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Other Questions: OECD Programmes (9 Apr 2014)

Seán Sherlock: As has already been articulated in other answers by the Minister, Deputy Quinn, we are moving away from a rote learning framework to one which is inquiry-based and which puts the student at the centre of problem solving. Therefore a paradigm shift is going on. I cannot give the Deputy an answer regarding the cost of the digital strategy but I will revert to him with that information....

Other Questions: OECD Programmes (9 Apr 2014)

Seán Sherlock: One needs broadband provision in the first instance in order to give effect to a digital strategy. That strategy is not yet under way and work remains to be done both internally and externally. The key purpose of this is to ensure that students have a proper understanding of the dynamic involved. People in Ireland are digital natives and instinctively interface with the technology both in...

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: I move amendment No. 277:In page 1074, line 32 to delete “Part 17.” and substitute the following:“Part 17; and (c) the references in section 30 of the Multi-Unit Developments Act 2011 to section 311 or 311A of the Act of 1963 or section 12 or 12B of the Companies (Amendment) Act 1982, or to a particular provision of any such section, shall be read as references to...

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: I move amendment No. 278:In page 1074, between lines 35 and 36, to insert the following: “Provisions as to status of companies restored to register, having been struck off under former enactments12. (1) Without prejudice to any specific provision in this Act in that behalf and the subsequent provisions of this paragraph, the provisions of this Act that shall apply to a...

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: I move amendment No. 279:In page 1082, line 8, to delete “LIMITED” and substitute “COMPANY LIMITED BY GUARANTEE”.The purpose of this amendment is to correct a mistake. The example of the name of the company in the Schedule refers to "company limited by guarantee". In accordance with section 1176, the name of company limited by guarantee shall end with "company...

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: I move amendment No. 280:In page 1082, to delete lines 25 to 28 and substitute the following:“The following Regulations shall apply to the company:1. The number of members with which the company proposes to be registered is 4. [In addition to the immediately foregoing words, the following sentence may be included:-] The provisions of the Companies Act 2014 are adopted. *See section...

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: I move amendment No. 281:In page 1088, to delete lines 17 to 20 and substitute the following:“The following Regulations shall apply to the company: 1. The number of members with which the company proposes to be registered is 5. [In addition to the immediately foregoing words, the following sentence may be included:-] The provisions of the Companies Act 2014 are adopted. *See...

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: I move amendment No. 282:In page 1091, between lines 6 and 7, to insert the following: “ Remedy in case of oppression Section 213 ”.The purpose is to include section 213 and the list of provisions to be applied to unregistered companies in Schedule 14. Section 213 provides a remedy to any member of the company who complains that the affairs of the company are being conducted...

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: This has been a gargantuan task thus far. I wish to extend my gratitude and that of the Minister, Deputy Bruton, to everyone who has been involved in the process. It has been a collaborative effort. I thank the Members opposite for their role in bringing the legislation to this point. I thank the people to my right, who, to be fair to them, have done Trojan work in putting all of the...

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: Deputy Wallace is rather philosophical.

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: I move amendment No. 263:In page 985, line 16, after “signature” to insert “or of a date”.

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: I move amendment No. 264:In page 993, to delete line 20.The purpose of this amendment is to remove an incorrect reference in section 226, which governs an obligation of a director to prepare a directors' compliance statement from the investment company's tables. Section 226, with a slight modification by section 1002, applies to undertakings for collective investments in transferable...

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: I move amendment No. 265:In page 999, lines 20 and 21, to delete “a company to which section 1401 applies” and substitute “a migrating company as defined in section 1400”.The purpose of this amendment is to correct an incorrect cross-reference in subsection (9). The correct reference is to section 1400. A migrating company is defined as a body corporate which is...

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: I move amendment No. 266:In page 1002, between lines 21 and 22, to insert the following:“(6) Regulations made under section 3(3) of the Act of 1990 prescribing, for the purposes of the definition of ‘alternative body of accounting standards’ in section 260(4A) of the Act of 1990, bodies having authority to lay down standards of the kind referred to in that definition, and...

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: An amendment has not been tabled on this issue.

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: Without being pedantic, I am not sure which section would be relevant to the matter to which the Deputy refers.

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: The review is ongoing. In recognition of the fact that consultation took place on the matter, I wish to read some information into the record of the House. The accountancy profession is, in general, adaptable and agile and is able to respond to new market opportunities and directions. This is, to a great extent, because it is not tied down by layers of regulation. There are detailed...

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: The Bill has by and large been dealt with up to now on the basis of a consensual approach and I am mindful of the need to conclude our deliberations on it. I take the point the Deputy is making with regard to tabling an amendment in the Seanad. In fairness, the Minister, Deputy Bruton, committed in good faith to carry out and conclude a review by the end of the year. All parties involved...

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: I move amendment No. 267:In page 1014, to delete lines 29 and 30 and substitute the following: “1408. (1) In addition to their application to Part 11, sections 1411 to 1420 shall apply to insolvency proceedings dealt with in Part 10.”.The purpose of these amendments is to make reference to Statutory Instrument No. 333/2002 - European Communities (Corporate Insolvency)...

Companies Bill 2012: Report Stage (Resumed) and Final Stage (2 Apr 2014)

Seán Sherlock: I move amendment No. 268:In page 1015, to delete lines 9 to 14 and substitute the following: “1410. The purpose of sections 1411 to 1420 is to re-enact the European Communities (Corporate Insolvency) Regulations 2002 (S.I. No. 333 of 2002), apart from their provisions in so far as they relate to insolvency proceedings.”.

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