Results 9,641-9,660 of 13,254 for speaker:Seán Sherlock

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: On section 1318, the position is unchanged from existing law. Section 1327 is substantially unchanged from existing law. However, the definition of "joint stock company" is taken from existing law. Some of the wording in the existing definition has been modified slightly. With regard to section 1328, the position is substantially unchanged from existing law. Modification has taken place...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I move amendment No. 148: In page 1007, line 8, after “to” to insert “in”.This section is new. It provides a saver for existing regulations made under section 46 of the Investment Funds, Companies and Miscellaneous Provisions Act 2005. It expands upon paragraph 5 of Schedule 6 to the Bill, which provides that the Prospectus (Directive 2003/71/EC) Regulations, SI...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: This section is an artefact of the law of prospectuses as it stood before the prospectus directive and the markets in financial instruments directive, known as MiFID. An appropriate level of protection is achieved by these directives and various other aspects of EU law, and as a result this provision is redundant. We are proposing the deletion of the section.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: By virtue of the directives under EU law.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: If they are already incorporated into EU law, they are inherent. I have an open mind. They are already in the regulations. Sections 1338 to 1355, concerning public offers of securities, provides the statutory basis for regulations transposing the prospectus directive, 2003/71/EC. These provisions are taken from Part 5 of the Investment Funds, Companies and Miscellaneous Provisions Act...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I am considering an amendment to section 1385 on Report Stage to correct the cross-reference in subsection 9.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I am considering the introduction of an amendment to section 1248 on Report Stage to provide more accurate cross-referencing and to include a cross-reference to sections 1084 to 1086.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: Again, I am considering introducing an amendment to section 1251 on Report Stage to clarify that admission of new members to a PULC is subject to the approval of the directors or as otherwise provided by the company's constitution.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I am considering introducing an amendment to section 1282 on Report Stage to correct an incorrect cross-reference.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I remind the committee that the section is substantially unchanged from existing law. It is drawn from section 9 of the Companies (Amendment) Act 1983.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: The matter to which Deputy Calleary refers has been referred to the Company Law Review Group. It will be taken in that context.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: Again, we are considering introducing an amendment to section 1293 on Report Stage. The purpose of the amendment is to make provision for the transposition of Article 1 of directive 2012/17/EU subsections (1) and (2) which concern the interconnectedness of registers between EEA states.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I move amendment No. 147: In page 975, line 30, to delete "subsection (9)" and substitute "subsection (10)".This is a technical amendment to resolve an inaccuracy in the Bill. It is proposed that this section shall not apply to a company that is a credit or financial institution.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: It is proposed that this section shall not apply to a company that is a credit or financial institution.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: We are considering introducing an amendment to Part 22 on Report Stage to clarify the position regarding contracts of employment of directors.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: Under section 216(9)(c), every company is obliged to allow any person to inspect its members' register on the payment of a fee, which must be €10 or less. Section 216(12)(c) obliges companies to send a copies of their members' registers to any person who requests it, again for a fee of €10 or less. This register contains the names and addresses of members and the number of...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: There is no problem returning to this on Report Stage for further deliberations, but we must acknowledge that unlimited companies function within the Irish infrastructure, serving many legitimate business purposes. They are a feature of company law across the European Union. Issues have been raised with regard to transparency, and perhaps we can provide more clarity in that respect for the...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: The issue mentioned by Deputy Wallace is due to be addressed in the coming months and I am sure the Deputy is aware that an accounting directive, 2013/34/EU, is to be introduced. It could be a more suitable way of addressing that issue. That is a potential resource for the committee. The matter could be addressed on Report Stage in order to provide greater clarity. The primary aim of...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: That is a given.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (Resumed) (6 Nov 2013)

Seán Sherlock: I move amendment No. 131: In page 926, lines 19 and 20, to delete all words from and including “(1) Sections” in line 19 down to and including “members.” in line 20 and substitute the following:“(1) Without prejudice to subsections (4) to (6) (which contain transitional provisions),sections 348 and 349 shall not apply to a CLG if it satisfies the following...