Breeda Moynihan-Cronin (Kerry South, Labour)
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Question 111: To ask the Minister for Enterprise, Trade and Employment the work which has been completed on the reform of the Companies Act 1990; the areas that are being examined; the priorities which his Department has for consolidation and reform; the number of people, in his Department, who are currently working full-time on this project; and if he will make a statement on the matter. [18208/06]

Micheál Martin (Cork South Central, Fianna Fail)
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The section which works on drafting the General Scheme of the Company Law Reform and Consolidation Bill has four full-time persons but the Company Law Division of my Department works in a collegiate way with a pooling of its expertise and experience. In the context of this Bill it is also relevant to mention the huge contribution made by members of the Company Law Review Group to ensuring that our companies code will be a model of good practice and efficiency and will enhance the competitiveness of Irish business.

The main strands of this initiative in better regulation are simplification, consolidation, and reform. The core reform element will place the private company as the standard company type and most of the reforms centre on the private company. The reforms to other types of companies are less but the principle of simplicity is pursued throughout and consolidation will itself deliver more transparency and accessibility. The detailed sectoral reforms proposed are outlined in the First and Second Reports of the Company Law Review Group. The Third substantive report of the Review Group, outlining progress in the project in 2004-2005 is being published and I anticipate laying it before the Oireachtas shortly. In addition, as the draft parts of the General Scheme of the Bill have been completed they are published on the website of the Company Law Review Group in a standing consultation with interested parties. I anticipate taking the General Scheme of the Bill to Government this Autumn for agreement to drafting of the Bill proper.