Nevertheless, Nolan is of the opinion that the pension funds of most Irish plcs are adequately provided for.
The published accounts of Irish plcs are a mixed bag.
But Macdonald, the newest and at 40 one of the youngest CEOs among Scottish plcs , is no slouch.
There is a real pressure on public companies - the plcs - to keep the City sweet.
Managers and large shareholders of other Irish plcs considering management or leveraged buyouts must be watching events with great interest.
Another eight to 10 Scottish plcs will be taken over in packaging, ports and transportation, retail and broadcasting.
He will specialise in offering a debt and equity restructuring service for UK plcs .
The bill requires the establishment of an audit committee in all plcs and large private companies, made up effectively of non executive directors.
Most insurers, plcs and mutuals alike, are sitting on large heaps known as orphan assets or free estates.
If it succeeds, others may try to follow, and the exodus of talented management out of plcs into private equity might be slowed.