Oireachtas Joint and Select Committees

Tuesday, 19 February 2019

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

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

Photo of Pádraig Mac LochlainnPádraig Mac Lochlainn (Sinn Fein) | Oireachtas source

I must apologise. I had to step out for two votes in the Seanad. We were dealing with legislation. Apologies for the crossover of responsibilities today. However, I heard the ODCE's opening statement. As the ODCE representatives will be aware, the committee will be receiving its documentation and engaging on those issues.

First, I want to go back to 2012. In 2012, Mr. Remy Farrell SC made an intentionally provocative statement that it was the best time to be a white collar criminal. He pointed to the dearth of resources in the ODCE at that time. This was four years after the economic collapse of the State. Most people would agree that sharp practice in the banking and business sectors led to the collapse of the State. One would have assumed that four years after that, we would have had a properly resourced corporate enforcement agency in the State. I draw the ODCE representatives attention to those comments and ask for their thoughts on them. The second point is the issue of policy cohesion. As they will be aware, the Law Reform Commission in recent times has talked about a corporate crime agency. I would draw their attention again to an article they may recall, written by the columnist, Dr. Elaine Byrne, in The Sunday Business Post. Dr. Byrne pointed to the need for all the agencies in the State, including the ODCE, the Data Protection Commissioner, the computer crime investigation unit of An Garda Síochána, and the Garda Bureau of Fraud Investigation, that are tasked with looking at corporate crime to come under one roof. I want to hear the ODCE's thoughts, both on this issue of resources and on the issue of cohesion and proposals to join up all the agencies of State under one roof.

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