Corporate Governance (Codes of Practice) Bill 2009

Public bill · Private Member · Introduced

The proposal would require the Central Bank to draw up binding corporate-governance rules for companies listed on the Irish Stock Exchange, with approval from the Minister for Finance after consultation and review by an Oireachtas committee. The rules would cover board independence, separate chair and chief executive roles, limits on directors’ terms and board memberships, independent audit committees, and transparency in company reporting. The Stock Exchange would monitor and enforce compliance through its listing rules, replacing the mainly voluntary “comply or explain” approach. It matters because stronger oversight was intended to protect investors and the public, improve accountability, and restore confidence after company failures and financial scandals.

Formal long title

Bill entitled an Act to provide for the drawing up by the Central Bank and Financial Services Authority of Ireland and the approval by the Minister for Finance of codes of practice in relation to good corporate governance for companies admitted to trading on the official list of the Irish Stock Exchange; to provide for the enforcement of those codes; and to provide for connected matters

Last updated 12 April 2018