Mary Coughlan (Donegal South West, Fianna Fail)

The section relates to the role of company directors. Reckless trading has its own parameters and determinations. As I indicated, the reason I have introduced this legislation is to supplement some of the existing legislative powers of the Office of the Director of Corporate Enforcement. I asked the Director of Corporate Enforcement whether the legislation was robust enough and he said it was and that there was more than adequate provision. However, on the basis of his current experience, his view was that additional legislative measures needed to be introduced.

As the Senator knows, reckless trading has its own configurations. I do not want to damage, in any way, ongoing investigative work which has not been brought to completion, nor, I am sure, does anybody in this House. No one in either House wants to say anything that would disadvantage or take from the independent work being carried out by the Director of Corporate Enforcement.