Results 9,921-9,940 of 13,254 for speaker:Seán Sherlock
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: I move amendment No. 60: In page 243, to delete lines 25 and 26 and substitute the following:"(h) in addition to the duty under section 225 (duty to have regard to the interests of its employees in general), have regard to the interests of its members.".
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: The purpose of this amendment is clarificatory in nature. The current text refers to the directors having a duty to have regard to the interests of members in addition to the general duty owed to employees under section 225. However, section 225 does not impose such a duty on directors to their employees. Section 225 provides that the matters to which the directors are to have regard in...
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: I beg the Chair's indulgence, but can the Deputy please explain that again?
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: We can look at that again on Report Stage for Deputy Calleary.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: Such documents are already in circulation and are available free from the Office of the Director of Corporate Enforcement's website. The Companies Registration Office already sends these documents to directors of newly formed companies. However, because most companies are formed by company formation's businesses, the documents generally do not get to the directors at all. More important...
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: When people sign up as directors they have obligations. As I said earlier, more important in this respect, is that people applying to be registered as directors must acknowledge that they understand and accept their responsibilities as directors when completing form A1 or form B10. Therefore, that obligation is already there.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: Notwithstanding the fact that the Deputy has been brushing up on his neo-Marxist economic theory - it sounds vaguely familiar from my college days - this question was dealt with comprehensively by the Company Law Review Group, CLRG, in its 2005 report on directors' compliance statements. If members will pardon my use of acronyms, the CLRG decided that such extra duties would do little to...
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: I beg the Chairman's indulgence. To a certain extent, I understand the motive behind the amendment, but one must factor into the equation a corpus of environmental, health and safety and employment law. The issue of negative or positive externalities does not arise. We must ensure that there is robust legislation. Every citizen is subject to the existing corpus of law and companies are...
- 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 understand the Deputy's proposal. I am advised that his suggestion is part of the law as it stands and that, therefore, no amendment is required. Under section 18 of the Interpretation Act, a person includes a body corporate. This is why the definition is not explained specifically in this section. It has been upheld in the High Court in Fyffes plc v DCC plc & ors, IEHC 477, and...
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: The courts effectively agree with the view proffered by the Deputy. The law is sufficient as it stands.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: Under existing law, directors are required to have regard to the interests of employees. This amendment would change it to a duty to employees. This may mean that members and employees would have a directly enforceable right against directors where they act contrary to their respective interests. This would compromise the fundamental structure of the directors' relationship with the...
- 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 162 on Report Stage. The purpose of this amendment is to clarify subsection (1) as it relates to subcommittees of the board.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: I move amendment No. 39: In page 201, line 17, after "notice" to insert ", in the prescribed form,".
- 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 174 on Report Stage to remove two cross-referencing errors that relate to section 170.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: I move amendment No. 40: In page 202, to delete lines 21 and 22 and substitute the following:"supplementing the operation of the company’s constitution in relation to the calling, holding and conducting of the meeting.".
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: I move amendment No. 41: In page 204, line 39, after "company" to insert ", which member would be entitled to vote at such a meeting".
- 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 181 on Report Stage to remove the requirement that the deceased member, but for his or her death, would be entitled to vote.
- 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 182 on Report Stage to clarify the requirements in respect of notice provision.
- Select Committee on Jobs, Enterprise and Innovation: Companies Bill 2012: Committee Stage (5 Nov 2013)
Seán Sherlock: I move amendment No. 42: In page 207, line 6, to delete "If" and substitute "Save to the extent that the company's constitution provides otherwise, if".