Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

As regards fake or bogus companies, the position is that once a company has been incorporated, it is subject to the provisions of company law and other legislation. This includes filing obligations with the CRO when company circumstances change and the filing of annual returns. In addition, newly incorporated companies have reporting obligations to the Revenue Commissioners and under anti-money-laundering legislation are required to register certain information in respect of their beneficial owners with the central register of beneficial ownership of companies and industrial and provident societies, that is, the RBO. My officials closely monitor existing company law frameworks to ensure they remain fit for purpose and are responsive to emerging challenges. For example, the Companies (Corporate Enforcement Authority) Bill, which is currently before the Oireachtas, contains new provisions requiring directors to provide personal public service numbers to the CRO. We believe this is a significant enhancement of the current regime and will assist the office in verifying the authenticity of directors and companies.

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