Results 9,761-9,780 of 13,254 for speaker:Seán Sherlock

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: The purpose of the amendment No. 102 is to increase the monetary limits in existing legislation to allow for inflation and the new limits are in accordance with the recommendations of the Company Law Review Group. With the Chairman's permission, I will explain the section now.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: The section has some changes when compared with the existing legislation. It deals with the declaration by the court restricting a director of an insolvent company in being appointed or acting as a director. The court will make the declaration restricting the director upon application from the Director of Corporate Enforcement, the liquidator of an insolvent company or a receiver of any...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: No.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I move amendment No. 103: In page 670, line 22, to delete “€70,000” and substitute “€100,000”.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I move amendment No. 104: In page 670, line 37, to delete “€70,000” and substitute “€100,000”.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I move amendment No. 105: In page 670, line 46, to delete “€70,000” and substitute “€100,000”.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I move amendment No. 106: In page 671, line 1, to delete “€70,000” and substitute “€100,000”.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: This is a new section which provides that a "company that has a restricted person" is one "(a) in relation to which a restricted person is appointed or acts in any way, whether directly or indirectly, as a director or secretary;" or a company "in the promotion or formation of which a restricted person is concerned or takes part".

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: This section is new and provides that "the Summary Approval Procedure" may not be utilised by "a company that has a restricted person" except in circumstances where that procedure is being used to affect a member's voluntary winding up. Furthermore, sections 241, relating to arrangements of certain value, and 246, relating to business transactions, of the Bill do not apply to a company that...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: We are considering introducing an amendment to section 829(2) on Report Stage. The purpose of this amendment will be to make reference to "member" rather than a "subscriber of the constitution". The rationale for this is to ensure that the provision applies to a person who becomes a member some time after its incorporation.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I am considering introducing an amendment to section 841 on Report Stage to provide that foreign disqualification orders made before the commencement of the Bill be declared. This is a new section to deal with a situation in which a director becomes disqualified under the law of another state. In such a case, where the company fails to notify the registrar of such a situation, as required...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: One of the questions that has arisen in relation to this section is around prosecutions of breaches of company law and whether the Bill will rectify this issue. The answer to that is that corporate offences are by their nature difficult to investigate. The fact that white collar criminals have gotten off lightly in the wake of the economic crisis should not lead to the conclusion that the...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: This section is also substantially unchanged from that provided in existing law. However, the court may make an order restraining a company or an officer of the company from removing his or her assets from the State or reducing those assets below a specified amount. This extends to the current law in that it also applies to the company and not, as provided under existing law, only to...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: This is a new section, the purpose of which is to give guidance on the meaning of the terms "disclosure order" and "share acquisition agreement" under this Part.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: Again, this is a new section, the purpose of which is to give the court a supplemental power in relation to share acquisition agreements where it has grounds to believe that all the information sought to be obtained by the disclosure order will not be so obtained by a person against whom the order is made and who is a party or former party to a share acquisition agreement. In such...

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I move amendment No. 101: In page 667, line 24, to delete "the CRO Gazette" and substitute "Iris Oifigiúil".The purpose of this amendment is to replace "the CRO Gazette" as the required method of publication with "Iris Oifigiúil".

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I will seek an answer from my officials to the Deputy's question.

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: I move amendment No. 102: In page 670, line 19, to delete "€350,000" and substitute "€500,000".

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: Does the Deputy's question pertain to these amendments?

Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)

Seán Sherlock: It is deemed that the District Court is unsuitable for this type of legislation. May I may beg the committee's indulgence to give a further explanation?