The director designate of Corporate Law Enforcement will formally take up office next month. He will replace the Tβnaiste in the role she plays regarding the Ansbacher and National Irish Bank inquiries.
The former senior civil servant from the Department of Enterprise, Trade and Employment, Mr Paul Appleby, will have a staff of about 10 when the office opens for business. Seven garda∅ are likely to be seconded to the new office within the next two months and a further 10 professional staff, currently being recruited, may be in place by the end of the year. The professionals being recruited are legal advisers, solicitors and accountants.
A number of inquiries being conducted by authorised officer Mr Gerry Ryan will not be moved to the new office and will remain in Ms Harney's department. Mr Ryan, an accountant within the Department, is not moving to the new office.
He is conducting inquiries into Celtic Helicopters and several companies linked to the Ansbacher deposits. But Ms Harney has said that when Mr Ryan's reports are completed they will be given to Mr Appleby who will decide what should happen next.
A decision is awaited from the Supreme Court on the appointment of an authorised officer to two companies within the Dunnes Stores group. Mr Appleby's office is expected to take on responsibility for evaluating and responding to the decision.
Company law prosecution cases being examined within the Department of Enterprise, Trade and Employment or on their way to the courts will be taken on by the new office, which will be based in Harcourt Street, Dublin.
The office will have powers to swop information with the Garda, the Revenue and the Competition Authority. Further functions will be conferred on the office in early 2002 Minister of State for Science, Technology and Commerce, Mr Noel Treacy, said the Office of the Director of Corporate Enforcement would "considerably enhance the quality of day-to-day corporate governance here, and is a constructive and evenly balanced approach to issues presented in recent company law inquiries, tribunals, and indeed the 1999 Public Accounts Committee examination into the operations of DIRT".
Mr Treacy was speaking at the publication of the Companies Report for 2000 which shows that during 2000 the number of new companies incorporated was 18,840, an increase of 1.1 per cent on 1999.
The report incorporates the report of the Registrar of Companies. Mr Treacy noted the "considerable stepping up in enforcement activity during 2000".
During 2000 92 per cent of companies filed a return, in contrast to 57 per cent during 1999. The number of directors restricted by the courts at the year's end was 113.
Also during 2000 the Company Law Enforcement Bill was published, legislation to tackle the problem of Irish Registered Non Resident companies came into force, and the disclosure of directors' remuneration for plcs became obligatory.
Copies of the report are available from the Government Publications Sales Office, Molesworth Street, Dublin.
