Business Regulation

Thursday, 15 November 2018

Questions (106)

Billy Kelleher

Question:

106. Deputy Billy Kelleher asked the Minister for Business, Enterprise and Innovation the progress to date for each of the action points made in the report Measures to Enhance Ireland's Corporate, Economic and Regulatory Framework, published in November 2017; if each such action point has been completed, not completed or is ongoing, respectively; and the revised deadlines for action points not delivered by the original timeframes, in tabular form. [47659/18]

View answer

Written answers

Minister for Business, Enterprise and Innovation

On 2 November 2018, the Government published “Measures to Enhance Ireland’s Corporate, Economic and Regulatory Framework: Ireland combatting “white collar crime”. A comprehensive set of 28 measures was developed to augment the existing regulatory and legislative framework in Ireland in the area of corporate, economic and regulatory crime. The implementation of these measures is progressing across 3 Departments: Business, Enterprise and Innovation; Justice and Equality; and Finance.

There has been considerable progress on the delivery of these actions, with most of the actions either completed, on schedule or on track to be completed.

In terms of my own Department, the following table sets out the progress on implementation since that publication was launched:

Progress on Measures to Enhance Ireland’s Corporate, Economic, and Regulatory Framework

Action Point No.	Action Point	Timeline	Progress/Revised Timeframe
1	Develop legislative framework following appropriate consultation with stakeholders	Q1 2018	Complete
2	Publish the General Scheme of Bill	Q2 2018	Ongoing. The General Scheme of a Bill to give effect to this decision will be published in Q4 2018
3	Pre-legislative scrutiny	Q3 2018	Not completed. Timeline has been revised to Q1 2019.
4	Publish Bill	Q4 2018	Timeline has been revised to Q2 2019.
5	Enact Bill	Q2 2019	Timeline has been revised to Q4 2019.
10	CLRG to publish its Report on Corporate Governance	Q4 2017	Complete.
11	DBEI to consider the CLRG Report and publish General Scheme of Bill as appropriate	Q2 2018	Ongoing. It is intended that any proposals for legislative change, on foot of the Report, will be included in the General Scheme of the Bill to establish the ODCE as an agency.
14	Initiate Public Consultation seeking views from stakeholders to inform transposition of the Directive	Q1 2018	Complete.
15	Transpose Directive	Q2 2019	Ongoing. The transposition deadline of 10 June 2019 is expected to be met.
16	Publish the Companies (Statutory Audits) Bill 2017	Q4 2017	Complete.
17	Enact Companies (Statutory Audits) Bill 2017	Q2 2018	Complete.