Dáil Éireann debate -
Tuesday, 5 Nov 2002

Vol. 556 No. 3

Written Answers. - Company Returns.

John Bruton

Question:

137 Mr. J. Bruton asked the Tánaiste and Minister for Enterprise, Trade and Employment the way in which a company (details supplied) submitted abridged accounts to the Companies Office which make no reference to the receipt of capital grants from any source; if the company in fact accounted for its grants; the way in which they were accounted for; and if she will make a statement on the matter. [20577/02]

Minister of State at the Department of Enterprise, Trade and Employment (Mr. M. Ahern)

The CRO is the central repository of public statutory information on Irish companies. It is responsible for the receipt and registration of post-incorporation documents, for enforcement of company filing requirements and for provision of information to the public. It is a matter for persons signing documents for registration by the CRO to ensure that the information supplied is correct. Accounts are also, in most cases, subject to audit by a qualified auditor.

Killencoole Garden Compost Limited was incorporated on 9 May 1995. It was dissolved on 3 March 2000 for non-filing of annual returns. The company had, however, filed the outstanding annual returns just before strike off but these had not been keyed onto the CRO computer at the time of the strike off.

In the circumstances, the company was allowed to file an application for restoration to the register without payment of the applicable fee notwithstanding the fact that the forms had been completed incorrectly in a number of ways. The company proved very slow in responding to requests from the office to correct the returns so much so that by December 2001, the annual return for 2000 had become overdue. The statutory time for receipt by the CRO for the filing of a correct application for restoration expired on 3 March 2001 and thereafter it was necessary to apply to the High Court for a restoration.

At end-December 2001, the company's presenters initiated the process of applying for a High Court order for restoration of the company to the register. The registrar has indicated that he has no objection to such restoration as the company has now filed all outstanding returns.

Following the establishment of the Office of the Director of Corporate Enforcement on 28 November 2001, responsibility for company law investigations rests with the Director of Corporate Enforcement. The Deputy will appreciate that, under the Company Law Enforcement Act, 2001, the director is independent in the discharge of his duties.