IoD Members' Update
August 2021
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Dear Member
Three important pieces of legislation have been passed by the Oireachtas recently and subsequently signed into law by President Michael D. Higgins. You can find the relevant links below to more specific information on the passing of the Climate Action and Low Carbon Development (Amendment) Bill 2021, the Gender Pay Gap Information Bill 2019, and the Companies (Rescue Process for Small and Micro Companies) Bill 2021.
It is worth noting, too, that Minister for Finance Paschal Donohoe has launched a public consultation on the OECD international tax proposals and is inviting relevant submissions by 10th September 2021 (see link below). It is expected that the definitive international negotiations on these tax proposals will recommence in the autumn.
Our exclusive and insightful webinars have proved hugely popular and we invite you to look again, or to look anew if you missed them, at our most recent recordings.
Included among them is our recent IoD Briefings Series webinar, sponsored by Accenture, featuring Derville Rowland, Director General, Financial Conduct, Central Bank of Ireland, on the topic of 'The Importance of Fitness, Probity and Ensuring Responsibility'. We note, too, the much anticipated publication last week by Minister Donohoe of the heads of the Central Bank (Individual Accountability) Bill, which follows a call by the Central Bank for a Senior Executive Accountability Regime (SEAR) to be instituted in Ireland. Once the Bill (see link below) is enacted, it is likely to be followed by a public consultation by the regulator.
We hope you are in a position to take a summer break during this traditional summer holiday period, and we wish you a pleasant rest while ‘recharging the batteries’.
Stay safe and well.
Maura Quinn
Chief Executive
Institute of Directors (IoD) in Ireland
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Director Factsheet: Briefing | A Rescue Process for Small and Micro Companies |
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McCann FitzGerald Factsheet
August 2021
Our latest Director Factsheet, from McCann FitzGerald, looks at the Companies (Rescue Process for Small and Micro Companies) Act 2021 (the “Act”) was signed into law on 22 July 2021.
The Act provides for a new administrative rescue process, exclusively available to small and micro companies.
In its 2020 'Report Advising on a Legal Structure for the Rescue of Small Companies', the Company Law Review Group recognised that one of the main barriers to Examinership for small companies is the costs involved in the Court-led process.
In that context, the Act adopts the key principles of examinership to create a new process available to small and micro companies to restructure their debts within 70 days. However, as detailed in this Factsheet, there are some important distinctions from examinership that could undermine the process.
Our sincere thanks to McCann FitzGerald for their ongoing assistance in producing the IoD Factsheets.
Please note: To read this members’ only content, you must be logged into the members' area of our website. For more Director Factsheets, please visit our website. |
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Branding: Vital for Ireland's Economic Recovery |
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This online seminar is also being held in association with The Irish Times.
Please note this Online Seminar will run from 2:00-3:30pm.
The online seminar will include a line-up of high calibre speakers, who will share their own views on how brand building is helping the financial well-being of their company as they look to the future. These include:
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Fiona Dawson, former Global President, Mars Inc.
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Gordon Lawlor, Managing Director, Circle K Ireland
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Shenda Loughnane, Group Managing Director, dentsu
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JP Scally, Chief Executive Officer, Lidl Ireland
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Moderated by Charley Stoney, CEO, IAPI
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With a welcome address by Thora Mackey, COO, IoD Ireland.
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IoD Ireland Webcasts: Catch Up Today
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As part of our ongoing commitment to share exclusive content with our members, we continue to offer recorded webcasts of our online webinars.
Our wide range of webcasts include presentations from leading figures and thought leaders, such as: Paschal Donohoe TD, Minister for Finance and Eurogroup President; Derville Rowland, Director General, Financial Conduct, Central Bank of Ireland; Tony Gaffney, Corporate Director (NED), and Founder, Lambay Group; Charlotte Valeur, Founder, Global Governance Group; Martin Shanahan, CEO, IDA Ireland; and Mark Little, CEO, Kinzen.
