andMr. McQuillan asked the Minister for Industry and Commerce whether the report of the inquiry into Irish Estates Limited will be made public.
Ceisteanna—Questions. Oral Answers. - Irish Estates, Limited.
40.
Section 109 of the Companies (Consolidation) Act, 1908, provides that on the conclusion of their investigation the inspectors shall report their opinion to me, that a copy of the report shall be forwarded by me to the registered office of the company, and that a further copy shall, at the request of the applicants for the investigation, be delivered to them. There is no provision in the Act for the publication of the report by any of the parties concerned. Section 111 provides, however, that a copy of the report shall be admissible in any legal proceedings as evidence of the opinion of the inspectors.
Is the Minister precluded from making the report public?
I can only act within the provisions of the Act and I have no power to make it public.
I appreciate that. Could the Minister say if he is prohibited by the Act from making this report public?
I can only say the Act does not empower me to do so. I do not think I can make it public because the Act provides that a copy of the report shall be delivered to the particular company on its completion.
I understood the Minister said recently that the inspectors could, if they wished, hold the proceedings in public?
I did not. I said I was not familiar with the procedure last week. I have made myself familiar with it since. I said I did not know whether they could hold it in public or not.
I thought the Minister said that people who requested the inquiry would be given a copy of the inspector's report. In view of the fact that a request for the inquiry was made not alone by the company itself but by an employee of the company, will the Minister make sure that this former employee will be given a copy of the findings?
I am afraid I cannot ensure that because the applicants for the inquiry under the section of the Act are the majority shareholders of the company. The Act provides that shareholders representing ten per cent. of the shares have the right to apply for an inquiry and it is these applicants to whom I am obliged by the Act to give a copy of the report on their request.
I appreciate that.
The majority shareholder is the Minister for Finance.
Is it not a fact that the majority shareholder is the Minister for Finance?
Yes.
And, in the circumstances, surely it is not impossible for the Minister for Finance, as majority shareholder, to make public the results of the inquiry?
The Minister for Finance, like myself, will have to act in accordance with the law in that respect.
He has authority.
I do not think he has authority.
He has 90 per cent. of the shares.
The reason advanced by the majority of the shareholders for holding this inquiry was the publicity that was given to the charges made. In the circumstances, would the Minister not agree that the only way these people can be cleared, if they are to be cleared, of any public reflection on their behaviour in this regard is by the publication of the report, if it clears them?
I would agree.
In those circumstances, if the Minister has not got the power, could he not take the power—I am sure the Dáil would give it to him— in order to make the report public?
I have acted under the provisions of an Act. I am not entitled in midstream to change the provisions of the Act. As far as my own personal opinion is concerned, I agree with the Deputy but my opinion does not necessarily conform with the legal situation.
Would the Minister say whether he could lay a copy of the report on the Table of the House?
I cannot. I do not think I can.
The Minister for Finance is not specifically prohibited from making the report public. Surely he is empowered to use his discretion as to whether or not he should make it public?
There are other considerations as well, that I as Minister, without any right or any statutory protection, on publication could hold myself out for possible charges of defamation.
I agree that the Minister should consider that, but in view of the fact that this inquiry has been held as a result of the matter being raised in Dáil Éireann, would it not be reasonable to have the report made available to the members of Dáil Éireann?
In view of the fact that most Deputies have been given one side of the story, surely it is imperative that we get the other side of the story?
I should like to see it done, certainly, if it can be done.
Is it not better to clear the air?
Will any useful purpose be served in incurring the expense and trouble of holding the inquiry if the report is not made public? Is there any justification for the inquiry or for appointing your representatives unless we are to know the result?
The Minister for Finance will have certain information about the company then.