Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

Leaving aside Forbes magazine, we are one of the best countries in the world for start-ups thanks to the strong business and tax environment that we have created. Through Enterprise Ireland, we have support mechanisms that SMEs in many European countries would give their right arms to have. They do not have substantial state agencies that invest in hundreds of companies at the seed and emerging phases. We have a good network for supporting SMEs and cannot let it go. The figures support this. Of the 58,000 extra people at work in the past 12 months, 6,500 come from FDI whereas the other 51,500 come from Irish-owned sectors, which are dominated by SMEs. It is not true to say that there is some sort of a bias towards FDI.

The purpose of this provision is to bring examinership within reach. Under the Bill, an examiner shall, as far as is reasonably possible, make use of the services of the staff and facilities of the company to which he or she has been appointed to assist him or her in the performance of his or her functions. We are providing that the examiner must use those facilities. It would only be sensible for him or her to do so, as an examiner has knowledge of the business, trends, how a company is doing, what its customer base is and who its creditors are. However, the purpose of appointing an examiner is to bring additional expertise to bear. We are not going to insert legislative provisions that would seek to minimise the necessary use of such resources, but an examiner must justify those costs to a scrutineer at the end of the process.

Reverting to Deputy Calleary's point, the framework seeks to minimise the costs. While I agree with the motivation behind Deputy Creighton's amendment, for the reasons I have outlined it does not add to the Bill. However, I accept that we need to do more in this space. Bringing the process to the Circuit Court is a first move. The Company Law Review Group, CLRG, has indicated the need to examine the possibility of less formal processes to bring companies out of difficulty. We will do so, but the CLRG recommended that we make this provision straightaway, which we are doing.

There has been wide consultation. This formed part of the large Companies Bill, in respect of which there was tremendous opportunity for consultation. Business organisations, some of which have been mentioned, are keen that we proceed. We have not failed to consult widely. There has been-----

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