Results 9,361-9,380 of 9,753 for speaker:Terry Leyden

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: We have something called parliamentary privilege and have been elected to be responsible—

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: It is my view that one should use parliamentary procedure but not abuse it.

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: Thank you for the correction, a Chathaoirligh. I meant to say parliamentary privilege. I believe I am in order in speaking on this matter because this section deals with directors.

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: Thank you for your help, a Chathaoirligh. I might compile a list of directors who appear on the boards of all the big companies. I may even ask the public to send me names. Directors flew to New York for meetings of the governors of the Bank of Ireland and went to locations such as Monaco for celebrations. However, they did not take their responsibilities seriously and this Bill will make...

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: They ignored the auditor's warning. Senator O'Toole's memory is selective.

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: Well said.

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: That is correct.

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: Fraud?

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: Acting Chairman—

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: On a point of order, as was the case when I was a Member of the Dáil, I respect the rules of the House. Any comments I made were uttered on the basis of debating the Bill. My comments related to a historical fact, namely, the massive losses of a particular company – which was warned by its auditors that problems would arise – and I make no apologies for them.

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: The Senator is being genuine in her comments.

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: When I made my comments, which were not meant to offend Senator Quinn, I did not realise there was a family relationship involved. I would not wish to offend the Senator in any sense because we go back a long way to the time when I was Minister of State with responsibility for trade and marketing. His company has been exemplary in what it has done for Irish industry and producers. His was the...

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: I accept that but is it not extraordinary that everybody here is so understanding of what happened with the directors concerned? They offered their resignations which were turned down by the same people who had appointed them. Let us live in the real world. They should have admitted they did not have their eye on the ball and resigned.

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: I am not part of the Establishment. Senator Quinn would be part of the wealthy Establishment. I am just an ordinary Senator from a rural constituency—

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: —who represents the ordinary people – councillors and public representatives who work unselfishly for others. I do not have any vested interests or directorships in companies. I am not a director of any company. I am not a shareholder in any big company other than small ones like Irish Permanent plc, in which I held a few shares at one time. Those of us in this House represent the people...

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: I am making a point about executive directors and their responsibilities. I make it by way of supporting the Minister of State in the inclusion of this provision in the Bill. Why are directors prepared to take high fees and not take responsibility or liability? That is extraordinary. All the staff of the AIB have had to work harder to pay for the fraud that occurred in the United States....

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: It is all right for everybody else to do it. Senator Quinn—

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: I am speaking to it. It is all right for everybody else to have a go at me but I cannot have a go back at anybody. I will not be silenced.

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: I will make it again because this is a kind of cover-up. We cannot talk about the AIB, even though $670 million was stolen from it, for which we are paying. Can I not say that in this House? There should have been a public inquiry into the activities of the AIB which, incidentally, was rescued by this House at the time it amalgamated with the Insurance Corporation of Ireland. It was saved...

Seanad: Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages. (29 May 2003)

Terry Leyden: It is a very interesting one. I want to clarify the position. If people in the AIB are offended, they can contact me and if they want to close my account, I will close it, although I have stayed loyal to it since I first started working in the 1960s. I will remain loyal because I respect the employees and local managers who work unselfishly for the company and are under terrible pressure...