Seanad debates
Wednesday, 20 May 2009
Companies (Amendment) Bill 2009: Committee Stage
Joe O'Toole (Independent)
I prefer Fine Gael when it is in a more exuberant mood.
I do not see myself as a Member of the Opposition, but take each issue as I find it. In this case I find myself very firmly on the side of the Government. Whereas I take the point Senator Cannon made as regards the importance of them, I certainly do not want people prohibited from diligently doing their work. Nonetheless, the words "reasonably practicable" are there, as are the courts, and nothing here prevents a person having access to them while the Director of Corporate Enforcement is dealing with them.
More often than not, as Senator Norris has pointed out, the Director of Corporate Enforcement suffers from allegations about not moving in at all, not having sufficient powers or failing to move matters onwards. I believe this is reasonable and reflects what people want. However, if it turned out that in its application, some type of obstacle or block was to appear as regards companies continuing to trade or advance their business, that would be a serious issue. Certainly, a point has been raised in that regard and perhaps there might be some method for reviewing that. My view is that the present Director of Corporate Enforcement is absolutely diligent about his responsibilities and would share a very strong concern as regards the importance of companies being able to continue trading and do their business. There is no question or doubt in my mind whatever about that. I have full confidence in him, but I agree with Senator Cannon to the effect that this cannot be dealt with on the basis of the current director's modus operandi and one does not know how any future director might do his or her business. The additional power being given to the director is important and I support that section as it stands. However, I should like to be reassured that the issues raised by Senator Cannon would not arise.
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