Emmet Stagg (Kildare North, Labour)
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Question 36: To ask the Tánaiste and Minister for Enterprise, Trade and Employment the total costs incurred by the State, at the latest date for which figures are available, arising from the various inquiries instigated by or on behalf of her Department; the element of those costs that have been recovered from any of the other parties involved; and if she will make a statement on the matter. [18091/04]

Joe Sherlock (Cork East, Labour)
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Question 58: To ask the Tánaiste and Minister for Enterprise, Trade and Employment the position in regard to each of the inquiries being carried out by or on behalf of her Department; the projected date for the conclusion of each such investigation; the inquiries in respect of which reports have been referred to the DPP; and if she will make a statement on the matter. [18090/04]

Michael Ahern (Cork East, Fianna Fail)
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I propose to take Questions Nos. 36 and 58 together.

Sixteen investigations into company law matters have been initiated by me since I first came into office as Minister for Enterprise, Trade and Employment.

In three cases, the High Court appointed, on an application by me, inspectors under section 8 of the Companies Act 1990. The inspectors appointed to Ansbacher (Cayman) Limited presented their report to the High Court on 10 June 2002. The report was subsequently published. The report has been passed to the Director of Public Prosecutions. Section 8 inquiries into the affairs of National Irish Bank Limited and National Irish Bank Financial Services Limited are continuing. I understand that the final report of the inspectors is expected to be presented to the High Court on or before 31 July 2004.

One investigation under section 14 of the Companies Act 1990 was completed in 1998. The report on that has been passed to the DPP.

Eleven investigations were initiated by me under section 19 of the Companies Act 1990. Six of those have been concluded. Of the six investigations completed, two of the reports were passed to the DPP. Several summary prosecutions have since been successfully concluded in one case. One report provided an input into the successful application to the High Court for the appointment of inspectors under section 8, while the fourth report was passed to the relevant High Court inspectors. One report was completed in September 2002, and a further report was completed in March 2003. Both reports have been referred to the Director of Corporate Enforcement.

Three investigations under section 19 are ongoing. The authorised officer has recently indicated to me that he is now unlikely to meet his previous estimate of mid-2004 for completion of reports on those investigations. I am not in a position at this stage to say when the authorised officer is likely to have completed his work.

Two investigations were held up by legal appeals. Those inquiries are now the responsibility of the Director of Corporate Enforcement.

One investigation was undertaken under section 59 of the Insurance Act 1989. The report on that has been referred to the DPP as well as to the inspectors undertaking the section 8 investigation into that company.

The costs incurred since 1997 through company investigations initiated by or on behalf of my Department currently amount to approximately €10.5 million. That amount does not include the salary costs of Civil Service staff working on several of those investigations or the legal costs which are primarily being borne by the Vote of the Chief State Solicitor. Most of that €10.5 million derives from the costs to date of the High Court inspectors appointed under section 8; €5.5 million in the case of National Irish Bank Limited and National Irish Bank Financial Services Limited, and €3.5 million in the case of Ansbacher (Cayman) Limited.

The question of recovering costs from the section 8 investigations does not arise until such time as the inspectors complete their investigations. In the case of the Ansbacher inquiry, the High Court proceedings taken by the State to recover the costs of the inquiry were settled out of court for the sum of €1.25 million in favour of the State. Section 19 as originally enacted did not provide for the recoupment of costs. That has now changed by the enactment of the Company Law Enforcement Act 2001.