The report, almost in its final form, has been before the joint Committee previously and we have had ample time to consider it. For various reasons, this report took much too long to come back before our Committee. I should like now to make a point I made in the sub-committee. This is our first report on Irish ministerial regulations and we should make it clear that we are not exercising our full statutory power to recommend annulment of such ministerial regulations. We are recommending that they be examined with a view to their amendment on the lines we suggest, and, in particular, that the amendment of the ultra vires rule should be done by primary legislation amending section 8 of the Companies Act, 1963. We must, I think, learn from this particular example of a report on certain ministerial regulations that the Committee must be able to function more rapidly. We are only just in time to exercise our function in relation to these regulations because they are almost a year in force. We have, therefore, barely come within the statutory time-limit and the relevance of the Committee will, I think, depend on the speed with which it can consider domestic regulations and report on those it chooses to report on within a relevant time-span. It is also vital that we are able to comment on the draft proposals coming from the European Community level in a time-span that is relevant. It is disappointing to see how long it has taken us to get this particular draft report into final form. I have certainly no further quibble with the text of it but I would point to it as an indication that this Committee has not yet got off to a proper working basis.
Consideration of Draft Report by Oireachtas Sub-Committee on European Communities (Companies) Regulations, 1973.
We have not been in existence for very long. We have not had a year, in fact, in which to do it.
Senator Robinson is correct in directly drawing attention to a fact that is of some significance, namely, that we are not recommending that this particular regulation be annulled. We might within our competence do that and I agree it is important that we should indicate we are not going the full distance and recommending that the regulation be annulled. As the report states, we are asking for an examination of the regulation and its implications. It is also important to realise that this report, as happened with the report on regional policy, has been produced entirely from our own resources. Had we not had the advantage of having some expert company lawyers among our members we would not have been able to produce the report. Does anyone wish to comment on the actual contents? Senator Robinson has pointed out that we have had the report for a considerable time and that we went through it thoroughly.
The Chairman has stated our difficulties and the part we have played. I wish to put on record our thanks to the Incorporated Law Society who were most helpful and co-operative and, as far as I can see, agreed in principle with most of what is contained in this report. They had an opportunity of hearing our views in broad outline concerning matters that caused us to raise certain questions about the present statutory instrument. It is all to the good that the various sections of the community should take an active interest in the workings of this Committee because it is for the benefit of the House and, ultimately, for the country, that the best talents and sources of information be obtained.
I agree with the Chairman and Senator Robinson. We have had certain difficulties but fortuitously we have had certain in-built information and experience in the Committee to deal with matters which came up for consideration in reference to these company regulations. Had it not been for that, possibly we would have had to let the matter go by default. This underlines the fact that we must have technical assistance to deal with technical problems. As Senator Robinson said, very often you come to a point where you are given only a certain length of time to make submissions. If we do not alert the Houses of the Oireachtas in time they may be too late.
I should like to agree fully with the suggestion of tendering thanks to the Incorporated Law Society. May I take it the draft report is adopted? If so, it will be laid before the Houses of the Oireachtas.
Paragraphs 1 to 3, inclusive, agreed to.
Draft Report adopted.