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29/07/2003
Company legal powers to get revamp
The Department of Enterprise, Trade and Investment’s (DETI) Corporate Regulation Branch has launched a consultation document containing proposals aimed at modernising and simplifying legal powers in relation to company investigations.
The proposed changes are intended to ensure that powers are sufficient to meet the likes of changing commercial and employment practices, technological change and new data handling practices. The changes should also provide a simplification of the law.
Rosaleen McMullan, Head of Corporate Regulation said: “Company investigations have a valuable function in upholding standards of conduct of limited liability companies and in helping to counter crime and other wrong doing. This reinforces the positive environment that makes Northern Ireland an excellent place to conduct business.
“The legislation will help maintain Northern Ireland’s position in the market and ensure that our companies are in line with their GB counterparts.”
The opportunity to amend the powers available exists as part of advanced legislation to modernise Company Law.
(MB)
The proposed changes are intended to ensure that powers are sufficient to meet the likes of changing commercial and employment practices, technological change and new data handling practices. The changes should also provide a simplification of the law.
Rosaleen McMullan, Head of Corporate Regulation said: “Company investigations have a valuable function in upholding standards of conduct of limited liability companies and in helping to counter crime and other wrong doing. This reinforces the positive environment that makes Northern Ireland an excellent place to conduct business.
“The legislation will help maintain Northern Ireland’s position in the market and ensure that our companies are in line with their GB counterparts.”
The opportunity to amend the powers available exists as part of advanced legislation to modernise Company Law.
(MB)
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