Dáil Éireann díospóireacht -
Tuesday, 6 Feb 2001

Vol. 529 No. 4

Written Answers. - Departmental Inquiries.

Proinsias De Rossa

Ceist:

51 Proinsias De Rossa asked the Tánaiste and Minister for Enterprise, Trade and Employment the position regarding each of the inquiries being carried out by or on behalf of her Department; the projected date for the conclusion of each such inquiry; 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. [2996/01]

Phil Hogan

Ceist:

73 Mr. Hogan asked the Tánaiste and Minister for Enterprise, Trade and Employment the status of the various investigations and inquiries being carried out in her Department; and when she expects these inquiries to be completed. [2006/01]

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

I propose to take Questions Nos. 51 and 73 together.

Five examinations of company books and documents are currently ongoing under section 19 of the Companies Act, 1990. The companies involved are Celtic Helicopters Limited, College Trustees Limited, Guinness & Mahon (Ireland) Limited, Hamilton Ross Co. Limited and Kentford Securities Limited. The examinations of Kentford Securities Limited and Celtic Helicopters Limited are at an advanced stage and I expect to receive final reports on these companies in the coming months. The examinations of Guinness & Mahon (Ireland) Limited, Hamilton Ross Company Limited and College Trustees Limited are continuing.

In its judgment of 28 July 2000, the High Court quashed the section 19 appointments to Dunnes Stores Ireland Company and Dunnes Stores (ILAC Centre) Limited. Considerable issues of law have arisen from that decision, and an appeal has been lodged to the Supreme Court and will be heard on 2 July 2001.

A further six investigations have been completed to date, namely, National Irish Bank Financial Services Limited, under section 59 of the Insurance Acts, Bula Resources (Holdings) plc., under section 14 of the Companies Act, 1990, Garuda Limited, t/a Streamline Enterprises, Ansbacher (Cayman) Limited, Irish Intercontinental Bank Limited and Faxhill Homes Limited, the latter four under section 19 of the Companies Act, 1990.

The reports on Bula Resources (Holdings) plc, Garuda Limited, t/a Streamline Enterprises, and National Irish Bank Financial Services Limited are with the Director of Public Prosecutions for consideration.

Consultations with my legal advisers are ongoing regarding the initiation of summary prosecutions for breaches of the Companies Acts identified in the Bula report.

Twenty nine summonses have been issued against Faxhill Homes Limited and its directors in respect of breaches of the Companies Acts. The case is currently being heard in Naas District Court. The defendants have pleaded guilty to three offences under section 91 of the Companies Act, 1963. The case will resume on 5 March 2001.

As regards the section 8 High Court inquiry into Ansbacher Cayman Limited, the current inspectors are Mr. Paul Rowan, FCA, Ms Noreen Mackey, BL, Mr. Justice Seán O'Leary and Mr. Michael Cush, SC. The inspectors are operating to the mandate of the High Court and will make reports to the court in due course. I expect that it will be at least six months before this inquiry can be completed.

The section 8 inquiry into National Irish Bank Limited and National Irish Bank Financial Services Limited is also ongoing and I hope that the inspectors' inquiry can be concluded shortly.