In his reply the Minister stated that the provisions of the Companies (No. 2) Bill would also apply to those directors who wish to start up again in similar businesses. Would the Minister agree that there is a need to go after these directors, particularly as it is smaller companies who are being hit? Is the Minister taking cognisance of the fact under the new Companies Bill that there is a need to address this problem as much as the overall picture? Has the Minister any plans in that area?

The problem which has been referred to by the Deputy is very complex. This Bill runs to about 200 sections and deals with the serious problem of fly-by-night directors who open up new businesses. There are those who say we have gone overboard in this Bill in stamping out this abuse and claim that we are in some way damaging and stifling enterprise. A delicate balance needs to be struck but our objective is to stamp out that abuse. It has given business a bad name, has put small firms out of business, has deprived the Exchequer of moneys due and has led to increased tax for everybody else. This is an abuse which has to be stamped out and by doing so, from a business point of view, it will restore the good name of business.