Dara Calleary (Mayo, Fianna Fail)
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The Corporate Enforcement Authority (CEA) was established on 7th July 2022 under the Companies (Corporate Enforcement Authority) Act 2021. The Act carried over to the Authority, both the functions and the range of powers of the Office of the Director of Corporate Enforcement (ODCE).

The Authority is therefore equipped with significant enforcement powers required to carry out its statutory functions; to enforce and encourage compliance with company law, to investigate suspected offences under the Companies Acts, to prosecute detected breaches of the Companies Act and to refer cases to the Director of Public Prosecutions on indictment.

Certain professionals, e.g., auditors, examiners and receivers, are required by law to make reports to the CEA under certain circumstances. Certain professional bodies have similar obligations. In addition, every liquidator appointed to an insolvent company has certain reporting obligations to the CEA. Members of the public may also submit complaints and concern to the CEA where there are indications of non-compliance with company law.

Section 944D (4) of the Companies Act 2014 provides that the CEA shall be independent in the performance of its functions. The purpose of this provision is to ensure that the law is enforced without the possibility of interference from any party or the appearance of any such interference.

Therefore, I as Minister have no function in such matters and do not have any power to intervene in any action or decision taken by the Authority in relation to its statutory functions as this would conflict with the statutory framework which was created to ensure the Authority’s independence.