Vol. 486 No. 1
167 Mr. Stagg asked the Tánaiste and Minister for Enterprise, Trade and Employment the number of BES applications refused from 1994 to date in 1998 under the Designated Investment Funds Act, 1985; and the current numbers on hand in this regard. [1366/98]
My sole function under the Designated Investment Funds Act, 1985 is to ensure that all prospectuses and other publicity material for individual business expansion schemes comply with section 5 of the Act and thus ensure that the investor has the maximum information possible on the fund. The taxation aspects of such schemes are a matter for the Revenue Commissioners.
Since 1994, it has not proved necessary to refuse approval for any prospectus or piece of publicity material submitted under the Act.
There is one application for approval of a prospectus awaiting attention at present.
