This section, and many of the ensuing sections, are repeats of existing law with, in some cases, minor changes.
SECTION 324.
Question proposed: " That Section 324 stand part of the Bill ".
Could the Minister give us the reference to the existing law which this section replaces?
This section is the same as Section 245 of the 1908 Act.
Perhaps the Minister could just indicate, as we go along, if there are any changes?
It might help also if the Minister indicated the particular section which is being replaced.
I will do that. There is a reference in this new section to the Companies (Consolidation) Act, 1908, which is, of course, only now being inserted.
Now we are repealing the old Act of 1908.
Yes.
So this is a reference to a date. I think later on we refer to an interpretation of a section of that Act.
It is essential to mention the 1908 Act here.
I am not quite certain whether this point arises on this section, but I was in touch with the Minister about a matter brought to my notice about the application to the court in respect of companies which want to have the word " limited " taken from their name. It seems to me that, as drafted, the Act does not apply to existing companies. Does this section help in any way?
In fact, this interpretation section and some other sections in the Bill would have left no doubt that Section 24 to which you referred applied not only to companies registered under this new Act but also under earlier Acts, but so that the application of the section itself will be manifest to people looking at it, it is going to be suitably amplified.
I think that is very helpful. Although it does mean some repetition, I think the clearer we can make the Act the better.
What section is it proposed to amend?
Section 24.
Question put and agreed to.