This deals with the index and you can keep the index in any way you like, so long as it is an operative index.
SECTION 117.
Question proposed : " That Section 117 stand part of the Bill ".
That is what it amounts to.
The index must be so arranged——
The register itself can be its own index, if it is an alphabetical register.
So long as an account of any member can be found in it.
I take it that an alphabetical register will fulfil that condition.
It probably will.
It is to be kept in the same place as the register of members, which brings me back to Section 116. Is subsection (7) of that section new?
Yes, it is new.
It is a new provision then that the Registrar has to get notice of where the index is kept. I am sorry. He has not, but he has to get notice of where the register is kept and the index must be in the same place.
Is it practicable to require that the register be kept in a certain place all the time? Is it not possible that a company might hold its annual general meeting in the Shelbourne Hotel and might have to consider bringing the register there?
That point was raised in another connection. The register will probably be brought to the annual general meeting.
It depends on what you mean by " kept ".
The Institute of Chartered Accountants have mentioned this point in a memorandum to the Department. It is being considered and I think we could leave it like that at the moment.
There is one other question relating to the register of members. Particulars in it are to be kept as at (a), (b), (c).
To what section is the Deputy referring ?
To Section 116. You ran over it a bit fast for me. That section is the same as the existing law. It places no additional obligations on a company to ascertain particulars of members.
It does not. It is substantially the same as the existing law.
Is the situation not best covered by providing, as you do provide in Section 119, that you can inspect when the register is closed and that the register must be kept in the place you specify unless it is closed ? Would that not cover us? During the period of closure it can be taken somewhere else ?
Obviously, yes.
It is provided in Section 116 that it should be kept on the premises notified to the Registrar except during the period it is closed for inspection?
Yes.
You can bring it to the general meeting if you are having the general meeting in a different place. The modern practice in relation to companies is that the company itself does not keep the register. It gets one of the auditors or somebody to keep it, but the auditor always brings the register to the annual general meeting. So long as you did it in that way, you would cover the situation completely.
In regard to the section dealing with the names and addresses and particulars of members of a company to be kept by the company, I take it that as heretofore there is no change in that? It is the particulars as known to the company? It does not put any onus on the company to follow the devolution of shares, for instance ?
Yes.
As noted in their own offices ?
Yes. Subject to Deputy Sweetman's suggestion, we are agreed on Section 116.
Question put and agreed to.
Section 118 agreed to.