Oireachtas Joint and Select Committees

Wednesday, 6 November 2013

Select Committee on Jobs, Enterprise and Innovation

Companies Bill 2012: Committee Stage (Resumed)

10:30 am

Photo of Michael ConaghanMichael Conaghan (Dublin South Central, Labour) | Oireachtas source

Most companies are established to manufacture or supply goods and services, operate in a legitimate way and the way they are regulated needs to be revised and changed from time to time, which is what the Bill is about. However, there are entities that cleverly masquerade as authentic companies with a facade of ordinariness about them but there is a great deal of public knowledge that they are involved in various nefarious schemes. Does the State need additional powers or does the State feel that is a matter for the Garda? Does a section in the Bill deal with this? I missed some of yesterday's meeting and the committee may have dealt with this evil in commercial life. Is there a recognition of it? Is it quantified? Are sufficient measures and instruments in place? Some of this activity damages and undermines legitimate business activity and adds to unemployment in legitimate trading areas.

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