The Moriarty Tribunal made two recommendations for changes to company law, as follows: That a provision similar to section 172 of the UK Companies Act 2006 be adopted, together with the adoption of additional implementation or enforcement measures. That consideration be given by the Oireachtas, and/or by the Company Law Review Group, to enacting provisions similar to those contained in Part 14 of the UK Companies Act 2006, governing the control of political donations and expenditure.
The Government considered that provisions in the forthcoming Companies Bill, which will consolidate and give a statutory footing to the duties of directors, meet the objectives of the first recommendation above. The first, and main, part of the Companies Bill, including the provisions on directors' duties, was published in "soft copy" in May 2011.
With regard to the second recommendation above, the Government intends to impose restrictions on corporate donations within electoral, and not company, law. Accordingly, provisions to this effect are contained in the Electoral Amendment (Political Funding) Bill, which comes within the remit of the Minister for the Environment, Community and Local Government, and which is currently before the Oireachtas.