Our IoD Briefings Series in 2021 is sponsored by Accenture, and our Lunch Bites @ the IoD Series 2021 is sponsored by IQ-EQ.
Please note: To view this members’ only content, you must be logged into the members' area of our website. For more webcasts, please visit our website.
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Linda Mc Weeney is a Non-Executive Director, MCL Insurance Services (Ireland) Ltd, and Lecturer, Technology University (TU) Dublin.
Linda is an experienced Non-Executive Director, Chartered Accountant and lecturer with a demonstrated history of working in the financial services sector and higher education industry.
She is a Non-Executive Director for MCL Insurance Services (Ireland) Ltd, one of Ireland's leading insurance brokers, part of the MCL InsureTech group of companies, which includes online brands Its4women, BoxyMo and GetSetGo.
What qualities do you think a business leader should have to succeed in business?
Be decisive, fair, listen, learn and share. Pass on enthusiasm to others, supporting a positive work environment, motivating others to give their all. Be loyal and act with integrity.
What is the most important lesson, from your personal or business life, that has guided you the most in being a business leader?
To bring out the best in people you need to enjoy what you do, try to be the best you can be, be passionate about it and inspire others, give them the space, guidance and encouragement to thrive. Treat others as you would like to be treated.
What do you value the most from your IoD membership to date?
The regular updates on key business issues and the ability to catch up on missed events. The network of a diverse group of individuals from all sectors.
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Latest Qualified Chartered Directors Announced |
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As part of this qualification, Chartered Directors may also use the designation CDir after their name.
IoD Ireland offers its congratulations to all of our newly qualified CDirs.
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Applicants should initiate the application process by first completing and submitting an Expression of Interest Form after which you will be contacted by the Programme Director, Eileen Gleeson, to discuss your application.
Only those who have completed this process can be offered a place on upcoming cohorts (there is no obligation to take up the offer once it has been made).
The IoD Chartered Director Programme is the only Programme in the Republic of Ireland that provides the full designation and recognition as a professional Chartered Company Director (CDir).
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The IoD Blog: What if Work Wasn’t a Place? |
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As the national vaccinations programme continues to be rolled out and further public health restrictions are lifted, Michelle Fogarty, Co-founder and Chief Operating Officer of PepTalk, writes: 'As we return to normal, we need to ask was normal that great?'
Michelle adds: 'In over 20 years of working with human capital in some of the most cutting-edge companies, I have learned that the key to making any change sustainable is by focusing more on how you create a habit from the new behaviour, otherwise change will be a flash-in-the-pan. To be successful in whatever model you choose, you need to spend far more time on ‘how’ to make it work.'
Previous blogs are available on our website. If you are interested in contributing to our blog or for further information, please contact Paul O'Mahony at [email protected] or call +353 1 411 0010.
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Welcome to Some of Our New Members |
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A warm welcome to some of our newest members:
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Linda Mc Weeney, Non-Executive Director MCL Insurance Services (Ireland) Ltd and Lecturer TU Dublin
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Patrick Ryan, Founder, ājīva Ventures, Amsterdam and Dublin
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Janis Morrissey, Director of Health Promotion, Information and Training, Irish Heart Foundation
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Ronan Morris, Founder & Digital Strategist, Together Digital
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Ray Gray, Non-Executive Director
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Máire Mullarkey Byrne, Finance Director, The Royal Institute of the Architects of Ireland (RIAI)
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Policy and Announcements Hub |
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Public Consultation: OECD International Tax Proposals
The Minister for Finance, Paschal Donohoe, has launched a public consultation on the OECD international tax proposals and is inviting relevant submissions by 10th September 2021. If responding, please indicate whether you are contributing to the consultation process as a professional tax adviser, representative body, business representative, in an individual capacity or as non-governmental organisation.
