Seanad debates
Thursday, 29 May 2003
Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages.
10:30 am
Joe O'Toole (Independent)
On a point of order, that is also my understanding of the rules of the House. I am concerned that, during the past 30 minutes, Members have made remarks about the largest public listed company in this State at a turbulent time in the international markets. The House should dissociate itself from any views that the directors of that company – in whom I have the fullest confidence – should be held responsible further than what has previously been the case.
The type of remarks to which I refer can be potentially dangerous for a company, but I accept that this was not the intention from the other side of the House. These types of remarks could be misreported in a financial commentary and could cause problems for the companies involved. The directors in those cases should not in any way be tainted by comments we have made here in the course of argument about other issues. The chief executive and the chair of AIB have acted to the best of their abilities in discharging their duties and responsibilities.
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