Dáil Éireann debate -
Thursday, 20 Apr 2000

Vol. 518 No. 5

Written Answers. - Ansbacher Accounts.

Brendan Howlin

Question:

19 Mr. Howlin asked the Tánaiste and Minister for Enterprise, Trade and Employment the total costs incurred by the State, at the latest date for which figures are available, arising from the various inquiries instigated by or on behalf of her Department; the element of these costs which have been recovered from a bank (details supplied) and if she will make a statement on the matter. [11959/00]

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

The total costs incurred on recent company investigations initiated by or on behalf of my Department currently amount to approximately £2.84 million. This amount does not include the salary costs of civil service staff who are working on a number of these investigations. Similarly, the major proportion of the legal costs relating to the investigations are being borne by the Vote of the Chief State Solicitor.

Of this amount, the cost of the inquiries into National Irish Bank Limited and National Irish Bank Financial Services Limited which are being undertaken by High Court inspectors under section 8 of the Companies Act, 1990, currently stands atcirca £2 million. None of this has yet been recovered from the two companies. Section 13 of the 1990 Act provides that the cost of a section 8 inquiry shall be defrayed in the first instance by the Minister for Justice, Equality and Law Reform. However, the court may direct that any person being, inter alia, a company dealt with in an inspector's report, shall be liable to repay the Minister the costs incurred to such extent as the High Court directs. As I have previously indicated, it is my intention to request the High Court to require the full recoupment from the companies concerned of the significant costs of these inquiries on their completion.