asked the Minister for Industry and Commerce if his attention has been drawn to concern expressed by various interests in relation to the existing restriction on membership of the boards of companies, particularly in so far as the existing law allegedly inhibits attracting foreign enterprise and investment (details supplied); and whether he intends amending the legislation in order to facilitate those concerned.
Written Answers. - Membership of Boards of Companies.
35.
I assume the Deputy is referring to the provisions in section 376 of the Companies Act, 1963, and section 4 of the Limited Partnerships Act, 1907, limiting the number of members in a partnership to 20.
In the details supplied by the Deputy he refers to section 13, subsection (1), of the Companies (Amendment) Act, 1982, which exempts solicitors' and accountants' partnerships from this limit. I should point out that subsection (2) of that section allows me to make an order exempting certain partnerships from the restriction on membership. This provision was included, on Committee Stage in the Dáil, as a result of representations which had been received from a number of other professions. I am having this matter positively examined in my Department and, on the basis of this examination, I will decide if an order should be made.