Paul Coghlan (Fine Gael)

I move amendment No. 11:

In page 52, to delete lines 13 to 19 and substitute the following:

"(a) Irish Companies Acts, and

(b) Irish tax law;".

We are dealing with section 43 and the infamous compliance statement, which is really paving new ground. Without repeating all the arguments made yesterday, this amendment aims to simplify the obligations being laid down. Compliance statements should be confined to large companies and corporations. We have no business imposing this measure on small, family-owned businesses. I will not be laborious because, given that we discussed them at great length yesterday, the Minister of State is as aware of the arguments as are Members. He will address this matter either today or in the Lower House, but the limit should be set at a much higher level than the audit exemption threshold.