I beg to move the Second Reading of this Bill, which is a Bill for the Reconstitution of the Records of certain companies whose records were destroyed in the office of the Registrar of Companies. As the Minister explained last day, owing to the fire in the Custom House on the 25th May, 1921, the records of these companies have been destroyed, and it is necessary to have them reconstituted. There are statutory duties, which include the production for inspection of documents filed with the Registrar of Companies, and the giving of such documents in evidence in the courts, furnishing copies and extracts from them and giving various certificates based upon the records. The object of the Bill, in short, is to provide for the reconstitution of these records. For companies that have ceased to exist, no records are necessary in these cases, and for companies which are now in liquidation, it will not be necessary to make up a list of them. They are excluded in a sub-section of Section 1 and in Section 2. It is also unnecessary to include in the reconstitution those companies in respect of whom there are records in London with the Board of Trade. Section 3 provides that the secretary of every company to which the Act applies, shall furnish the Registrar with all information and documents necessary to reconstitute these records. I move: "That the Bill be now read a second time."
COMPANIES (RECONSTITUTION OF RECORDS) BILL, 1924—SECOND STAGE.
I would ask the President to say if there is any change in the form of the Schedule, whether any new questions have been inserted, or whether any of the questions that used to be asked have been deleted. Further, what provision is made for the public obtaining information regarding companies whose records are in London? Did the Minister say it was not necessary that such companies should be required to send in particulars required of other companies? Is it to be expected that we should get copies of these records from London, or how is the public of Ireland to get the information in regard to companies whose records ought to be here?
I take it it is possible to get records from London if and when required. I am not aware of the particular details of the measure in respect of the other questions. As far as I am aware, there has been no departure under this Bill from the regulations that were in existence. The only point in respect of which there might probably be a departure would be that under this Bill there is no provision for recoupment of costs, but the costs are inconsiderable, and I do not think any grave question would arise on that issue.
Perhaps I should say this, in reference to the companies in London. From the time the Free State was established, the companies registered in London, and not registered here, became foreign companies for the purposes of the Companies' Act, and where they are registered in London, we have, under the Adaptation of Enactments Act, 1923, made an order requiring them as foreign companies to deposit all particulars that are required from foreign companies, and that would include most of the particulars that can be required by any persons wanting information, such as the Articles of Association, and so on, and it is for that reason that certain companies are excluded. On the other hand, companies that want to be registered here as Irish companies will still be required to deposit full particulars, their Articles of Association, their Certificate of Incorporation, and all particulars of mortgage and debentures, and so on. As regards the other question that Deputy Johnson asked, I do not quite know what he was referring to. There is a very exhaustive schedule of enquiries here, and I do not know what Deputy Johnson had in mind when he asked if any particulars were omitted.
Take, for instance, particulars of share capital and so on. These were required under British law. What I want to know is, are the same requirements contained in this Schedule as were required under the British law, or was there any addition or omission?
There have been no designed omissions. As a matter of fact, it was intended to have this as complete as possible, because it was absolutely essential that the Registrar of Companies should provide all information that the public could have available on payment of a small fee. If the Deputy looks at the Schedule he will find amongst the inquiries particulars as to capital are required to be given under No. 7. I think the Schedule really covers all possible particulars.
I am really curious to know whether we can rely that those companies which originally registered in London will, under the new law, be required to deposit their records here or only some of them.
The companies the Deputy referred to will become the same as foreign or dominion companies. They will have to deposit under the Adaptation of Enactments Act all the particulars that will be required of foreign companies in London. Will that meet the Deputy's requirements?
It may answer my question but it does not meet my requirements.