Robert Troy (Longford-Westmeath, Fianna Fail) | Oireachtas source

On the final point made by Senators Gavan and Higgins, they know my position on the TRIPS waiver. I made it clear on the floor of the Seanad some weeks ago in response to a Commencement matter from Senator Higgins. Earlier this week, I replied in writing to Senator Gavan, who also wanted to raise this issue. I have made my views known internally to Government colleagues. I am at one with the Senators on that.

Collective bargaining is not under the remit of company law but employment law. Working with the trade union representative, ICTU, we have committed to establishing an employment law review group, similar to the company law review group, which will be there on a permanent basis continually reviewing legislation to look to how we can improve it. ICTU has signed up to the process, we have committed to doing it and that will happen in the fall of this year.

I will make a point on employees' rights under this summary rescue process. Employees are involved from an early stage in developing the rescue plan. The process adviser, it is stipulated in the legislation, must inform employees of his or her appointment and must give an opportunity to employees, as to all other creditors, to make an input and disclose information they have which may be pertinent to the restructuring plan. They will be consulted in relation to any plan put before the creditors. If they, as a bloc of creditors, feel the restructuring plan is unfair, they will have the opportunity to appeal it to the courts, as will any creditor. We have to remember other creditors are small companies and jobs are dependent on their survival. There are protections for employees but the best thing we can do for them is ensure their jobs are protected. The best way to do that is by giving small and micro companies an opportunity to restructure, get out from under a shroud of debt, start again and protect jobs.