A decision will be made "shortly" about whether to refer to the Director of Public Prosecutions the investigation into Garuda, the company of the former minister, Mr Michael Lowry.

The Tanaiste and Minister for Enterprise, Trade and Employment, Ms Harney, said a decision would also be taken soon on whether to refer the inquiry into Faxhill Homes Ltd to the DPP. This was the company which built the £390,000 extension to Mr Lowry's home in Co Tipperary.

During Question Time the Tanaiste told Fine Gael's deputy leader, Mrs Nora Owen, that six companies were currently under investigation by the Department, while an authorised officer had been appointed to a further three firms.

Ms Harney said that reports on investigations into five other companies had been completed, and of those, the reports on Bula Resources (Holdings) plc and National Irish Bank had been referred to the DPP who had, in turn, referred them to the Garda.

The books and documents of Ansbacher (Cayman) Ltd, Celtic Helicopters Ltd, Guinness & Mahon (Ireland) Ltd, Hamilton Ross Co Ltd, Irish Intercontinental Bank Ltd and Kentford Securities Ltd were being examined by the Department.

The three companies to which the Minister appointed an authorised officer were Dunnes Stores Ireland, Dunnes Stores (ILAC Centre) Ltd and College Trustees Ltd, a Guernsey-registered company.

Ms Harney said she was waiting for the outcome of a High Court judicial review of her decision to appoint an officer to the two Dunnes Stores companies. The companies' books and documents from these companies had yet to be supplied.

The Department was also examining the report on Irish Life plc. She said the inquiries into National Irish Bank and National Irish Bank Financial Services were initiated at her request under the Companies Act, and were now proceeding under the auspices of the High Court.

Mrs Owen asked if the Tanaiste would take action against people referred to as a "golden circle of swindlers" and asked why a number of the inquiries had been ongoing for at least a year, "an excessively long time".

Ms Harney said it was disappointing that the inquiries were taking so long but that was not due to a lack of effort on the Department's part.

"We have been the subject of efforts by lawyers operating on behalf of some of the people and companies being investigated," she said.