Seanad debates

Wednesday, 28 May 2003

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

 

10:30 am

Maurice Hayes (Independent)

I will try to be helpful and respond to some of the points of Senator O'Toole. If one subjects one's car to an MOT, which is one's responsibility, it does not mean that one will be aware of a blown tail-light bulb while one is driving. I have no difficulty with a requirement that directors should inform themselves of their duties or do a course. Some of the companies with which I have been involved have such a requirement.

I was chairman of the board of a hospital in Belfast, which was run as a company. I was required to do a course and to assure the Minister that every member of that board had been fully informed and trained in the requirements under the Cadbury rules. That is a reasonable requirement and it may be done through regulation or otherwise, but it is important that people know their responsibilities.

Comments

No comments

Log in or join to post a public comment.