Vol. 504 No. 5
46 Mr. Rabbitte asked the Tánaiste and Minister for Enterprise, Trade and Employment the inquiries being carried out by or on behalf of her Department; the progress, if any, being made in regard to these inquiries; and if she will make a statement on the matter. [12205/99]
My Department is currently examining the books and documents of six companies under section 19 of the Companies Act, 1990. The companies involved are Ansbacher (Cayman) Limited, Celtic Helicopters Limited, Guinness & Mahon (Ireland) Limited, Hamilton Ross Company Limited, Irish Intercontinental Bank Limited and Kentford Securities Limited.
I expect to receive final reports on a number of these investigations within the next two months or so.
In addition, I have appointed an authorised officer to a further three companies. In the cases of Dunnes Stores Ireland Company and Dunnes Stores (ILAC Centre) Limited, I am awaiting the outcome of High Court judicial review proceedings of my decision. On 10 March 1999, I appointed Mr. Gerard Ryan to examine the books and documents of College Trustees Limited, a Guernsey-registered company, and I hope that Mr. Ryan will be given the books and documents that he has specified in the coming weeks. Having regard to the fact that company books and documents have yet to be made available in these cases, it is too early for me to speculate as to when this work might be completed.
Five reports of companies undertaken by or on behalf of my Department have been completed, and those relating to Bula Resources (Holdings) plc, under section 14 of the Companies Act 1990, and National Irish Bank Financial Services Limited, under section 59 of the Insurance Act 1989, have so far been referred to the Director of Public Prosecutions. I understand that in both cases, the director has referred the matters to the Garda Síochána for investigation.
The reports into Garuda Limited and Faxhill Homes Limited, under section 19 of the Companies Act, 1990, are being examined at present, and a decision will be made shortly on whether these will be referred to the DPP. My Department is also examining the report on Irish Life plc which was undertaken under the Insurance Acts.
While the inquiries into National Irish Bank Limited and National Irish Bank Financial Services Limited were initiated at my request under section 8 of the Companies Act 1990, they are proceeding under the auspices of the High Court. While the inspectors appointed by the court have filed a number of interim reports since their appointment, I understand that it will be some time yet before they will be ready to submit their final report to the High Court.
