Dáil Éireann Debate, Tuesday - 12 May 2015
325. Deputy Róisín Shortall asked the Minister for Jobs, Enterprise and Innovation the Government's response to the findings of the Moriarty tribunal; and if he will provide details of actions already taken and those proposed to be taken, and the timescale for same. [18135/15]
View answerThe 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 contained in Part 5 of the Companies Act, 2014 meet the objectives of the first recommendation. Part 5 introduces, for the first time in codified form, the various common law and statutory duties of company officers. The Companies Act, 2014 was signed into law by President Higgins on 23 December 2014 and it will commence on 1 June 2015 pursuant to S.I. 169 of 2015.
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.
