asked the Minister for Industry and Commerce whether his attention has been called to the report of the liquidator of the Industrial Trust Company of Ireland, Ltd., now in liquidation; whether he is aware that the comments of the liquidator seem to imply that the existing law relating to the promotion and conduct of joint stock companies is not adequate for the purpose of protecting the interest of the ordinary citizen who desires to acquire stock in these concerns and whether it is his intention to amend the law so as to safeguard the public against abuses of their confidences by the promoters or directors of joint stock companies.
Ceisteanna—Questions. Oral Answers. - The Industrial Trust Company of Ireland.
I have seen the report referred to, but I cannot accept the inferences which the Deputy has drawn from that report.
Does the Minister, therefore, desire to continue the unsatisfactory system which, in this instance, had such catastrophic results for the shareholders?
The answer is in the negative.