I move amendment No. 72:
In page 61, subsection (2) (b), line 26, after "auditors," to insert "or, if the report concerns the affairs of an authorised member firm or an associated or related undertaking of an authorised member firm, furnish a copy thereof to the approved stock exchange of which the authorised member firm in question is a member,".
Section 62 sets out what the High Court can do when it receives from its inspector his report into the affairs of a stock exchange or member firm. Among other things, the court may, if it thinks fit, give the report to the stock exchange or member firm dealt with in the report.
I consider it appropriate that a report of an investigation into a member firm should in principle also be available to the stock exchange of which the member firm is a member. The exchange will obviously have an interest in the conduct of its member firm's affairs. This amendment accordingly ensures that the court can supply it to the exchange in such a case. The decision whether to do so will be a matter for the court. Due to the provision of section 64 (5), this amendment will also mean that the Central Bank will have a similar power in relation to a bank appointed inspector.