Dáil debates

Wednesday, 15 June 2016

Priority Questions

Company Closures

2:45 pm

Photo of Pat BreenPat Breen (Clare, Fine Gael) | Oireachtas source

The Department of Social Protection, as a creditor, is considering how the provisions of the Companies Act 2014, including section 599 to which the Deputy referred, might be used to recover moneys expended from the Social Insurance Fund.

The Duffy-Cahill report is a comprehensive document which makes a number of proposals that need to be considered together as no single proposal will provide a solution. My priority is to ensure that these events are not repeated in the case of any other company. My second priority is to complete the public consultation and that will be done on Friday next. The stakeholders, including the business employers, trade unions and others, have been consulted. The Company Law Review Group has also made recommendations in respect of company law. The role of the Department is to formulate detailed proposals as quickly as possible to ensure this case is not repeated.


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