Oireachtas Joint and Select Committees

Tuesday, 19 October 2021

Select Committee on Jobs, Enterprise and Innovation

Companies (Corporate Enforcement Authority) Bill 2021: Committee Stage

Photo of Robert TroyRobert Troy (Longford-Westmeath, Fianna Fail) | Oireachtas source

I thank Deputy Bruton for giving me the opportunity to clarify the membership of the new body. The new authority structure is similar to a commission, with a chairperson assisted by other members who have delegated responsibilities for other specific functions. Section 944F stipulating the membership of the authority provides for up to three full-time members and it is designed to give scope to structure the authority to meet the differing demands of its remit. These include: investigation; prosecution; supervision; and advocacy along specific lines of responsibility. The idea is to give flexibility.

If several big cases arise at the same time, then the new authority would be able to have an additional one or two members to work with the chairperson. The members will be full-time and appointed for a period of up to five years, with the possibility of being reappointed for a further term of up to five years. Recruitment will be run by the Public Appointments Service, PAS. One of the members shall be appointed as the chairperson to ensure continuity between the ODCE and the new authority. Section 944F provides that the person who is the director of that body immediately before the establishment day shall be a member of the authority unless he or she resigns, is removed, dies or otherwise vacates that office.

Regarding the appointment of additional members, my primary concern is to establish the new authority. I also want to ensure that the Office of the Director of Corporate Enforcement has sufficient resources, financial and in respect of office space, in place to fulfil its statutory mandate. We are satisfied that it has the requisite people in place. As I said to Deputy O'Reilly earlier, however, we have an open mind regarding the appointment of additional members when the authority is established. A reasonable expectation therefore is that the membership will grow over time. The primary objective now, though, is to get the new authority up and running by 1 January 2022, or certainly in January of next year, and to ensure the additional staff approved have been recruited and that the authority will be fit for purpose in future. To answer Deputy Bruton's query, then, scope exists to increase the membership of the new authority to three, similar to the composition of the CPCC, as the Deputy referred to in his contribution.

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