Wednesday, 2 April 2014

Questions (122)

Stephen Donnelly

Question:

122. Deputy Stephen S. Donnelly asked the Minister for Jobs, Enterprise and Innovation if he will publish in full the recommendations on the laws of insolvency applying to small and medium enterprises made to him by the Company Law Review Group; the way his Department has dealt with these recommendations to date; the steps he intends to take; and if he will make a statement on the matter. [15456/14]

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Written answers (Question to Jobs)

The Company Law Review Group (CLRG) publishes all of its Reports in full and these are available on its website – www.clrg.org. Its Report entitled “CLRG Report on reducing the costs of rescuing viable small private companies 2012” is published as a separate report and also included in the CLRG Annual Report 2012. This Report contains recommendations regarding the application of examinership to small and medium enterprises.

Based on the recommendations of the CLRG, the Companies (Miscellaneous Provisions) Act 2013 was enacted in December 2013 which contains provisions designed to make the examinership procedure less costly for small private companies. The Act provides for small private companies to apply directly to their local Circuit Court for the appointment of an examiner, rather than having to do so through the High Court. These measures are due to be commenced shortly, following procedural issues being completed regarding the new Rules of Court to apply in the Circuit Court.

It is my intention, as indicated in the Dáil debate on the Deputy’s Private Member’s Bill, that various issues in relation to examinership that were debated at that time, including CLRG recommendations, will be examined further to assess their viability.