Harbours Act 2015
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Amendment of section 34 of Act of 1996 (membership of either House of Oireachtas, European Parliament or local authority) | ||
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42. (1) The following is substituted for section 34 of the Act of 1996: | ||
“34. (1) Where a director of a company is— | ||
(a) nominated as a member of Seanad Éireann, | ||
(b) elected as a member of either House of the Oireachtas or to the European Parliament, | ||
(c) regarded pursuant to Part XIII of the Second Schedule to the European Parliament Elections Act 1997 as having being elected to the European Parliament, or | ||
(d) elected or co-opted as a member of a local authority, | ||
he or she shall thereupon cease to be a director of the company. | ||
(2) Where a person employed by a company is— | ||
(a) nominated as a member of Seanad Éireann, or | ||
(b) elected as a member of either House of the Oireachtas or to the European Parliament, or | ||
(c) regarded pursuant to Part XIII of the Second Schedule to the European Parliament Elections Act 1997 as having being elected to the European Parliament, | ||
he or she shall thereupon stand seconded from employment by the company and shall not be paid by, or be entitled to receive from, the company any remuneration or allowances in respect of the period commencing on such nomination or election, or when he or she is so regarded as having been elected (as the case may be), and ending when he or she ceases to be a member of either such House or such Parliament. | ||
(3) A person who is for the time being— | ||
(a) entitled under the Standing Orders of either House of the Oireachtas to sit therein, | ||
(b) a member of the European Parliament, or | ||
(c) entitled under the Standing Orders of a local authority to sit as a member thereof, | ||
shall, while he or she is so entitled under paragraph (a) or (c) or is such a member under paragraph (b), be disqualified from becoming a director of a company and with regard to paragraph (a) and (b) shall be disqualified from employment in any capacity by a company. | ||
(4) Without prejudice to the generality of subsection (2), that subsection shall be construed as prohibiting the reckoning of a period therein mentioned as service with a company for the purpose of any superannuation benefits.”. | ||
(2) Nothing in the amendment effected by this section shall affect the balance of the term of office of a director of a company appointed before the passing of this Act. |