Mary Coughlan (Donegal South West, Fianna Fail)

The Companies Act 1990 comes under my Department. As the Deputy is aware, we are carrying out a number of serious reviews of the Act and more than 1,200 sections will be brought before the House for consideration. The specific issue the Deputy mentioned is an overarching one between the Companies Act and what will happen in financial regulation. The view is that issues appertaining to financial regulatory matters will be transferred in due course so they are under the auspices of the Department of Finance rather than my Department. I will deal specifically with companies which are financial institutions but there are other overarching matters that must be dealt with. I will ask the Minister for Finance to prepare a briefing note for the Deputy.

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