Central Bank (Individual Accountability) Bill
The heads of the Central Bank (Individual Accountability) Bill 2021 have been published by the Minister for Finance, Paschal Donohoe. In June 2018, the Central Bank called for a Senior Executive Accountability Regime (SEAR) to be instituted in Ireland and the publication of the heads of this Bill moves the process further forward. Once the Bill is enacted, it is likely to be followed by a public consultation by the regulator. The Central Bank also issued a statement.
Climate Action and Low Carbon Development (Amendment) Bill 2021
The Climate Action and Low Carbon Development (Amendment) Bill 2021 has now been signed into law. Minister for the Environment, Climate and Communications, Eamon Ryan, commented: “Our immediate target of halving emissions by 2030 is challenging, but it is also an opportunity to transform our economy, create new jobs, protect our environment and build a greener and fairer future.” The Climate Action Plan 2021 will be published in early autumn.
Gender Pay Gap Information Act 2021
The Gender Pay Gap Information Bill 2019 has now been passed by both Houses of the Oireachtas and signed into law by the President Michael D. Higgins as the Gender Pay Gap Information Act 2021. According to Gov.ie, 'The Gender Pay Gap Information Act 2021 will require organisations to report on the gender pay differentials in their organisations, setting out pay differences between female and male employees. It will include bonuses.' it adds that, 'it is likely that the reporting process will begin in 2022'.
Companies (Rescue Process for Small and Micro Companies) Bill 2021
Gender Balance in Business Survey
The Central Statistics Office (CSO) has published its second Gender Balance in Business Survey. It provides 'official statistics from the CSO on gender representation in Senior Executive teams and Boards of Directors of large enterprises in Ireland. The survey was conducted in response to the Balance for Better Business initiative and it aims to provide benchmark information on gender representation'. The survey was collected by the CSO between May and June 2021. The online questionnaire asked for the gender breakdown of the Senior Executive team and Boards of Directors.
Business Futures 2021 Report
Accenture has published its Business Futures 2021 report which "aims to help leaders make sense of a new reality by identifying the signals of business change that are reshaping organisations globally and will be critically important for leaders to understand in order to drive success today and beyond."
Public Consultation: Review of the Occupations Lists for Employment Permits
The Department of Enterprise, Trade and Employment invites submissions from representative bodies, Government Departments, Agencies, and other interested parties to a public consultation to review the eligibility of occupations appearing on the Critical Skills Occupations List and the Ineligible Occupations List for employment permits. You are invited to make a submission with your observations if you feel that there are skills/labour shortages or surpluses in relation to occupations in your sector, the impact of which is adversely affecting your industry, to be received by close of business Thursday, 12 August 2021.
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The Institute of Directors in Ireland would like to offer our sincere condolences to the family and friends of Cormac McCarthy, a member of the IoD, who passed away recently. May he rest in peace. |
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Ar dheis Dé go raibh a anam. |
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How to Network Successfully in a Virtual World:
Catch-Up On the IoD Website
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Our Online Networking Event series continues to be popular with members. The sessions include a presentation from Jean Evans, Founder, NetworkMe, titled 'How to Network Successfully in a Virtual World', as well as allowing members to network in a number of break-out sessions. The series will continue in the autumn.
If you would like to revisit Jean’s presentations, or if you were unable to attend, the four presentations to date are available on the IoD website. Each presentation covers some different topics and strategies on how to successfully network. View the presentations below:
- In the June session, Jean’s presentation offered more tips and strategies to ensure successful online networking.
- In the May session, Jean’s presentation focused on providing tips and strategies to ensure successful online networking.
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In the April session, Jean explored LinkedIn content management, and how to use this to network strategically. Jean also provided tips and strategies to ensure successful online networking.
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In the March session, Jean outlined key tips on: LinkedIn, including your personal brand and profile; networking online; virtual networking etiquette; maximising online networking opportunities; and nurturing your network.
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In the February session, Jean outlined key tips on: networking online; virtual networking etiquette; maximising online networking opportunities; and nurturing your network.
