asked the Minister for Industry and Commerce if he proposes to investigate the operations of a firm (name supplied) in Dublin.
Ceisteanna—Questions. Oral Answers. - Dublin Firm's Operations.
23.
The Companies Act, 1963 provides for the investigation of the affairs of a company only in certain circumstances. I have no information to suggest that such circumstances exist or that an investigation is warranted in regard to the firm in question.
Can the Parliamentary Secretary tell me whether assets or money were hived off this particular company?
As the Deputy is probably aware this firm is in liquidation on the directions of the court. Any fraudulent behaviour would, of course, come to the notice of the liquidator in the course of his investigation of the company's books. He would have it within his competence to refer the matter to the court for whatever action should be taken. In these circumstances it would not be appropriate for an investigation with which I would be concerned under the Companies Act to be carried out, given that the liquidator is in a position to do the job.
While accepting the Parliamentary Secretary's answer, I still think it is in the best interests of the company that such an investigation should take place. Despite the fact that it is now in the hands of the liquidator, I still feel that, in the interests of the people who may be affected, since they are the people who are owed money in the long term, this investigation should take place.
I can assure the Deputy that the activities of the liquidator, which are subject to the direction of the court, are being carried out to achieve precisely the objectives with which he is concerned. I am satisfied the liquidator will do the job.