Seanad debates
Tuesday, 17 June 2014
Companies Bill 2012: Committee Stage (Resumed)
9:40 pm
Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source
The purpose of this amendment is to align the Bill with existing law as section 224(6) of the Companies Act 1990 allows a subsidiary of an insurance company to hold shares in its holding company when done pursuant to section 9(1) of the Insurance Act 1990. As the Bill stands this provision is omitted and this was not intended.
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