Mary Coughlan (Donegal South West, Fianna Fail)

That matter is being considered in the context of company law. It is important to be careful. The Minister for Finance is also considering this issue in the context of banking institutions. It is within those confines that I agree with the Deputy that we can progress this matter from a "comply and explain" basis into a legal framework.

Deputy Penrose is aware that I announced amendments to the Companies Acts yesterday arising from my concerns that the Director of Corporate Enforcement would have robust legislation available to him arising out of those issues. After my initial inquiries, he reverted to me and indicated that he needed some matters facilitated. That is what I announced yesterday. Equally, I asked whether he had the relevant resources to have that carried out and that this would be provided. We are ad idem on this issue in the differentiating of the companies to which the Deputy referred.

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