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10.4
The
In July, the Financial Secretary asked the Standing Committee
for our views on certain aspects of the existing legislation and we
decided that it would be appropriate to start our review of the whole
subject of insider dealing mentioned in our Report for 1984.
Inspectors' reports on the investigations into the Carrian Group and
the Eda Group were still not available to us but we decided that, as
there was no reliable estimate as to when they would become available
and as the subject of insider dealing had been attracting increasing
attention, we should start our consideration of the subject without
the benefit of the reports.
10.5
We have considered voluminous material on insider dealing
at our subsequent meetings during 1986, except at our November meeting
when we considered and approved the draft Bill implementing our
recommendations made at the end of December 1985 regarding
disclosure of beneficial ownership of shareholdings in listed
companies
a subject which is closely related to insider dealing.
We have not yet reached a decision on what recommendations we should
make but hope to do so early in 1987.
11.
Insolvency Law and Practice
The Insolvency Acts 1985 & 86
11.1
The Standing Committee's Report for 1984 mentioned at
paragraph 5.1 that the Committee had considered two aspects of The Cork
Report on Insolvency Law & Practice, namely, Wrongful Trading and The
Ten Per Cent Fund. It was also noted that the Registrar General in
his capacity as Official Receiver was considering the proposals in the
Report regarding Administration Orders. It was stated that further
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