Dáil Éireann debate -
Thursday, 26 Mar 1998

Vol. 489 No. 2

Written Answers. - Ansbacher Accounts.

Eamon Gilmore

Question:

34 Mr. Gilmore asked the Tánaiste and Minister for Enterprise, Trade and Employment when she will receive the report of the officer she appointed under section 19 of the Companies Act, 1990 to investigate a number of companies arising from the Ansbacher account disclosures; if it is intended to publish the report when received; and if she will make a statement on the matter. [7579/98]

Tánaiste and Minister for Enterprise, Trade and Employment (Miss Harney)

I propose to take Questions Nos. 34 and 72 together.

Mr Gerard Ryan, the officer authorised by me in January under section 19 of the Companies Act, 1990, is continuing to examine the books and documents of Guinness and Mahon (Ireland) Ltd., Irish Intercontinental Bank Ltd., Ansbacher (Cayman) Ltd. and Hamilton Ross Company Ltd. A large amount of documentation has been made available to him in the last two months, and information relevant to his inquiries continues to be received by him. At this stage, I am not in a position to indicate when his report might be completed.

Section 21 of the Companies Act, 1990 outlines the restricted circumstances in which publication or disclosure of these reports may take place. Until I have received and studied Mr Ryan's reports and obtained legal advice on their content, I will not be in a position to indicate what action on my part will be appropriate. I will also refrain from public comment until I am in a position to make a definitive statement in the matter.

My Department estimates that the cost to its Vote of Mr Ryan's inquiries is of the order of £28,410 to date. Of this sum, £25,835 involves the salary and overhead costs of Mr Ryan and other departmental staff involved in the investigation. The balance of £2,575 relates to the cost to the Department of sourcing outside expertise to assist Mr Ryan's work.

The above figures do not take account of the cost of legal advice and legal proceedings in connection with Mr Ryan's investigations which are being borne on the Vote of the Chief State Solicitor. This has included, for instance, the cost of defending the legal challenge which was initiated in January by Irish Intercontinental Bank Limited to my appointment of Mr Ryan and which was subsequently withdrawn.