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Niamh Smyth

๐Ÿ‘ค Speaker
43 total appearances

Appearances Over Time

Podcast Appearances

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

Good morning, Joe.

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

Thanks for having me on your show.

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

Yes, Joel, you quite rightly said there in your introduction that up until now, the CRO, when companies do their returns to the CRO, there's many facts and figures made available, but part of that is directors and secretaries, their residential address.

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

And that has been the case for many decades.

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

I suppose the idea with the consultation is

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

that the CLRG, which is also known as the Companies Law Review Group, have been tasked, they advise me and other ministers within the department about changes that we need to make with legislation.

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

And part of the recommendation that they have made is

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

this suggestion that the residential address of directors and secretaries would be removed from public view and that they would now have the option to put in a contact address as an alternative.

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

But it is important to say that while the usual residential address would be removed from public view, it would remain very much so.

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

That information would still be

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

um submitted to the cro that those details would be available and i know your sort of angle and concern around this is around fraud or that directors might be a little bit more off the hook by not having to provide those details but just to reassure you that those details would still have to be provided to the cro what is the risk of keeping the status quo what's the risk with you know keeping everything as it currently is

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

Yeah, well, at the moment, I suppose what we're trying to do and we're seeking to do and having this open to public consultation at the moment is to get the right balance, I suppose, between access to information and individual privacy considerations.

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

We do live in a very different world, Jo, and I know you're in public life, I'm in public life.

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

And really and truly, directors and secretaries, you know, it is part of it all where up until this point, public life has become a little bit more tricky in terms of personal safety for people.

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

And that is where this has really come from.

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

The Company Law Review Group is the

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

personal safety of directors and secretaries, if you're given the details of their residential home, effectively their home, their family are exposed in a very public way.

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

So it doesn't seek to, I suppose, hide away from the responsibility that comes with being a secretary or a director of a company.

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

It actually seeks to give, to strike the balance, as I said,

Breakfast Business with Joe Lynam
Does the Companies Act needs to be changed?

between having access to the really important information as how they can be contactable, because we know things happen.

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