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Dáil

Ceisteanna—Questions. Oral Answers. - Companies Acts Returns.

asked the Minister for Industry and Commerce whether all the following companies (1) Industrial Engineering Limited (2) Heinkel Cabin Scooters Limited (3) Dundalk Engineering Works Limited (4) Commercial Road Vehicles Limited (5) Frank Bonser and Company Limited and (6) Dealgan Steel Foundry Limited have filed all the returns requisite under the Companies Acts; if not, which of these are in default; in what respect and for how long; and what action he proposes to take in reference thereto.

Comment on this

The companies referred to have defaulted in the matter of the filling of the annual returns for 1960, which are required under Section 26 of the Companies (Consolidation) Act, 1908 and which, I understand, became due on 21st January, 1961. Steps to secure compliance with the provisions of this Section are being taken by the Registrar of Companies.

There are also obligations on companies, generally, to file with the Registrar copies of Resolutions and other documents. There is no evidence available to me, however, that the companies in question have defaulted in these matters.

Comment on this

Would the Minister say when the companies in question cleared their 1959 responsibilities?

Comment on this

On 18th and 21st February of this year.

Comment on this

Since the question was put down, in other words?

Comment on this

I cannot say exactly when the question was put down. The Deputy will appreciate that my mind was directed to that necessity long before the question was put down.

Comment on this

I do not blame the Minister at all but does he not agree that a group of companies which have received more than £1,500,000 of the taxpayers' money might have more regard for their liabilities under the Companies Acts?

Comment on this

It is an oversimplification to say that they received over £1,500,000 of the taxpayers' money. The Industrial Credit Company advanced these moneys to them in the ordinary way.

Comment on this

Public moneys, then. Does the Minister not agree that a group of companies which have received over £1,500,000 of public moneys should have regard to their duties and obligations under the Companies Acts?

Comment on this

I am very conscious of their duties and I am advising the companies to have due regard to their obligations.

Comment on this

Can the Minister give any idea as to what the reason may be for such a default? Possibly there is a good explanation.

Comment on this

The Taoiseach would know that.

Comment on this

That would be a matter for the Registrar of Companies.

Comment on this