asked the Minister for Industry, Trade, Commerce and Tourism the directives relating to company law that have yet to be implemented by the Irish Government; the year each such directive was issued by the EEC; and when it is intended to introduce legislation to implement the outstanding directives.
Ceisteanna—Questions. Oral Answers. - EEC Directives on Company Law.
8.
The following directives relating to company law have yet to be translated into national law by the Irish Government: Third Council Directive adopted on 9 October 1978; Fourth Council Directive adopted on 25 July 1978; Council Directive 79/279/EEC adopted on 5 March 1979; Council Directive 80/390/EEC adopted on 17 March 1980; Council Directive 82/121/EEC adopted on 15 February 1982; Sixth Council Directive adopted on 17 December 1982; Seventh Council Directive adopted on 13 June 1983; Eighth Council Directive adopted on 10 April 1984.
The position in relation to the implementation of the Fourth Directive on Company Law was set out in reply to a written question on 16 May 1984 in which I indicated that I have in preparation at present a comprehensive memorandum dealing with all the complex issues involved in this Directive which require detailed examination.
I expect to finalise in the very near future my proposals to Government in this matter. In the meantime the basic work on preparing implementing legislation has been carried out in my Department so that once decisions are taken, the process of implementation will proceed without delay. It is not possible at this stage to specify a precise date by which these measures will be implemented and while I would wish to have a Bill circulated before the summer recess, this may not be possible due to the complexities of the issues involved.
The draft of the necessary legislation in relation to Directives 79/279/EEC, 80/390/EEC and 82/121/EEC is at an advanced stage and I expect to be in a position to bring them into effect in the near future.
As the Third and Sixth Directives are not due for translation into national law until 1 January 1986 and the Seventh and Eighth Directives until 1 January 1988. I am not yet in a position to state when the necessary legislation will be introduced.
Do all of these Directives require legislation for implementation? Can any of them be implemented by ministerial order?
Council Directives Nos. 79/279, 80/390 and 82/121 may be introduced by regulation. The preparation of the enabling legislation is at an advanced stage. I understand it is hoped to submit them to me shortly for signature.
The Minister has indicated that various things are at an advanced stage, but some of these Directives date from 1978. Does the company law reform which apparently was at an advanced stage under the previous Minister incorporate these Directives, or does it deal only with Irish company law and not take the European Directives into account? Can the Minister say at what stage the general company law reform is at the moment?
Two major Bills were in preparation under my predecessor. One deals with domestic law mainly and which deals essentially with abuses of company law, abuses of limited liability. The other concerns the Fourth Directive which is in regard to the publication of accounts of private companies. Both of those have been submitted to me, one in the relatively recent past and the other some time ago. The issues raised are extremely complex. I am working very hard on them to try to come to conclusions about them. In regard to the Fourth Directive I hope, if possible, to introduce it before the summer recess. I cannot give any promises on that. I will also be working at a similar pace on the other domestic legislation.
If it is not introduced before the summer recess, will it definitely be introduced in the autumn session?
Almost certainly.
Has the Minister received any representations from the appropriate authorities in the EEC regarding the implementation of these Directives which are so much in arrear? Are there any sanctions which might be brought to bear against us for failure to comply with these Directives?
Although the Third Directive dates back to 1978, it is not mandatory until 1986. The Fourth Directive is mandatory and we have received representations from the EEC asking us to comply with it at an early date.
What is the consequence of non-compliance?
I suppose ultimately the consequence could be that we would be taken to the European Court.