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Seanad: Matters on the Adjournment: Schools Building Projects Status (30 Sep 2014)

Damien English: I am taking this matter on behalf of my colleague, the Minister for Education and Skills, Deputy Jan O'Sullivan. I thank the Senator for raising this matter as it provides me with the opportunity to clarify the current position on the major capital project for Gaelscoil Philip BarĂșn, Tramore, County Waterford. The Senator will be aware of the demographic challenge facing the education...

Seanad: Matters on the Adjournment: Schools Building Projects Status (30 Sep 2014)

Damien English: I can update the Senator now. We are involved in a budgetary process now and will be next year. The decision was correctly taken to put together a capital envelope for schools for 2012-16. If it is any help to the Senator, that is progressing quite well. It is ahead of target and provides good value for taxpayers' money. The Minister for Education and Skills is very keen to have...

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: This amendment incorporates section 8 of the Companies (Miscellaneous Provisions) Act 2013 into the Bill. As a result of this amendment, all of the company law related provisions of the 2013 Act have been consolidated into this Bill, and when it is passed, the 2013 Act can be repealed. The amendment empowers the Minister to make provision with regard to third country audit and entities on...

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: This is a technical amendment. The reference to a paragraph is incorrect.

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: The purpose of this amendment is to update the legislative references. SI 396 of 1992, the European Communities (Consolidated Supervision of Credit Institutions) Regulations 1992 have been revoked by SI 475 of 2009, the European Communities (Credit Institutions) (Consolidated Supervision) Regulations 2009.

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: This amendment updates the reference to the European Union (Capital Requirements) Regulations 2014, SI 158 of 2014. It has revoked SI 267 of 1996, the Supervision of Credit Institutions, Stock Exchange Member Firms and Investment Business Firms Regulations 1996.

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: I thank the Senators for their valued contributions to the debate on the Companies Bill 2012. I welcome the general expressions of support for the Bill and I am glad that it has passed all Stages. I was not present for the initial debate on Committee and Report Stages but I know that Members raised many issues and engaged with the process. I thank them for their hard work. There were many...

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: I thank the Members - Senators Mullins, Higgins, White and Cullinane - for their kind comments. Members are correct. It is good to get the job done, but it has been a pleasure to work on this Bill and to be involved in the Committee Stage debate during its deliberation by the Committee on Jobs, Enterprise and Innovation because we were able to see it progress through the committee, the...

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: This amendment clarifies that section 1236 is subject to section 1246 which provides for the transitional rule for an existing unlimited company with regard to its name.

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: The purpose of this amendment is to modify the manner in which section 94, which governs transfer of shares and debentures, applies to any unlimited company that has share capital.

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: These are technical amendments that update the relevant directive references from the 1968 directive to the recast directive on public disclosure of certain companies' information.

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: The purpose of this amendment is to ensure a society registered under the Industrial and Provident Societies Acts may also avail of this provision. The purpose of this section is to provide for an unregistered company to register as any of the company types, that is, a private limited company, unlimited company and so forth, provided for under this Bill. The amendment maintains the existing...

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: The purpose of this amendment is to revert to the position in existing law and disapply section 225 for Part 24 companies. It was never intended that investment companies would have to comply with the directors' compliance statement requirement. Investment companies are subject to additional regulation from the financial sector in relation to compliance. Investment companies often use...

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: The purpose of these amendments is to update the references to the provisions of the alternative investment fund managers directive regulations which have been altered in 2013. AIFMD refers collectively to the alternative investment fund managers directive, Directive 2011/61/EU, and Commission Delegated Regulation (EU) No. 231/2013. Directive 2011/61/EU was transposed into Irish law under...

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: The purpose of this amendment is to clarify that the Comptroller and Auditor General is entitled to carry out statutory audits of companies not trading for gain. It also clarifies that the Comptroller and Auditor General is entitled to carry out audits of statutory financial statements of any company not trading for gain in which he is appointed, under an enactment, the auditor of that company.

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: This is an insertion of missing words. The reference out to be to what is legally understood to be a body of accountants, not merely any body.

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: The purpose of these amendments is to ensure the existing law in relation to public auditors is maintained. The proposed amendment relates to the prohibition on connected persons acting as auditor of a society, at present covered by section 187(3)(a) to (f) and (4)(a) to (d) of the 1990 Act. The amendment also exempts the Comptroller and Auditor General from the section. A connected person...

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: The amendment was taken with amendment No. 162.

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: My apologies. The amendment is grouped with amendment No. 166. Amendment No. 163 imports section 8 of the Companies Miscellaneous Provisions Act 2013 into the Bill. As a result of this amendment, all the company law related provisions of the 2013 Act have been-----

Seanad: Companies Bill 2012: Report and Final Stages (30 Sep 2014)

Damien English: Yes. When I spoke to amendment No. 162, I covered amendment No. 163. Did I not group the two amendments together?

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