Feargal Quinn (Independent)

I urge the Minister of State to give serious consideration to this amendment, which I second. This is probably my last opportunity to speak on it because I realise now that my name is not down as a proposer. I have a real concern that there is an anti-business attitude to legislation brought before the House and that this is another example. I voiced this concern when I talked about the fact that the regulatory impact assessment did not come through and when I referred to the setting up of a review group and then an interim board on which business people were not adequately represented. That is the case, not just in this Bill but in other legislation also. The amendment seeks to insert the words "or if not such cases of non compliance have been reported to the relevant statutory authority" in the Bill. It is a good example of the proposals brought forward by Senator Coghlan.

The legal environment here is becoming more and more hostile to business as is evidenced by a number of Bills enacted in recent years. The Competition Act 1996 gives the State police powers to carry out "dawn raids on directors' homes and offices on suspicion.". The Company Law Enforcement Act 2001 obliges auditors to report to the Director of Corporate Enforcement if he or she thinks there may have been an offence committed. The Criminal Justice Act 2001 obliges auditors to report to the Garda that an employee "may have committed an offence". The Companies (Auditing and Accounting) Bill is just another example. I am concerned about all this legislation because it appears there is a lack of understanding of those who set up businesses, provide jobs and create the wealth of this nation.

I found the language used today from the other side of the House to be intemperate, inaccurate and unacceptable, and the Acting Chairman was right to criticise anyone who named a person. Fraud will happen and has happened but to assume that with all the processes put in being place it will never occur is wrong. It does. If one has put in place all the steps necessary to prevent it and somebody else has managed to establish fraud, one has done one's best.

I understand in the case of the AIB that both people mentioned offered their resignation and were turned down. We should be very careful in this House. If the biggest company in Ireland is criticised in the manner and tone in which it was criticised here today, that is unacceptable. I agree with the Acting Chairman that we must protect those not here to defend themselves from comments such as were made.