Regina Doherty (Meath East, Fine Gael) | Oireachtas source

I will answer the question on the Duffy Cahill report and write to the Deputy on the other issues. The Deputy is aware the Duffy Cahill report was sent to the Company Law Review Group in 2016 for its consideration, as that group was advising the Minister with responsibility for business. All of the responsibilities associated with this particular issue were then with that Department. They are in mine now. The Company Law Review Group is a statutory body comprising regulatory, legal, business and employee interests. As part of its deliberations, it considered the related amendments that were proposed by Deputy Nash in the Companies (Accounting) Bill published in April 2017. Its report on the protection of employees and unsecured creditors was presented to the then Minister in 2017 and published on the group's website. Unfortunately, it did not include the implementation of the Duffy Cahill report because the group said it gave rise to a host of complex issues and that any proposal to progress them would require further and careful consideration. We need to have that further and careful consideration starting right now. With respect, I can start that in the Department but I will leave it up to the Deputy to make sure it is continued by whomever takes over from me. It really is pertinent.

The Deputy mentions the very obvious elephant in our room. Many companies will not necessarily reopen or will not reopen in the same way as before 13 March. We need to make sure that we protect the assets and employees of those companies and do right by them. This is definitely a good start. I will write to the Deputy on the other matters.

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