The Government adopted a package of Measures to Enhance Ireland’s Corporate, Economic and Regulatory Framework in October of last year.
One of the actions in that package was to establish the Office of the Director of Corporate Enforcement (the ODCE) as an agency. The Law Reform Commission’s Report on Regulatory Powers and Corporate Offences commends that action and recommends that the new agency should be established without delay.
I intend to bring a General Scheme of a Bill to give effect to that action to Government very shortly. As that Scheme is developed into a Bill, officials in the Department will continue to engage with the ODCE. The relevant recommendations of the Law Reform Commission will be considered as part of that work.
Another action in the Government’s package of Measures was to review anti-corruption and anti-fraud structures and procedures. Accordingly, the Department of Justice and Equality has established a Group to conduct that review. Officials from both the Department of Business, Enterprise and Innovation and from the ODCE are members of that Group.
That Group is considering the Law Reform Commission’s recommendations and I understand that it expects to conclude its work by end Q2 of 2019.