Feargal Quinn (Independent)

The Minister explained very well why she is not accepting amendment No. 7 but the paragraph this amendment seeks to delete is very blunt: "Where a company makes default in complying with this section, the company and every person who at the time of that default is a director of the company shall be guilty of an offence." I do not know whether the explanation the Minister gave in respect of amendment No. 7 will apply to this amendment but Senator Walsh has touched on the important point that we need to encourage non-executive directors into family businesses. I know of one successful family business that wanted to bring in a non-executive director. The man was ready to join until he read through the requirements, before this Bill was introduced, and decided that because he had a family to look after he could not take a chance that he might be found guilty if the company was in default. To the best of my knowledge that company still comprises only family members.

Part of what we are attempting to do here is to encourage governance from outside the family in family businesses. I imagine that the Minister will say that exactly the same points apply in this case as applied in respect of amendment No. 7, but this is so blunt I would find it difficult to defend it.