Peter Barry
Question:44 Mr. Barry asked the Minister for Industry and Commerce if he has received complaints about a company (details supplied); if he has investigated these complaints; and whether he proposes to take any action in the matter.
Written Answers. - Affairs of Company.
I can confirm that a request was received to have the affairs of the company in question examined and that this request is under consideration.
I should like to explain, as a general matter, that I do not see the resolution of difficulties which arise in the operation of individual companies as primarily a matter for me as Minister. Rather, the Companies Acts provide a statutory framework within which parties, like the present applicant, can seek to have their difficulties resolved.
In this regard, section 205 of the Companies Act, 1963 provides that a member of a company, who complains that the affairs of the company are being conducted in a manner oppressive to him, may apply to the courts for an order designed to remedy that state of affairs.
Alternatively, section 7 of the Companies Act, 1990, which will become operational on 1 July 1991, provides that a court may appoint inspectors to investigate the affairs of a company on the application of any one of a number of parties specified in the section.
I expect to be in a position to respond directly to the applicant shortly.