Lynn Ruane (Independent) | Oireachtas source

I move recommendation No. 6:

In page 45, between lines 30 and 31, to insert the following:"(iv) for which there may be no shared ownership, or control, in the State or internationally, between the qualifying company and the recipient of any interest or other distribution payable.".

This recommendation draws on the work of Deputy Donnelly during the Report Stage debate on the Bill in the Dáil. It attempts to break any potential shared ownership between a vulture fund in Ireland and a loan that it receives. As internal loans can be used to move the profits of vulture funds offshore, it is important for us to ensure financial manoeuvring does not allow internal loans to look like independent loans even though they are all actually owned by the same parent company. I will not press this amendment today, as I intend to resubmit it on Report Stage, but I would like to get a response from the Minister of State.