Seanad debates

Wednesday, 20 May 2009

Companies (Amendment) Bill 2009: Committee Stage

 

Photo of David NorrisDavid Norris (Independent)

I apologise to the Minister for this small intervention but I was at the Oireachtas Joint Committee on Foreign Affairs and heard the vote. In regard to the section and the vote we just had, will the Minister outline why, for example, none of the principals in the present rather awkward financial situation has been addressed under the existing legislation dealing with reckless trading? I would have thought it perfectly obvious that directors of companies would be addressed. I have been a director of several companies.

The country is going down the Swanee but, as far as I can see, nobody has been prosecuted for reckless trading. Surely the Government should make some statement as to why, when the welfare of the country is being prejudiced, none of the principals involved has been approached over the question of reckless trading. I would have thought it would have been an obvious thing to do.

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