Joanna Tuffy (Labour)

I move amendment No. 1:

In page 10, between lines 2 and 3, to insert the following:

"and

(c) by the addition of a paragraph (e) as follows—

'(e) under the Companies Acts 1963 to 2003 for the carrying on of any function exercisable by the Director of Corporate Enforcement, '.".

This amendment was tabled on Committee Stage but not moved when the Minister of State at the Department of Justice, Equality and Law Reform, Deputy Brian Lenihan, indicated that the Department would consider the matter. The reason for it is that while the Criminal Assets Bureau may pursue companies, it does not have the powers of the Director of Corporate Enforcement to pursue them fully. It would, for example, assist the Criminal Assets Bureau in pursuing companies which have dealt with the proceeds of crime if it could exercise powers under the Companies Act. Conflict could potentially arise if the Criminal Assets Bureau were to enter into negotiations with a company at a time when the Director of Corporate Enforcement still wished to pursue the company on the matter. Giving the Criminal Assets Bureau the powers of the Director of Corporate Enforcement would resolve the issue.