Vol. 529 No. 4
77 Mr. J. O'Keeffe asked the Tánaiste and Minister for Enterprise, Trade and Employment the reason there are enormous delays in completing the various examinations, inspections and investigations into various companies by her Department; and if she expects to have these completed in the foreseeable future. [3062/01]
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 am more than satisfied that these investigations will conclude fairly rapidly. The examinations of Guinness & Mahon (Ireland) Limited, Hamilton Ross Co. Limited and College Trustees Limited are continuing. Arising from the volume and complexity of the documentation, as well as the continuing emergence of substantial quantities of significant documents, the investigations are continuing. It should also be understood that there is considerable cross-referencing between some of these investi gations which will result in some of the examinations coming to conclusion at the same time.
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. An appeal has been lodged with the Supreme Court and the hearing will be on 2 July 2001.
Six complex and intricate company 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), Garuda Limited (t/a Streamline Enterprises), Irish Intercontinental Bank Limited, Faxhill Homes Limited, and Ansbacher (Cayman) Limited (Section 19), the latter four under Section 19 of the Companies Act, 1990.
Question No. 78 answered with Question No. 41
