Special Committee Companies Bill, 1962 debate -
Tuesday, 2 Apr 1963

SECTION 195.

Mr. J. Lynch

I move amendment No. 76 :

To delete subsection (3) and substitute the following:

"(3) It shall not be necessary for the said register to contain particulars of directorships held by a director in bodies corporate of which the company is the wholly-owned subsidiary or which are the wholly-owned subsidiaries either of the company or of another body corporate of which the company is the wholly-owned subsidiary and for the purposes of this subsection a body corporate shall be deemed to be the wholly-owned subsidiary of another if it has no members except that other and that other's wholly-owned subsidiaries and its or their nominees."

This section refers to the necessity for a company to keep a register of its directors and secretaries. The amendment proposed here is purely a drafting amendment using the words "bodies corporate" instead of "companies". It makes it consistent with paragraph (e) in subsection (2) and with later wording in subsection (3).

Major de Valera

Is the section new to some extent?

Mr. J. Lynch

It replaces Section 75 of the 1908 Act.

Mr. Norton

Is this in the 1908 Act?

Mr. J. Lynch

I should have continued. It replaces Section 75 of the 1908 Act, as amended by the Companies Act, 1917. In effect, it is largely the same as existing law.

Mr. Norton

What is the purpose of knocking out subsection (3)?

Mr. J. Lynch

All we do knock out is paragraph (a) of subsection (3), but the new wording incorporates paragraph (a) in the subsection itself. It is really a drafting amendment. Paragraph (a) is not necessary any more. In the second line of the subsection, we use " bodies corporate " instead of " companies ". Similarly in the fifth line we use " body corporate " instead of " company ".

Amendment agreed to.

Question proposed: "That Section 195, as amended, stand part of the Bill."

Major de Valera

The definition of Christian name includes a forename. What is the object of this?

Mr. J. Lynch

Christian name is the name usually applied to a person's first name. Everybody who will become a director of a company will not necessarily be a Christian.

Question put and agreed to.