Seanad debates

Wednesday, 12 April 2017

Companies (Accounting) Bill 2016: Committee Stage

 

10:30 am

Photo of Colm BurkeColm Burke (Fine Gael) | Oireachtas source

I accept what Senator Reilly said. The reason it affects the pharmaceutical industry so much is due to the fact that it needs a particular licence for every product it sells in each jurisdiction. That is the problem. However, if one is producing equipment and is selling it to another country, one does not need a licence in the same way. I have no difficulty with an agreed amendment, whereby my colleague would withdraw this amendment and an amendment would be made to this Bill rather than leave it for other legislation. I accept Senator Reilly's suggestion on this matter, but it is important that it is not left to drag on. We are consistently being lobbied on the matter and we can deal with it now. Perhaps an amendment agreed by all sides can be drafted that will facilitate the concern of the pharmaceutical industry. It is a serious concern and it is important that it is resolved at an early stage, rather than leaving it to be dragged into another legislative measure at a later stage. I accept that the exemptions are in place until 2021, but let us clear the desk now rather than allow it to drag on for another 12 months.

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