Oireachtas Joint and Select Committees

Tuesday, 5 February 2019

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

General Scheme of the Companies (Corporate Enforcement Authority) Bill 2018: Discussion

Ms Sabha Greene:

The Law Reform Commission's recommendations were made at the end of October last year. The heads of the Bill had already circulated within the Government with a view to being approved, which they were on 4 December, so the recommendations came a little late to get a very comprehensive review. The Law Reform Commission began by recommending that we carry on with the proposal the Government had issued the year before to establish the ODCE as a separate agency. The Deputy is correct that the Law Reform Commission also spoke about a national crime agency, but that would deal with much wider issues than just company law and it needs a bit of thought. This is one of the recommendations of the Law Reform Commission that is being considered by the review group on anti-fraud and anti-corruption structures, so it has not been rejected but is being looked at. The review group involves a range of stakeholders, including the Department of Justice and Equality, the Garda, the Central Bank, the Department, the ODCE and the Competition and Consumer Protection Commission. It is due to make recommendations at the end of June.

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