Results 841-860 of 1,279 for speaker:Michael Ahern
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: It will be taken out of the District Court's hands altogether under the new legislation.
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: Such cases will not have to go to court. The Office of the Director of Corporate Enforcement and the Competition Authority will be able to seize the goods and retain them for as long as necessary, pending prosecution.
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: I am sure this is already in the legislation, but we will check this out to ensure that goods may not be held on to ad infinitum.
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: We will check this out to ensure it is already provided for. If it is not, we will see that this is amended.
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: This is to substitute an increased maximum fine. The original intention was that the maximum would be â¬50,000 and not â¬5,000, as it appears in the Bill. I commend the amendment to the House.
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: My briefing states that section 68 amends section 26 of the Prices Act 1958 to increase the maximum penalties, on conviction, under the prices Acts. It goes on to state the maximum penalty for a summary conviction is from â¬127 to â¬3,000. For a conviction on indictment, the penalty is increased from â¬635 to â¬50,000.
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: I presume that is outlined in the Prices Act 1958.
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: As I mentioned earlier, and this has been confirmed to me, the offences are outlined in the original legislation. In effect, we are just increasing the level of fines.
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: Senators will be aware that the Restrictive Prices (Groceries) Order 1987 was one of the issues considered by the consumer strategy group and was the subject of recent deliberations before the Joint Committee on Enterprise and Small Business, as to the merits or otherwise of the order in managing grocery prices. In any event, all arguments as regards the groceries order will be considered by...
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: We have had a very useful debate in this House for the past week on this technical and complicated Bill and I appreciate the input of Senators to the debate. Part 2 introduces a new contract fund structure, called the common contractual fund, or CCF. A CCF is a contractual arrangement established under a deed which provides that the investors participate as co-owners of the assets of the...
- Seanad: Competitiveness and Consumer Protection Policy: Statements (Resumed). (26 Apr 2005)
Michael Ahern: I thank Senators Terry, Cox and Hanafin for their contributions this evening. I also thank the other Senators who spoke earlier in this debate. I am glad the Seanad has given time to and focused attention on important subjects like competitiveness and consumer protection. We need to increase our understanding of the various factors which contribute to competitiveness, which is a broad...
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: I said on Second Stage that we would propose some amendments to the Industrial and Provident Societies Acts in connection with financial limits on co-operative societies. Under the Industrial and Provident Societies Acts of 1893 to 1978, there are statutory limits on the maximum amount a member of a society may have by way of interest in the shares of a society and on the amounts that may be...
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: Co-operative societies and credit unions, for example, are covered under the Industrial and Provident Societies Acts. The amendment will increase the value of the shares that a member of a society may have to â¬150,000 or 1% of the society's total assets. An inadvertent omission in the Credit Union Act 1997 meant that an increase in one's shareholdings, testamentary nominations or intestacy...
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: Yes.
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: Co-operative societies will be affected.
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: Section 6(2) clarifies the meaning of references to "a management company" and "a custodian". Any reference to "a management company" is construed as a reference to the person in whom the powers of management relating to property of the fund are invested. Any reference to "a custodian" relates to a person in whom such property is entrusted for safe keeping.
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: Yes.
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: Yes.
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: Under section 18 we have regulations 63, 77-85 and 98-105 already in operation under the UCITS regulations. They will now apply under the non-UCITS regulations. That is what section 18(3) does. Subsection 4 provides for the relevant provision of the UCITS regulations as applied by section 18 of this part to be jointly construed with this Bill. The set regulations already in place for UCITS...
- Seanad: Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages. (26 Apr 2005)
Michael Ahern: Yes.