Heather Humphreys (Cavan-Monaghan, Fine Gael) | Oireachtas source

The Office of the Director of Corporate Enforcement, ODCE, has played and continues to play a key role in facilitating compliance and enforcement of company law. The ODCE 2016 annual report points to a number of key success during the year. Following the scrutiny of reports submitted to the office by liquidators of insolvent companies, 90 company directors were restricted and a further 11 were disqualified by the High Court. The Office of the Director of Corporate Enforcement examines and reviews all such reports and then makes a determination as to whether or not the liquidator is relieved from the obligations to apply for the restriction of a company director. Some 93 restriction undertakings were obtained from directors of insolvent companies and as a proportionate and cost-effective alternative to formal enforcement actions, cautions issued to a total of 61 companies, 108 directions were issued to relevant parties requiring them to comply with their statutory obligations under company law. In keeping with the ongoing strategic shift towards the investigation of more serious indications of wrongdoings, five investigation files were submitted to the Director of Public Prosecutions. The Office of the Director of Corporate Enforcement is certainly doing a lot of work in that space.

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