Trevor Sargent (Dublin North, Green Party)
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Question 17: To ask the Tánaiste and Minister for Enterprise, Trade and Employment the further investigations that have taken place following the publication of the report of the inspectors appointed to inquire into the affairs of a company (details supplied); and if she expects prosecutions or further action to be taken on foot of it. [18120/04]

Mary Harney (Dublin Mid West, Progressive Democrats)
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Following the commencement of the Company Law Enforcement Act 2001, it is now the statutory responsibility of the Director of Corporate Enforcement to pursue the possible breaches of the Companies Acts identified in the report. The Act requires him to perform his functions with respect to the Companies Acts on an independent basis. He does not report to me on an individual case or issue that is the subject of an examination by his office. However, he did emphasise his determination to take appropriate action on foot of the report.

The Revenue Commissioners were active in pursuing tax issues arising from the Ansbacher and other tax evasion mechanisms. A recent High Court decision approved, in principle, an application by the Revenue Commissioners to obtain access to certain papers of the inspectors not included in their report. The practical implications of the decision have yet to be determined by the court. The Director of Corporate Enforcement has a similar application before the High Court but the proceedings were postponed pending the outcome of Revenue's application.