This section provides that certain information be furnished by court officers to the Registrar of Companies in a number of circumstances covered in this Part of the Bill. The matters which will be notified to the registrar are (1) where the court makes a disqualification order; (2) where the court grants relief from a disqualification order; and (3) where the court convicts a person of an offence which has the effect of providing that he be deemed to be subject to a disqualification order, or for acting while disqualified, or for acting under the directions of a disqualified person.
In addition, under the new section 130 the obligation is placed on a liquidator of a company to notify the Registrar of Companies where a court has made a declaration under the new section 129. Thus the Registrar of Companies will be in receipt of full information in regard to actions taken by the court in respect of declarations made by the court under section 129 and disqualifications and convictions under Chapters 2 and 3 of Part VII.
Section 206 of the Bill allows the registrar to compile the information he gets in any form he thinks appropriate. For example, the registrar may in due course choose to make available to members of the public an alphabetical list of company directors in Ireland and he might take the further step of highlighting in some way those on the list who have been the subject of declarations under section 129 or disqualification orders under other sections of Part VII of the Bill. Indeed, he may decide to compile a separate list of such directors.
There are a number of aspects of Deputy Rabbitte's amendment that I would take issue with. In the first place, it places a compulsion on the Registrar of Companies as to how he must maintain records. I am happy that the appropriate way forward is to leave it as I have just mentioned, relying on section 206, and I do not consider the registrar should be compelled to draw up a separate list if he considers some other method more appropriate.
In the second place, amendment No. 204 provides that records be kept of officers of all companies declared insolvent or wound up during the previous ten years and I do not consider the registrar should be compelled to draw up a separate list if he considers some other method more appropriate.
In the second place, amendment No. 204 provides that records be kept of officers of all companies declared insolvent or wound up during the previous ten years. In this regard, by virtue of amendment No. 175, new section 129, the restriction on the director will be for a period of five years. On the other hand, while an initial disqualification under section 135 will also be for a period of five years, a conviction under section 136 (3) involves a disqualification for a further ten years. Thus, ten years may or may not be appropriate time limit. In fact, I am of the view that it would be better not to have a time limit.
The Deputy will gather from this that I would not be prepared to accept his amendment. At the same time, the committee will recall that last week the Minister agreed to think further about the whole question of lists being kept by the Registrar of Companies. On this basis, perhaps, the Deputy might consider withdrawing his amendment at this stage and I will undertake to put further thought into this question before Report Stage.
