Vol. 570 No. 2
112 Mr. S. Ryan asked the Tánaiste and Minister for Enterprise, Trade and Employment the position in regard to 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 DPP; and if she will make a statement on the matter. [18476/03]
113 Mr. Sherlock asked the Tánaiste and Minister for Enterprise, Trade and Employment the total costs incurred by the State, at the latest date for which figures are available, arising from the various inquiries instigated by or on behalf of her Department; the element of these costs which have been recovered from any of the other parties involved; and if she will make a statement on the matter. [18477/03]
I propose to take Questions Nos. 112 and 113 together.
Sixteen investigations into company law matters have been initiated by me since I first came into office as Minister for Enterprise, Trade and Employment. In respect of three of these, the High Court appointed, on an application by me, inspectors under section 8 of the Companies Act 1990. The inspectors appointed to Ansbacher (Cayman) Limited presented their report to the High Court on 10 June 2002. The report was subsequently published and has been passed to the Director of Public Prosecutions.
Section 8 inquiries into the affairs of National Irish Bank Limited and National Irish Bank Financial Services Limited are continuing. I understand that the final report is likely to be submitted to the High Court towards the end of 2003. One investigation under section 14 of the Companies Act 1990 was completed in 1998. The report on this has been passed to the DPP.
Eleven investigations were initiated by me under section 19 of the Companies Act 1990. Six of these have been concluded. Of the six investigations completed, two of the reports were passed to the DPP. A number of summary prosecutions have since been successfully concluded in one case. One report provided an input into the successful application to the High Court for the appointment of inspectors under section 8 while the fourth report was passed to the relevant High Court inspectors. One report was completed in September 2002 and has been referred to the Director of Corporate Enforcement, as has a further report which was completed recently.
Three investigations under section 19 are ongoing. The report in respect of one of these investigations is at a very advanced stage. Two investigations were held up in legal appeals. These inquiries are now the responsibility of the Director of Corporate Enforcement. One investigation was undertaken under section 59 of the Insurance Act 1989. The report on this has been referred to the DPP as well as to the inspectors undertaking the section 8 investigation into that company.
