Ahern reviews Companies Act

Taoiseach Bertie Ahern has announced a review of the provision relating to Directors' Compliance Statements contained in the Companies Act, 2003.

The review will be carried out by the Company Law Review Group and is to be completed by July of this year.

The Taoiseach said "I have asked for a Regulatory Impact Analysis to be carried out, so that there is a full understanding on the part of Government, business and professionals, of the likely cost burden to be imposed."

The Taoiseach added: "I know that the business community want an appropriate lead-in time to enforcement of the provisions and I know Minister (Michael) Ahern is open to this and that work is ongoing in terms of detailed guidance."

He was speaking at the Institute of Certified Public Accountants in Ireland this evening.