Please note: To view this members’ only content, you must be logged into the members' area of our website. For more event presentations, please visit our website. |
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IoD Member Benefit: Complimentary Access to Airport Lounges
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IoD Ireland members can avail of complimentary access to airport lounges in Dublin, Cork, and Shannon, as well as 16 executive airport lounges in the UK and Europe.
Benefit Availability
This benefit is open to all IoD members.
How to Avail of the Member Benefit
The next time you are travelling for business or pleasure why not avail of this member benefit to ensure a relaxing travelling experience. To access the lounge, please note the following:
- Present your valid IoD Ireland membership card to the attendant at the Executive Lounge. Please note: the lounge will also accept a digital version of your membership card, which can be found on your member dashboard on the IoD website. Contact the membership team if you have any queries in regards to this.
- The attendant will check the name on your membership card against your boarding pass.
- The IoD Ireland membership card must not be out-of-date.
- The name on the IoD Ireland membership card must match that of the boarding pass.
- The maximum-allowed length of stay is three hours per visit.
- Members' guests are welcome to attend but must pay the general admission.
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The IoD's Boardroom Centre |
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The IoD’s Boardroom Centre is the leading independent source of non-executive directors and chairpersons in Ireland.
The Boardroom Centre provides two services: working with companies to recruit non-executives to their boards, and supporting IoD members on their non-executive journey.
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For Companies: The Boardroom Centre is a dedicated and independent service which assists client companies to source and appoint independent non-executive directors and chairpersons to their boards. Our panel of available candidates comprises some of the most experienced senior business leaders in Ireland, all of whom are members of the Institute of Directors in Ireland. We work with a company from developing the criteria for their ideal candidate through to the appointment process and remuneration guidelines.
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For Directors: The Boardroom Centre provides advice to IoD members on preparing themselves for the role of non-executive director. Members can also apply to join the Boardroom Centre’s confidential panel of available non-executive directors.
If you would like to know more about what the Boardroom Centre can do for you and/or your organisation, please visit our website or contact Thora Mackey directly.
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On the Bright Side…
Positive News in Business
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While there may be many negative business stories in the news recently, there are also plenty of positive ones. Here are just a few stories we have selected:
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IoD and Members in the News |
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UNICEF's "Get a Vaccine - Give a Vaccine" Campaign |
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UNICEF global Goodwill Ambassador, Liam Neeson, has launched a public campaign inviting people in Ireland to "Give" a vaccine when they "Get" a free vaccine from the HSE.
In recent months, UNICEF has been working with the HSE and the Department of Foreign Affairs in connection with Ireland's support for the global vaccination campaign.
UNICEF is building on its seven decades of experience as the largest vaccinator of children in the world by procuring and delivering 2 billion COVID-19 vaccines in 12 months, in partnership with the World Health Organisation.
UNICEF is asking IoD members to consider supporting the campaign by engaging with this act of solidarity, either in their own right and/or by involving staff in their organisations.
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Get the Most Out of Your Membership
with the IoD Ireland Website
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Have you reset your password and accessed the new members' area on the IoD Ireland website? If so, you will have already gained access to our exclusive member only content, such as webcasts, Director Factsheets, blogs and much more.
If you have not yet created your new login details, please follow the below steps to get the most out of your IoD Ireland membership:
Step one: browse to this IoD Ireland website page and on the left hand side of the screen in the 'Returning Members' section please press the 'Password Reset' button. Please then enter your email address to reset your password.
Step two: you will receive a ‘Password Set Request’ email. Please click on the link in this email to create your password and login to access the exclusive members’ area of the IoD Ireland website. (If you do not receive this email, please check your spam/junk email.)
If you have any queries or issues regarding the above, please contact the IoD Comms team.
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Follow our company page on LinkedIn for the latest updates. |
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Follow our latest updates at @IoDIreland and #IoDevents.
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