Committee Reports::Report - Companies Bill, 1962::15 January, 1963::Proceedings of the Joint Committee

IMEACHTA AN CHOISTE.

THE PROCEEDINGS OF THE COMMITTEE.

Dé Máirt, 15 Eanáir, 1963.

Tuesday, 15th January, 1963.

1. Chruinnigh an Coiste ar 2.30 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 Cosgair, D. Ua Coisdealbha, de Valera, Ó Gallchobhair, Ó Neachtain, Mac Páidín agus Suatman.


3. Cathaoirleach Sealadach a Thoghadh.


Rinneadh tairiscint (AntAire Tionscail agus Tráchtála):


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


Cuireadh agus aontaíodh an Cheist.


Chuaigh an Teachta Ó Gallcobhair i gCeannas dá réir sin.


4. Breithniú an Bhille.


D’athchrom an Coiste ar an mBille a bhreithniú.


(i) Aontaíodh alt 31.


(ii) Alt 32.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“In subsection (1) to delete ‘subsections (2), (3) and (4)’ and substitute ‘the provisions of this section’.”


Aontaíodh an leasú.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“In subsection (3) to delete all words from ‘but, subject to subsection (2)’ to the end of the subsection.”


Aontaíodh an leasú.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“Before subsection (4) to insert a new subsection as follows:


‘( ) This section shall not prevent a company which at the date on which it becomes a subsidiary of another company is a member of that other company, from continuing to be a member.”’


Aontaíodh an leasú.


Tairgeadh leasú (An tAire Tionscail agus Trachtálá):


“In subsection (4) to delete ‘on the 5th day of May, 1959, was’ and insert ‘is’.”


Aontaíodh an leasú.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“Before subsection (5) to insert a new subsection as follows:


‘( ) Subject to subsection (2), a subsidiary which is a member of its holding company shall have no right to vote at meetings of the holding company or any class of members thereof.”’


Aontaíodh an leasú.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“To delete subsection (5) and substitute:


‘( ) Subject to subsection (2), this section shall apply in relation to a nominee for a body corporate which is a subsidiary, as if references therein to such a body corporate included references to a nominee for it.”’


Aontaíodh an leasú.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“Before subsection (6) to insert a new subsection as follows:


‘( ) Where a holding company makes an offer of shares to its members it may sell, on behalf of a subsidiary, any such shares which the subsidiary could, but for this section, have taken by virtue of shares already held by it in the holding company, and pay the proceeds of sale to the subsidiary.”


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(iii) Aontaíodh ailt 33 agus 34.


(iv) Alt 35.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“In subsection (5), paragraph (b), to delete ‘3’ and substitute ‘6’.”


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(v) Aontaíodh ailt 36 go 41 go huile.


(vi) Alt 42.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“To delete subsection (2).”


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(vii) Aontaíodh ailt 43 go 49 go huile.


(viii) Alt 50.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“In subsection (1), paragraph (b), to delete ‘3’ and substitute ‘6’.”


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(ix) Aontaiodh ailt 51, 52 agus 53.


(x) Alt 54.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“In subsection (5), paragraph (b) to delete ‘3’ and substitute ‘6’.”


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(xi) Alt 55.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“Before subsection (2) to insert a new subsection as follows:


‘( ) Where an allotment is avoided under this section the company shall within one month thereafter deliver to the registrar of companies for registration a notice to that effect, and subsections (3) and (4) of section 58 shall apply in relation to this subsection as they apply in relation to that section.”’


Aontaíodh an leasú.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“In subsection (2), page 45, line 34, to delete ‘sections’ and substitute ‘sections 53 and 54’.”


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(xii) Alt 56.


Tairgeadh leasú (An Teachta Suatman):


“In subsection (1), line 43, delete ‘third’ and substitute ‘eighth’.”


Tarraingíodh siar an leasú, faoi chead.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“To delete subsection (5) and substitute:


‘( ) An application for shares in or debentures of a company which is made in pursuance of a prospectus issued generally shall be irrevocable until after the expiration of 7 days after the day on which the prospectus is first so issued or the giving before the expiration of the said 7 days, by some person responsible under section 49 for the prospectus, of a public notice having the effect under that section of excluding or limiting the responsibility of the person giving it.”’


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(xiii) Alt 57.


Tairgeadh leasú (An tAire Tionscail agus Tráchtála):


“In subsection (5), paragraph (b), page 47, line 1, after ‘shares’ to insert ‘or debentures’.”


Aontaíodh an leasú.


Aontaíodh an t-alt, mar a leasaíodh.


(xiv) Aontaíodh ailt 58 agus 59.


Cuireadh breithniú breise ar an mBille ar athló.


5. Athlá.


Chuaigh an Coiste ar athló ar 5 p.m. go dtí 8 p.m. Dé Máirt, 22 Eanáir, 1963.