Brian O'Shea (Waterford, Labour)
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Question 49: To ask the Minister for Enterprise, Trade and Employment the position in regard to each of the inquiries being carried out by or on behalf of his Department; the projected date for the conclusion of each such investigation; the inquiries in respect of which reports have been referred to the Director of Public Prosecutions; and if he will make a statement on the matter. [11276/06]

Micheál Martin (Cork South Central, Fianna Fail)
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Sixteen investigations into company law matters were initiated by my predecessor in the period since 1997. In three cases, the High Court appointed, on an application by the Minister, 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 and was referred to the DPP.

The inspectors appointed to National Irish Bank Limited and National Irish Bank Financial Services Limited presented their report to the High Court on 12 July 2004. The report was subsequently published. The court ordered that a copy of the report be referred to several relevant authorities, including the DPP. In 2005, the Director of Corporate Enforcement initiated proceedings in the High Court under section 160(2) of the Companies Act 1990, as amended, seeking the disqualification of nine persons against whom adverse comment was made by the inspectors. I note that last October the High Court granted a disqualification order against one of the nine persons. The proceedings against the other eight remain before the court.

One investigation under section 14 of the Companies Act 1990 was completed in 1998. The report on this was referred to the DPP. One investigation was undertaken under section 59 of the Insurance Act 1989. The report on this was referred to the DPP as well as to the inspectors who undertook the section 8 investigation into that company.

Eleven investigations were initiated by the Minister under section 19 of the Companies Act 1990, six of which have been concluded. Of the six investigations completed, reports were referred to the DPP in two cases. A number of 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.

Two of the 11 section 19 investigations were held up in legal appeals, to such extent that no effective progress was made by the authorised officer and the matter of reports of the examinations did not arise. These inquiries are now the responsibility of the Director of Corporate Enforcement. Regarding the three remaining section 19 examinations, I refer the Deputy to my reply to Question No. 66 today.