The Director of Corporate Enforcement, ODCE, has a range of investigative and enforcement powers, which permit the imposition of criminal and civil sanctions by the Courts for breaches of the Companies Acts and abuse of the privilege of limited liability. The director's responsibilities include the supervision of unliquidated insolvent companies, UICs. The Office of the Director of Corporate Enforcement has published a booklet on UICs, which indicates the director's approach to addressing this phenomenon. The director has undertaken to forward a copy of this publication to the Deputy for his information.
When companies grant-aided by the industrial development State bodies under the aegis of my Department close or liquidate and contingent liabilities remain outstanding on grants paid to the companies, the liabilities crystallise and the relevant agency seeks to have any moneys repaid to it. When these agencies consider providing funding assistance to any company, either new or expanding and which has had a prior corporate existence, I understand that they will take account of all aspects of the track record of the promoters of the company.