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

Seán Sherlock: Yes.

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

Seán Sherlock: I cannot give Deputy Lawlor a definitive answer but it is normally between three and six months.

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

Seán Sherlock: If Deputy Lawlor articulates a specific concern about the timeframe to us we will be happy to deal with it again at the briefing to be held before Report Stage and we will revert to the Deputy. We can give him assistance if he is concerned about an 18 month period.

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

Seán Sherlock: The maximum period is 18 months but it can be done straight away. Let us remember that the provision addresses the "restoration of companies that are stuck off and dissolved prior to the enactment of the Bill or during the transition period and to deal with the restoration of companies after the end of the transition period." That lasts for up to 18 months or so but a company could move...

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

Seán Sherlock: I understand that the committee hearings may have dealt with the matter but perhaps they have not. I ask the Chairman to clarify the matter. The business community sought a certain transition period.

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

Seán Sherlock: Exactly.

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

Seán Sherlock: Yes.

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

Seán Sherlock: Yes.

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

Seán Sherlock: Yes.

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 732 on Report Stage to extend the time limit on the Revenue Commissioner's right to object to a company being struck off.

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

Seán Sherlock: The current time limit is six months.

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

Seán Sherlock: It has increased from six months now but it was 30 days in the Bill and the amendment will push it to three months.

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

Seán Sherlock: It has increased from six to three months.

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

Seán Sherlock: The Bill stated 30 days so one could argue that it will split the difference with Revenue.

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

Seán Sherlock: I know that the Deputy is not being pedantic by posing his question. As he will know, in the case of any Bill consultations take place with a number of stakeholders. There may be a departmental view, there will be a CRO view and there may even be a Revenue on the matter. The original figure is six months but, following consultation with various stakeholders, it was felt that a figure of...

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

Seán Sherlock: At the moment it is six months.

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

Seán Sherlock: The Bill suggested 30 days.

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 594 on Report Stage to remove the mandatory requirement for the secretary to sign the statement of affairs. This is as per the previous amendment.

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 607 on Report Stage to provide that an execution of a judgment mortgage shall be deemed to be completed upon the registration of the judgment mortgage.

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 618 on Report Stage to reflect the payment of stamp duty as a necessary expense to be incurred in the winding up process.

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