Seanad debates

Wednesday, 27 May 2009

Companies (Amendment) Bill 2009: Committee Stage (Resumed)

 

12:00 pm

Photo of Ciarán CannonCiarán Cannon (Progressive Democrats)

Before Senator O'Toole's contribution and after a cursory look at the amendment, I was somewhat conflicted about it. However, having heard the Senator speak, I believe he is employing a subtle and enlightened way of policing the actions of company directors. The previous amendment we dealt with is an instance of employing a machete to remove a tumour. What Senator O'Toole proposes is more subtle and skilful scalpel surgery. It suggests that this will afford company directors acting in a genuine way the protection they need from the very rare errant activity of other directors. It suggests putting in place a genuine system of monitoring the activity of all directors and allowing those who act properly to make a believable claim that they did all in their power to police the activities of their company director colleagues. I support the amendment and hope the Tánaiste will see fit to act in the same way.

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