Tánaiste Ms Mary Harney formally established the Office of the Director of Corporate Enforcement (ODCE) today.
The new director of corporate enforcement is Mr Paul Appleby, a senior civil servant in charge of the company law division at the Department of Enterprise, Trade & Employment.
His mandate is to improve the level of compliance with the requirements of the Companies Acts and to bring to account all those who disregard the law.
Speaking at the announcement of Mr Appleby's appointment, Ms Harney said: "The establishment of the Office of the Director of Corporate Enforcement is sending a clear message. That message is that the Government no longer tolerates those who are guilty of corporate crime and malpractice in Ireland".
Mr Appleby's role will include enforcing and encouraging compliance with the Companies Acts, investigating suspected offences under the acts and making summary prosecutions. The director will also have a general supervisory role in respect of liquidators and receivers.
Mr Appleby spoke of his belief that there was insufficient awareness of the obligations which company law imposes.
He also referred to the ODCE website, which is being developed as a platform for communication and information on company law.