Damien English (Meath West, Fine Gael) | Oireachtas source

This group of amendments provide for the procedure for re-registration of an existing private semi-State company as a designated activity company. The purpose of these amendments is to ensure clarity in relation to existing semi-State companies. It is possible that the private company limited by shares model may not be an appropriate fit for existing semi-State companies. The legislation governing them could not have foreseen the innovation of a one document constitution that this Bill, when enacted, will provide. The schemes governing such companies are premised on them being two document companies, that is, their incorporation is governed by a memorandum and articles of association. This amendment makes it clear also that a semi-State company, under its new guise as a DAC, will be subject to the same terms of its governing legislation as it was before it re-registered. The associated grouped amendment No. 164 exempts semi-State bodies from having the terms "limited", "designated activity company" and so forth at the end of their names.