a majority shareholding a simple vote of limited partner shareholders shall be constituted as majority.”.