Derek McDowell (Labour)

On face value, one would be inclined to say, "Maybe so." Although I do not have any evidence, I suspect that in smaller companies and family business the board, as such, works less effectively in that there may not be many meetings, the directors do not ask any questions or, in the case of a family company, are likely to be members of the same family and simply do not ask questions. I am not sure that by limiting it to larger companies, it would have the desired effect.

Senator Maurice Hayes made a point about whether we should exclude non-profit companies or charities. I am a director of only one company – one of the partnership companies, obviously a non-profit one. However, it employs 25 people and uses a lot of money, almost all of which is State money. Should there be an obligation on me, as a public representative, as on other directors to ask those questions? There probably should be, notwithstanding the fact that it is not a profiting making company.

Let us face it, some of the financial practices of charities would not bear much scrutiny. It is perhaps no harm—