|
|
|
|
IMEACHTA AN CHOISTE.THE PROCEEDINGS OF THE COMMITTEE.Dé Máirt, 2 Aibreán, 1963.Tuesday, 2nd April, 1963.1. The Committee met at 7.30 p.m. 2. Members Present. The following members were present:— The Minister for Industry and Commerce, Deputies Booth, Byrne, Carter, de Valera, K. P. Egan, Gallagher and Norton. 3. Election of Temporary Chairman. Motion made (Deputy Gallagher): “That Deputy Booth be the temporary Chairman of the Committee”. Question put and agreed to. Deputy Booth took the Chair accordingly. 4. Consideration of Bill. The Committee resumed consideration of the Bill. (i) Section 192. Amendment proposed (Minister for Industry and Commerce): “In subsection (1), page 113, to delete lines 17 to 22 and substitute: ‘(a) the amount of any loans made during the company’s financial year to— (i) any director of the company; (ii) any person who, after the making of the loan, became during that year a director of the company; and (iii) any body corporate in which the directors of the company (or any of them) are beneficially entitled to more than 20 per cent. in nominal value of the shares of such body corporate which carry voting rights other than voting rights which arise only in specified circumstances.”’ Amendment agreed to. Amendment proposed (Minister for Industry and Commerce): “In subsection (1), paragraph (b), to delete ‘or person’ and substitute ‘, person or body corporate’.” Amendment agreed to. Section, as amended, agreed to. (ii) Section 193. Amendment proposed (Minister for Industry and Commerce): “In subsection (1) after ‘company’ where it secondly appears in line 5, to insert ‘as soon as may be’.” Amendment agreed to. Section, as amended, agreed to. (iii) Section 194 agreed to. (iv) Section 195. Amendment proposed (Minister for Industry and Commerce): “To delete subsection (3) and substitute the following: ‘(3) It shall not be necessary for the said register to contain particulars of directorships held by a director in bodies corporate of which the company is the wholly-owned subsidiary or which are the wholly-owned subsidiaries either of the company or of another body corporate of which the company is the wholly-owned subsidiary and for the purposes of this subsection a body corporate shall be deemed to be the wholly-owned subsidiary of another if it has no members except that other and that other’s wholly-owned subsidiaries and its or their nominees.”’ Amendment agreed to. Section, as amended, agreed to. (v) Sections 196 to 200 inclusive, agreed to. (vi) Section 201. Amendment proposed (Minister for Industry and Commerce): “In subsection (1), page 118, line 27, to delete ‘in a summary way’.” Amendment agreed to. Section, as amended, agreed to. (vii) Sections 202 to 209 inclusive agreed to. (viii) Section 210. Amendment proposed (Minister for Industry and Commerce): “In subsection (2), page 125, line 43, to delete ‘and’ and substitute ‘or otherwise’.” Amendment agreed to. Section, as amended, agreed to. (ix) Sections 211 to 231 inclusive, agreed to. (x) Section 232. Amendment proposed (Minister for Industry and Commerce): “In subsection (1), line 35, to delete ‘the liquidator shall summon’ and to substitute ‘the liquidator shall if the court by order so directs summon a meeting of the creditors of the company or’.” Amendment agreed to. Section, as amended, agreed to. (xi) Sections 233 to 244 inclusive, agreed to. (xii) Section 245. Amendment proposed (Deputy Byrne): “To delete subsection (4) and substitute the following subsection: ‘(4) A person who is examined under this section shall not be entitled to refuse to answer any question put to him save on the ground that his answer might incriminate him. Such person may be represented at the hearing by a solicitor and counsel, and counsel retained by him shall be entitled to examine him on any matters which, in the opinion of the court, are relevant and necessary for the purposes of explaining the conduct of the person being examined.”’ Amendment, by leave, withdrawn. Section agreed to. (xiii) Sections 246 to 279 inclusive, agreed to. (xiv) Section 280. Amendment proposed (Minister for Industry and Commerce): “In subsection (4) to delete ‘subsection (4)’ and substitute ‘subsection (3)’.” Amendment agreed to. Section, as amended, agreed to. (xv) Sections 281, 282 and 283 agreed to. (xvi) Section 284. Amendment proposed (Minister for Industry and Commerce): “To add the following subsections: ‘(2) Section 331 of the Irish Bankrupt and Insolvent Act, 1857, shall apply in the winding up of an insolvent company and accordingly the reference in that section to the filing of the petition shall be read as a reference to the presentation of a petition for the winding up of the company by the court or the passing of a resolution for voluntary winding up, as the case may be, and where, before the presentation of a petition for the winding up of the company by the court, a resolution has been passed by the company for voluntary winding up, shall be read as a reference to the passing of the resolution. (3) Subsection (2) shall not apply to a judgment mortgage created before the operative date.”’ Amendment agreed to. Section, as amended, agreed to. (xvii) Section 285. Amendment proposed (Minister for Industry and Commerce): “To delete subsections (3) and (4).” Amendment agreed to. Amendment proposed (Minister for Industry and Commerce): “To delete subsection (14).” Amendment agreed to. Section, as amended, agreed to. Further consideration of the Bill adjourned. 5. Athlá. The Committee adjourned at 9.40 p.m. until 4 p.m. on Tuesday, 9th April, 1963. |
||||||||||||
|
|||||||||||||
