Committee Reports::Report - Companies Bill, 1962::02 April, 1963::Proceedings of the Joint Committee

IMEACHTA AN CHOISTE.

THE PROCEEDINGS OF THE COMMITTEE.

Dé Máirt, 2 Aibreán, 1963.

Tuesday, 2nd April, 1963.

1. Chruinnigh an Coiste ar 7.30 p.m.


2. Comhaltaí i Láthair.


Bhí na comhaltaí seo a leanas i láthair:—


An tAire Tionscail agus Tráchtála, na Teachtaí Booth, Ó Broin, Mac Artúir, de Valera, C. Mac Aodhagáin, Ó Gallchobhair agus Ó Neachtain.


3. Cathaoirleach Sealadach a Thoghadh.


Rinneadh tairiscint (An Teachta Ó Gallchobhair):


“That Deputy Booth be the temporary Chairman of the Committee”.


Cuireadh agus aontaíodh an Cheist.


Chuaigh an Teachta Booth i gCeannas dá réir sin.


4. Breithniú an Bhille.


D’athchrom an Coiste ar an mBille a bhreithniú.


(i) Alt 192.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“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.”’


Aontaíodh an leasú.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“In subsection (1), paragraph (b), to delete ‘or person’ and substitute ‘, person or body corporate’.”


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(ii) Alt 193.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“In subsection (1) after ‘company’ where it secondly appears in line 5, to insert ‘as soon as may be’.”


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(iii) Aontaíodh alt 194.


(iv) Alt 195.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“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.”’


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(v) Aontaíodh ailt 196 go 200 go huile.


(vi) Alt 201.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“In subsection (1), page 118, line 27, to delete ‘in a summary way’.”


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(vii) Aontaíodh ailt 202 go 209 go huile.


(viii) Alt 210.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“In subsection (2), page 125, line 43, to delete ‘and’ and substitute ‘or otherwise’.”


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(ix) Aontaíodh ailt 211 go 231 go huile.


(x) Alt 232.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“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’.”


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(xi) Aontaíodh ailt 233 go 244 go huile.


(xii) Alt 245.


Tairgeadh leasú (An Teachta Ó Broin):


“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.”’


Tarraingíodh siar an leasú, faoi chead.


Aontaíodh an t-alt.


(xiii) Aontaíodh ailt 246 go 279 go huile.


(xiv) Alt 280.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“In subsection (4) to delete ‘subsection (4)’ and substitute ‘subsection (3)’.”


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(xv) Aontaíodh ailt 281,282 agus 283.


(xvi) Alt 284.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“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.”’


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(xvii) Alt 285.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“To delete subsections (3) and (4).”


Aontaíodh an leasú.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“To delete subsection (14).”


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


Cuireadh breithniú breise ar an mBille ar athló.


5. athlá.


Chuaigh an Coiste ar athló ar 9.40 p.m. go dtí 4 p.m. Dé Máirt, 9 Aibreán, 1963.