Vol. 516 No. 5
137 Mr. Higgins (Mayo) asked the Tánaiste and Minister for Enterprise, Trade and Employment the prosecutions, if any, which have commenced arising out of the series of inquiries carried out by her Department; and if she will make a statement on the matter. [8032/00]
Of the five company investigations which have been completed by my Department, two of the reports are the subject of further inquiry by the High Court inspectors appointed to Ansbacher (Cayman) Limited and National Irish Bank Financial Services Limited. I will await the outcome of these inquiries before determining if summary prosecutions for breaches of the Companies Acts or other legislation can be initiated in either case.
In the case of Garuda Limited, I have been legally advised that I am precluded from initiating summary prosecutions under the Companies Acts, having regard to the time limitations contained in section 240(5) of the 1990 Act.
With respect to the reports on Bula Resources (Holding) plc and Faxhill Homes Limited, my Department is examining with our legal advisers the possibility of initiating summary prosecutions for suspected offences of the Companies Acts. A decision on these matters will be made in due course.
The Bula, Garuda and NIBFS reports are also with the Director of Public Prosecutions. I have no information on the intentions of the DPP with respect to any of these reports.
