Gerard Murphy (Cork North West, Fine Gael)
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Question 172: To ask the Minister for Enterprise, Trade and Employment if he will report on the findings of the investigation of the company law review group; and if he will make a statement on the matter. [4405/05]

Michael Ahern (Cork East, Fianna Fail)
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The company law review group is a standing advisory group of experts whose task is to develop proposals for the review and reform of company law. These experts are drawn from all stakeholders in the area. The first report of the review group in 2002 mapped out a strategy for the simplification, restructuring, modernisation and consolidation of company law in Ireland. In July 2002, the Government approved the recommendations in that report and drafting of the general scheme of a Bill to give effect to the recommendations of the review group has been in train since.

A further report of the review group, expanding on some of its earlier recommendations and considering in detail a number of specific areas of company law such as liquidations, followed in 2004. These recommendations will also be incorporated in the general scheme currently being drafted. The expectation is that the general scheme should come to Government for approval later this year. Drafting of the heads of the general scheme has been an inclusive project throughout, with the expertise of the review group assisting the Department in that task on an ongoing basis. The review group will be assigned a new two yearly programme of issues for consideration in January 2006.