Authorised officers investigating allegations of corporate fraud will be able to disclose information to foreign jurisdictions under proposals drafted by the Department of Enterprise, Trade and Employment.

Under the law as it stands, information gathered by authorised officers - such as the officers currently inquiring into the Ansbacher deposits, Celtic Helicopters and Garuda Ltd - may only be disclosed to "competent authorities" listed in the Companies Act 1990.

These authorities include the Minister for Enterprise, Trade and Employment, the Minister for Finance or an officer appointed by him, the Central Bank and the Irish courts.

The list may now be changed to include foreign courts as well as an officer of the Revenue Commissioners and recognised accountancy bodies.

The changes are among a number of amendments being considered by the department which would add significantly to the powers available for the enforcement of company law.

The proposals are arising out of the experience gained from using powers of investigation first introduced in the 1990 Companies Act.

The company law administration section of the department has proposed that the Minister be enabled to apply to the High Court seeking orders to restrict or disqualify persons from acting as company directors.

Currently, sections 150 and 160 of the Companies Act 1990 provide for the prevention of persons acting as company directors where they have been shown to have acted dishonestly.

The section has also proposed that it be made possible to seize a company's books in circumstances where they might be used in prosecutions for breaches of company law.

The Stock Exchange has proposed the expansion of the powers of authorised officers of the Stock Exchange, appointed under Part V of the Companies Act 1990.

The Garda Bureau of Fraud Investigation has proposed to the department that the law be changed so "a liquidator would contact either the DPP's office or An Garda Siochana immediately any suspicion of criminal wrongdoing comes to light in the course of a liquidation". The Garda bureau is understood to be concerned at the difficulties which can be caused by lengthy delays in their being informed of alleged offences.

A similar recommendation from the Government Advisory Committee on Fraud, which reported a number of years ago, suggested examiners should be licensed and bonded.