Seán Sherlock (Cork East, Labour) | Oireachtas source

The purpose of this amendment is to provide an exception from the prohibition that neither a body that is not a company nor an individual shall carry on any trade, profession or business under a name which includes as its last part the word "limited" or the words "company limited by shares" for industrial and provident societies, as initiated.

Only volume 1 companies are permitted to end their name with "Limited". This amendment is necessary to provide for the approximately 900 industrial and provident societies in existence which have the word "Limited" in their name. I am also considering introducing an amendment on Report Stage to provide that the provisions of this section will not apply to an external company.