Jim O'Keeffe (Cork South West, Fine Gael)
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Question 190: To ask the Tánaiste and Minister for Enterprise, Trade and Employment the position regarding the proposed Companies (Transitional Accounting Standards) Bill designed to permit merger accounting for companies here; the broad proposals to be included in this Bill; and the prospective timeframe for its enactment. [36949/09]

Mary Coughlan (Donegal South West, Fianna Fail)
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I assume the Deputy is referring to the Companies (Miscellaneous Provisions) Bill 2009. The Bill provides for, inter alia, the use of US Generally Accepted Accounting Principles (US GAAP) in the preparation of the accounts of a specified category of companies for a limited period of time. Approval was given by Government for the drafting of this Bill on 13th October, 2009. The text of the Bill is subject to Government approval and will be considered by them in due course.