Seanad debates

Wednesday, 16 April 2003

Companies (Auditing and Accounting) Bill 2003: Second Stage.

 

Let me deal with the example of Scotland, where there will be delight at this legislation because the Scots will tell every multinational thinking of investing in Ireland that it will have to find two non-executive directors who are Irish, who have not worked in the company in the past five years, who are going to have to sign a compliance statement which says a company is guilty unless it proves itself innocent each year. It is unbelievable that we are thinking of doing something like this. It is just not foreseeable that this could happen on that basis.

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