Terry Leyden (Fianna Fail)

I welcome the Minister of State and thank him for his detailed analysis of the Bill. Like the Opposition, we have received many submissions on it. I could summarise them very fast by saying the main concern is the level of turnover at which the appointment of an auditor is required. The Companies (Amendment)(No. 2) Act 1999 puts the level at €317,000. When it comes to the drafting of amendments, the Minister of State should bear in mind the points made by the Opposition spokesperson, Senator Coghlan, and I and ensure we have a level playing field. We should raise the threshold of turnover to about €1.5 million.