Gay Mitchell
Question:62 Mr. G. Mitchell asked the Tánaiste and Minister for Enterprise, Trade and Employment if she will consider consolidating legislation in the area of company law. [11476/01]
Written Answers - Company Law Legislation.
The project to consolidate company law is already under way. Consolidation is set overall in the context of reviewing and reforming our company law regime to make it more efficient and more straightforward, complementing our world-class economy and sustaining our competitiveness.
To progress this objective I have set up a company law review and consolidation section in my Department. This has the task of reviewing on an ongoing basis our company law regime. To assist in that review the Government is setting up a standing company law review group to bring forward on the basis of two yearly work programmes proposals for reform of company law in a structured way. The Company Law Enforcement Bill, currently on Committee Stage in the Dáil, provides for a statutory advisory role for the group. I have already set up the group on an ad hoc basis. The group, chaired by Thomas B. Courtney, secretary to the ICS Building Society, brings together expertise from the social partners, relevant Departments and agencies and the legal and accountancy professions.
The company law review group will make its first report to me at the end of the year. I will then take proposals to Government for reform of company law on the basis of the recommend ations in the report. It is intended that the Bill setting out the proposed reforms will also include pre-consolidation measures leaving the way clear for the consolidation statute proper to follow on from enactment of the review Bill.