Vol. 547 No. 1
102 Mrs. Owen asked the Tánaiste and Minister for Enterprise, Trade and Employment the number of summary prosecutions which were undertaken by her in 2000 and 2001; and the number of convictions which resulted pursuant to the Companies Acts, 1963 to 2001. [1391/02]
In 2000, 19 companies, 14 directors and two auditors were prosecuted by me for various offences under the Companies Acts which resulted in 45 convictions.
In 2001, six companies, seven directors and two auditors were prosecuted by me for various offences under the Companies Acts which resulted in 32 convictions.
103 Mrs. Owen asked the Tánaiste and Minister for Enterprise, Trade and Employment the number of investigations under company law which are being carried out; when each investigation commenced; if she has received interim reports; if so, if they were published; and when each investigation will be completed. [1392/02]
Since 28 November 2001, responsibility for the investigation of company law offences rests with the Director of Corporate Enforcement. There are eight investigations under company law being undertaken on foot of earlier action by me.
Five preliminary investigations are continuing under section 19 of the Companies Act, 1990. The companies concerned are Celtic Helicopters Limited – commenced 9 September 1997 – College Trustees Limited – commenced 10 March 1999 – Guinness & Mahon (Ireland) Limited – commenced 8 January 1998 – Hamilton Ross Co. Limited – commenced 23 January 1998 – and Kentford Securities Limited – commenced 9 June 1998. Reports in respect of two of these investigations are at a very advanced stage with the remaining three reports expected to be completed during the course of 2002. The Companies Acts specifically provide that I may not publish the result of these investigations without the prior consent in writing of the body which has been subject to examination under section 19.
Section 8 of the Companies Act, 1990, provides that the High Court may appoint one or more inspectors to investigate the affairs of a company on the application of the Minister for Enterprise, Trade and Employment. Three investigations are ongoing on foot of applications by me to the High Court. The companies involved are National Irish Bank Limited – NIB, commenced 30 March 1998 – National Irish Bank Financial Services Limited – NIBFS, commenced 15 June 1998 – and Ansbacher (Cayman) Limited – commenced 22 September 1999.
The most recent interim report on the NIB/NIBFS investigation was submitted to the High Court on 7 December 2001. No interim reports have been submitted to the High Court in respect of the Ansbacher investigation. It is my understanding that these interim reports have not been published by the court. I am not in a position to say when the Ansbacher and the NIB/NIBFS investigations will be completed.
Section 11 of the Companies Act, 1990, provides for the disposition of reports by inspectors appointed by the High Court. The court may, where it thinks fit, cause any such report to be printed and published and also furnished to certain other specified persons. A copy of every report is furnished to the Director of Corporate Enforcement following the commencement of relevant provisions the Company Law Enforcement Act, 2001.
