Seán Sherlock (Cork East, Labour) | Oireachtas source

Amendment No. 1 provides that a company is to be treated as a small company if it qualified as a small company for the most recent financial year ended before the application for examinership. Under section 8 of the Companies (Amendment) Act 1986 a company qualifies as a small company if it meets the qualifying conditions in respect of a financial year. In the Bill, as initiated, the subsection did not reflect that and referred instead to "at the time of the presentation of the petition". There was no reference to a financial year.