Vol. 506 No. 5
65 Ms Fitzgerald asked the Tánaiste and Minister for Enterprise, Trade and Employment when she will bring forward legislation arising out of the McDowell report on companies' compliance with the law; and if she will make a statement on the matter. [15771/99]
78 Mr. Broughan asked the Tánaiste and Minister for Enterprise, Trade and Employment when the promised Director of Corporate Enforcement will be in place; the staff and resources which will be available to the director; and if she will make a statement on the matter. [15817/99]
91 Mrs. Owen asked the Tánaiste and Minister for Enterprise, Trade and Employment when she will bring forward legislation arising out of the McDowell report on companies' compliance with the law; and if she will make a statement on the matter. [15868/99]
I propose to take Questions Nos. 65, 78 and 91 together.
New legislation will be required before the Office of the Director of Corporate Enforcement is established. My Department is proceeding with the preparation of this legislation and my intention is that the office will be established during the first half of next year with the enabling legislation being published early in the year. A total of 30 people will be employed in the director's office comprising accountancy, legal and administrative expertise. In addition, seven members of the Garda Síochána will work with the director's office on criminal investigations and prosecutions. The net cost to the Exchequer of establishing the office will be around £2.5 million per annum. I look forward to the establishment of the office and believe that it will make an important contribution to improving overall compliance with company law in Ireland.
