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Dáil Éireann debate -
Wednesday, 15 Feb 1995

Vol. 449 No. 2

Written Answers. - Scam Marketing Companies.

Mary Harney

Question:

68 Miss Harney asked the Minister for Enterprise and Employment if his attention has been drawn to recent concerns expressed to the effect that Ireland was earning a reputation as a shelf location for scam marketing companies in view of weaknesses in the law; the steps, if any, he is taking to address those shortcomings in the law and to prevent such companies operating from this country; and if he will make a statement on the matter. [3454/95]

I would refer the Deputy to a reply to a similar question on 23 June, 1994 (Volume 444 — (No. 3) Col. No. 720). As was made clear on that occasion the activities of these companies were aimed wholly or principally at consumers abroad.

Due to co-operation between the Office of the Director of Consumer Affairs, the Garda Fraud Squad and various UK authorities, four of the five companies identified have now ceased operations in Ireland. The other is no longer under suspicion.

Legislation is currently being prepared by my colleague, the Minister for Finance, to regulate the activities of investment intermediaries. In addition, I intend to implement the EU Directive on Timeshare before the end of the year.

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