Seanad debates

Wednesday, 28 May 2003

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

 

10:30 am

Derek McDowell (Labour)

I am genuinely confused about the relationship between sections 6 and 11. Section 6 sets out the eight designated bodies and then there is a catch-all which refers to the prescribed bodies which are basically the accountancy bodies. Section 11 sets out the composition of the board, which is two persons nominated jointly by agreement by the prescribed accountancy bodies, two persons nominated by the Minister and one each nominated by the designated bodies, which is a reference back to section 6 or to the eight bodies set out in that section. That, on the face of it, appears to add up to 12.

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