Dáil Éireann debate -
Tuesday, 18 Jun 2002

Vol. 553 No. 2

Written Answers. - Director of Corporate Enforcement.

Willie Penrose

Question:

121 Mr. Penrose asked the Tánaiste and Minister for Enterprise, Trade and Employment if she will make a statement on the recently published first annual report of the Office of the Director of Corporate Enforcement. [13642/02]

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

I welcome the publication of the first annual report of the ODCE. It is confirmation that the important work of this office in ensuring compliance with company law is well under way.

The establishment of this office is a major step in enhancing Ireland's reputation as a good place to do business and as a place that operates to the highest possible international standards of corporate governance. The material contained in its annual report for 2001 covers the activity of the director and his staff while the office was in an interim form and in the post establishment period between 28 November and 31 December 2001.

The report to a great extent is dominated by the hard work carried out by a small number of staff in preparing for the launch of the office prior to 28 November 2001. This work included the location of premises, recruitment of staff, development of the ODCE website and publication of various materials relating to the ODCE's work.

A particular effort has been made by the director to inform non-professionals of the requirements of company law. Initiatives by the director in this area are detailed in the report. It also includes information on investigations and prosecutions, both ongoing and newly initiated.