Paul Coghlan (Fine Gael)

As the Minister of State has said, the Bill is largely technical, but necessary because of the new directives dealing with takeovers, transparency and related matters. The most important element of the Bill is how it deals with competitiveness to put us on a level playing pitch. Once the British Government had decided to increase the audit threshold, I considered it was important that we were not at a disadvantage with regard to our neighbouring jurisdiction in the northern part of the island. The Minister of State was of the same view as he took this aspect on board when we first mentioned it.

I welcome the audit limit exemption increase to €7.3 million, which is an important factor. I urge the Minister of State to continue to hold an interested watch on such matters. I look forward to coming back to deal with the Bill again if amendments are made in the Dáil.

I thank the Minister of State and his officials with regard to what has been achieved.