Committee Reports::Report - Companies Bill, 1962::05 February, 1963::Proceedings of the Joint Committee

IMEACHTA AN CHOISTE.

THE PROCEEDINGS OF THE COMMITTEE.

Dé Máirt, 5 Feabhra, 1963.

Tuesday, 5th February, 1963.

1. Chruinnigh an Coiste ar 8 p.m.


2. Comhaltaí i Láthair.


Bhí na comhaltaí seo a leanas i láthair:—


An Teachta Ó Colla (sa Chathaoir), an tAire Tionscail agus Tráchtála, na Teachtaí Booth, Ó Broin, Mac Cosgair, D. Ua Coisdealbha, de Valera, Ó Gallchobhair, Mac Páidín agus Suatman.


3. Breithniú an Bhille.


D’athchrom an Coiste ar an mBille a bhreithniú.


(i) Alt 70.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“In subsection (1), page 54, line 42, to delete ‘authorising the increase’ and substitute ‘increasing its share capital’.”


Aontaíodh an leasú.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“In subsection (2), to delete all words from ‘and there shall be forwarded’ to the end of the subsection.”


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(ii) Aontaíodh alt 71.


(iii) Alt 72.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“Before subsection (1) to insert a new subsection as follows:


‘( ) Except in so far as this Act expressly permits, it shall not be lawful for a company limited by shares or a company limited by guarantee and having a share capital to purchase any of its shares or to reduce its share capital in any way.”’


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(iv) Aontaíodh ailt 73 go 79 go huile.


(v) Alt 80.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“To add a new subsection as follows:


‘( ) Where new shares are issued by a company on the terms that, within a period not exceeding 12 months, they will rank pari passu for all purposes with all the existing shares, or all the existing shares of a particular class, in the company, neither the new shares nor the corresponding existing shares need have distinguishing numbers so long as all of them are fully paid up and rank pari passu but the share certificates of the new shares shall, if not numbered, be appropriately worded or enfaced.”’


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(vi) Aontaíodh ailt 81 go 86 go huile.


(vii) Alt nua.


Tairgeadh leasú (An tAire Tíonscail agus Tráchtála):


“Before section 87 to insert a new section as follows:


‘(1) A certificate under the common seal of the company specifying any shares held by any member shall be prima facie evidence of the title of the member to the shares.


(2) The production to a company of any document which is by law sufficient evidence of probate of the will or letters of administration of the estate of a deceased person having been granted to some person shall be accepted by the company, notwithstanding anything in its articles, as sufficient evidence of the grant.”’


Cuireadh agus aontaíodh an Cheist:— “Go gcuirfear an t-alt nua isteach ansin.”


(viii) Scriosadh ailt 87 agus 88.


(ix) Aontaiodh alt 89


(x) Alt nua.


Tairgeadh leasú (An tAire Tíonscail agus Tráchtála):


“Before section 90 to insert a new section as follows:


‘If a company has created or issued shares in its capital and if there is reason to apprehend that such shares were invalidly created or issued, the court may, on the application of the company, any holder of such shares or any member or creditor, or the liquidator, of the company, declare that such creation or issue shall be valid for all purposes if the court is satisfied that it would be just and equitable to do so and thereupon such shares shall from the creation or issue thereof, as the case may be, be deemed to have been validly created or issued.”’


Cuireadh agus aontaiodh an Cheist:— “Go gcuirfear an t-alt nua isteach ansin.”


(xi) Alt 90.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“To delete lines 15 to 17 and substitute:


‘owner, he shall be liable, on conviction on indictment, to imprisonment for a term not exceeding 2 years or to a fine not exceeding £500 or to both, or, on summary conviction, to imprisonment for a term not exceeding 6 months or to a fine not exceeding £100 or to both.”’


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(xii) Aontaíodh ailt 91 go 98 go huile.


Cuireadh breithniú breise ar an mBille ar athló.


4. Athlá.


Chuaigh an Coiste ar athló ar 10 p.m.