Dáil Éireann díospóireacht -
Tuesday, 13 Jun 2000

Vol. 521 No. 1

Written Answers. - Company Investigations.

Brendan Howlin

Ceist:

29 Mr. Howlin asked the Tánaiste and Minister for Enterprise, Trade and Employment the current position in regard to each of the inquiries being carried out by or on behalf of her Department; the progress made in respect of each such inquiry since 20 April 2000; the inquiries in respect of which reports have been referred to the Director of Public Prosecutions; and if she will make a statement on the matter. [16504/00]

Tánaiste and Minister for Enterprise, Trade and Employment (Ms Harney)

The authorised officer completed the report into Irish Intercontinental Bank Limited, under section 19 of the Companies Act, 1990 on 31 May last and I received the report on 1 June.

Five examinations of company books and documents are ongoing in my Department under section 19 of the Companies Act, 1990. The companies involved are Celtic Helicopters Limited, College Trustees Limited, Guinness and Mahon (Ireland) Limited, Hamilton Ross Company Limited and Kentford Securities Limited I expect to receive final reports on a number of these companies in the coming months.

My decision in mid-1998 to appoint an authorised officer to examine the books and documents of Dunnes Stores Ireland Company and Dunnes Stores (ILAC Centre) Limited, under section 19 of the 1990 Act remains suspended pending the outcome of judicial review proceedings. This was the subject of a recent High Court hearing which concluded on 6 June last. I expect the judgment in the case to be made at the end of this month.

Three companies are also being investigated by High Court inspectors under section 8 of the Companies Act, 1990. The companies involved are National Irish Bank Limited, National Irish Bank Financial Services Limited and Ansbacher (Cayman) Limited. In the latter case, the High Court on 7 June last approved an application by the three Ansbacher inspectors to seek access to certain company documentation in the Cayman Islands relevant to their inquiry. I expect each of these inquiries to be completed later this year or early in 2001.

As previously indicated, the investigation reports of Bula Resources (Holdings) plc., Garuda Limited and National Irish Bank Financial Services Limited are with the Director of Public Prosecutions. I have no information on the intentions of the DPP with respect to any of these reports.