I move:
That Seanad Éireann:
(1) notes the agreed Report of the Joint Committee on Justice and Equality under Standing Order 107 on the Proposal for a Directive of the European Parliament and of the Council on preventive restructuring frameworks, second chance and measures to increase the efficiency of restructuring, insolvency and discharge procedures and amending Directive 2012/30/EU - COM(2016)723 which was laid before Seanad Éireann on 16 February 2017 in accordance with Standing Order 107(3)(b);
(2) having regard to the aforementioned Report, and in exercise of its functions under section 7(3) of the European Union Act 2009, is of the opinion that the Proposal for a Directive of the European Parliament and of the Council on preventive restructuring frameworks, second chance and measures to increase the efficiency of restructuring, insolvency and discharge procedures and amending Directive 2012/30/EU - COM(2016)723 do not comply with the principle of subsidiarity for the reasons set out in paragraph 3 of the Report, and
(3) notes that, pursuant to Standing Order 107(3)(d), a copy of this Resolution together with the reasoned opinion and the aforementioned Report shall be sent to the Presidents of the European Parliament, the Council and the Commission.