Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael) | Oireachtas source

The Government has taken several actions in response to the closure of Clerys. First, the CLRG was asked to examine legislation with a view to recommending ways the law could be amended to better safeguard companies, employees and unsecured creditors. That work is ongoing. I am awaiting recommendations from an expert group. My Department has looked at the Senator’s amendment and believes it dilutes what is there already. Accordingly, I am not going to accept this amendment. The CLRG is looking at section 599. We strongly believe that adding criteria before an event could inadvertently narrow or dilute the scope of the courts’ powers. I am committed to addressing any issues with section 599 if necessary but I am waiting for expert advice.

I cannot say when the CLRG report will be given to me but I am awaiting it. Senator Nash knows that it took us ten years to bring this company law all together. This process takes time and it is better to have good law than bad law.Introducing something from New Zealand law will not fix it. It would not strengthen section 599. I am saying that very honestly. I would like the Senators to take it on board. I am waiting for the expert group to come through.