Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

As members know, the Office of the Director of Corporate Enforcement is under the aegis of my Department, which is not ideal on a number of fronts. A company law enforcement agency being an office in a Department is quite an old-fashioned structure. Once the legislation is passed, with the agreement of the Oireachtas, the idea is to establish the office as an agency in its own right with a director, more staff, additional powers and gardaí. It would have greater autonomy and be greater equipped to investigate what are complex breaches of company law. We all know company law is breached pretty regularly, unfortunately, in Ireland but proving that has been the hard point. Simple crimes are easier to prove than complex examples.

Once the office is freed of the constraints of being an office of a Department, it will be able to recruit specialised staff with expertise, such as forensic accountants. That is much easier to do under an agency model than the departmental Civil Service model. The office will have additional powers to be provided through this legislation and police powers legislation. I hope that covers the question.