Frances Black (Independent) | Oireachtas source

This amendment would require that the Minister shall, within the two years following the commencement of this section, lay a report before both Houses of the Oireachtas detailing the following: the level of effective implementation of the designation of persons who perform a controlled function; the effectiveness of the identification and designation of persons who perform a controlled function; the potential to expand the range of functions under this designation; and the extent to which there may be persons not currently designated as persons who perform a controlled function but who exert significant influence in relation to decisions on the performance of a controlled function and how this may be reflected in any future revision of this enactment.

This amendment seeks to address a concern we have that there may be persons who are not designated as persons who perform a controlled function, but who may have significant influence on financial processes. My colleague, Senator Higgins, previously raised a similar issue on limited liability on the Investment Limited Partnerships (Amendment) Bill. Go raibh maith agat.