Billy Timmins
Question:158 Mr. Timmins asked the Tánaiste and Minister for Enterprise, Trade and Employment the current status of investigations into breaches of the Companies Acts, 1963 to 1999. [26740/00]
Written Answers. - Company Investigations.
I assume the Deputy is referring to the investigations which are ongoing at present under section 19 and section 8 of the Companies Act, 1990. There are five examinations of company books and documents currently ongoing under section 19 of the Companies Act, 1990. The companies involved are Celtic Helicopters Limited, College Trustees Limited, Guinness & Mahon (Ireland) Limited, Hamilton Ross Company Limited, and Kentford Securities Limited. The work of the authorised officer is substantially complete in a number of these cases and I expect to receive final reports on a number of these companies in the coming months.
My appointment of an authorised officer to examine the books and documents of Dunnes Stores Ireland Company and Dunnes Stores (ILAC Centre) Ltd., under section 19 of the 1990 Act was the subject of a High Court judgment on 28 July 2000. On 31 October a notice of appeal was lodged with the Supreme Court seeking an order that my appointment of the authorised officer was valid and that his demand for books and documents was also valid.
Three companies are also being investigated by High Court inspectors under section 8 of the Companies Act, 1990. The companies involved are National Irish Bank Limited, National Irish Bank Financial Services Limited, and Ansbacher (Cayman) Limited. As regards the section 8 High Court inquiry into Ansbacher (Cayman) Limited I expect that it will be at least six months before this inquiry can be completed. The section 8 inquiry into National Irish Bank Ltd., and National Irish Bank Financial Services Ltd., is ongoing and I hope that the inspectors' inquiry can be concluded early in 2001. Section 8 inspectors report directly to the High Court and will report to that court in due course.