Vol. 538 No. 1
103 Mr. Howlin asked the Tánaiste and Minister for Enterprise, Trade and Employment the current 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 investigation; the inquiries in respect of which reports have been referred to the Director of Public Prosecutions. [17225/01]
Five examinations of company books and documents are ongoing 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. The examinations of Celtic Helicopters Limited and Kentford Securities Limited are well advanced, and I expect to receive reports on these companies in the coming months.
Reports on Bula Resources, Holdings, plc, Garuda Limited and National Irish Bank Financial Services Limited are with the Director of Public Prosecutions for consideration.
Last July the High Court quashed my decision to examine the books and documents of Dunnes Stores Ireland Company and Dunnes Stores, ILAC Centre, Limited. An appeal has been lodged on my behalf with the Supreme Court and will be heard on 2 July 2001.
Three High Court inquiries are being undertaken into National Irish Bank Limited, NIB, and National Irish Bank Financial Services Limited and Ansbacher, Cayman, Limited. These enquiries are expected to conclude with reports to the High Court.
The High Court Inquiry into Ansbacher, Cayman, Limited is continuing its work. Subject to the completion of all current and potential future legal proceedings, they hope to have their final report completed and lodged with the High Court by the end of 2001.
Following receipt of the Report into Faxhill Homes Limited undertaken by my authorised officer, Mr. George Maloney, and having obtained legal advice on the matter, a series of summary prosecutions were initiated. On Monday 21 May 2001 at Naas District Court, arising from guilty pleas, the following were recorded: Faxhill Homes Limited was convicted of two offences relating to section 19 of the Companies Act, 1990; one each in relation to section 91 of the Companies Act, 1963 and sections 202 and 242 of the Companies Act, 1990 and fined a total of £450; John Tierney, a director of Faxhill Homes Limited, was convicted of one offence each relating to section 19 and section 202 of the Companies Act, 1990, and section 91 of the Companies Act, 1963, and fined a total of £250; Jennifer Tierney, a director of Faxhill Homes Limited, was convicted of one offence relating to section 91 of the Companies Act, 1963 and the Probation of Offenders Act was applied.
In addition costs of £10,000 were awarded to the State. The convictions obtained in respect of sections 19, 242 and 91 are the first such obtained.
Question No. 104 answered with Question No. 57.
