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

Dara Calleary: I agree with the Minister of State. I am sure it will be done in time. It is a policy to lob this amendment into all Bills at the last minute. This Bill should have been written as Gaeilge as it was going along so that translation is not a major administrative burden. I am willing to accept the Minister of State's good faith, but every time such an amendment comes in I will object to it.

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

Dara Calleary: Before we put down the gavel I want to be certain we have the ability to table amendments on Report Stage around the term "accountant". The Minister will lead us but I want to be certain there will be no procedural issue. We flagged it yesterday and I want to flag it again. We need further consultation with the Minister on this and my party will bring forward amendments on Report Stage.

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

Dara Calleary: Good.

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

Dara Calleary: Tá mé go mór i gcoinne an section seo. Caithfimid bheith dáiríre faoin teanga. Some people use Irish as their primary language. This issue used to arise with legislation at the justice committee. The Department knows that when it is drafting a Bill, there is a legislative requirement that it be published in tandem in Irish. One assumes one has drafted the...

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

Dara Calleary: Surely specific protections that are in place under section 1351 are in place under the other provisions.

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

Dara Calleary: Could we not just rephrase the section to reference the protections available in other legislation rather than just deleting the protections entirely?

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

Dara Calleary: I have a general query on market abuse. Does existing or new law apply, bearing in mind how this area has evolved in recent years in particular?

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

Dara Calleary: Does the Central Bank have any new powers over investment companies? Has there been any reflection on the powers of the Central Bank vis-à-vis investment companies?

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

Dara Calleary: A company might be re-registered as a plc if the company delivers certain documents to the registrar including copies of the balance sheet of the company. All the information that is required is based specifically on the balance sheet. Would it not be more beneficial to base it on all the financial statements so that things could not be hidden and that the registrar could make a full...

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

Dara Calleary: The Companies (Amendment) Act would tend to go with financial statements but things are different from how they were in 1983 in general.

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

Dara Calleary: It will probably be dealt with in the baby Bill.

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

Dara Calleary: Is the intention that section 1296 would not apply or does the point relate to a subsection?

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

Dara Calleary: Why?

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

Dara Calleary: I support Deputy Wallace, as there is no doubt that large companies have the resources and capacity to hide much information, no matter how much is made available. The Deputy has cited cases in the construction sphere and I am not sure about the cost argument, given the capacity for electronic filing of information. Do we have figures on the actual cost or burden of work? There is a...

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

Dara Calleary: In fairness, we are not talking about every unlimited company but rather the range of unlimited companies that have limited companies as members. They are seen as unlimited companies but underneath, there are limited companies.

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

Dara Calleary: Will the Minister of State outline the background to amendment No. 124?

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

Dara Calleary: At the conclusion of these proceedings, preferably some time this week, I ask that members be provided with a list of all the proposals made by the Minister of State yesterday and today on what will be included. This is to ensure they know in advance what to anticipate as there have been quite a number of such proposals.

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

Dara Calleary: In advance of that briefing session, it would be useful to have the list as the Minister of State has given it.

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

Dara Calleary: This is a lengthy amendment. Will the Minister of State give the backdrop to it?

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

Dara Calleary: You were on a roll.

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