The Moriarty Tribunal made two recommendations for changes to company law, as follows:
- That a provision similar to section 172 of the UK Companies Act, 2006 be adopted, together with the adoption of additional implementation or enforcement measures.
- That consideration be given by the Oireachtas, and/or by the Company Law Review Group, to enacting provisions similar to those contained in Part 14 of the UK Companies Act, 2006, governing the control of political donations and expenditure.
The Government considered that provisions in the Companies Bill 2012, which will consolidate and give a statutory footing to the duties of directors, meet the objectives of the first recommendation above. This Bill was published on 21 December 2012. With regard to the second recommendation above, provisions restricting corporate donations are contained in the Electoral Amendment (Political Funding) Act 2012, which comes within the remit of the Minister for the Environment, Community and Local Government.