4th December 2018 |
This document outlines the Heads of the General Scheme of the Companies (Corporate Enforcement Authority) Bill 2018 accompanied by a Regulatory Impact Assessment.
The Government adopted a package of “measures to enhance Ireland’s Corporate, Economic and Regulatory Framework” on 2 October 2017. One of those measures was to establish the Office of the Director of Corporate Enforcement (the ODCE) as an agency, in the form of a commission, as opposed to its current structure as an Office within the Department of Business, Enterprise and Innovation. The intention is to build on the organisational and procedural reforms that have been implemented by the Director of Corporate Enforcement since 2012 and to provide the organisation with more autonomy and flexibility to adapt to the challenges it faces in its investigation and prosecution of increasingly complex breaches of company law, including the ability to recruit the required skills and expertise.
The purpose of this Bill is to give effect to that decision by Government by establishing the Corporate Enforcement Authority with a commission structure, to be called the Corporate Enforcement Authority.
Commerce, Consumer and Competition