Oireachtas Joint and Select Committees

Wednesday, 15 December 2021

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Companies Registration Office: Discussion

Mr. John Newham:

In terms of the SCARP process, there is a process adviser under the legislation which essentially steps into the role of the examiner in the examinership process. If he or she comes to an agreement in the SCARP process, the various forms and whatnot will be lodged with the CRO as they would be in the case of examinership. It is where an agreement is not reached that the courts might become involved. In terms of the outcome of that, if the company becomes insolvent the various forms would be lodged with the CRO. The CRO is more of a repository of the information and about the outcome rather than the process itself.