Seanad debates
Tuesday, 26 April 2005
Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages.
3:00 pm
Michael Ahern (Cork East, Fianna Fail)
Section 30 deals with civil cases. Section 109 of the Companies Act 1990 makes provision for civil liability for unlawful dealing. The action currently before the High Court involving Fyffes and DCC is such a case. It is considered that the capability should be retained in Irish company law going forward. As it does not arise directly from a requirement in the market abuse directive, it is being included in this legislation in primary law.
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