The former Taoiseach, Mr Albert Reynolds, is to be investigated by a Dail committee for allegedly breaching the Ethics in Public Office Act.
The Members' Interests Committee decided at a meeting yesterday to investigate a complaint that Mr Reynolds failed to declare his commercial involvement in four companies.
A Co Meath-based private investigator, Mr William Flynn, has alleged that Mr Reynolds breached Section 5 of the Act by neglecting to declare interests in Jersey-registered Universal Management Consultants; Laser Quantum Ltd; Provence Ltd; and Valemoor Projects.
Last month Mr Reynolds said his declarations to the TDs' register of interests were in order: "My duties to the committee are absolutely in order and will be seen to be such when investigated by the committee."
Mr Denis Foley, a Fianna Fail TD, was suspended from the Dail for 14 sitting days in May, for not declaring he had an Ansbacher account when he voted on an amendment to a motion to set up the Moriarty tribunal in ail in September 1997.
Mr Flynn has been retained by Derry builders O'Neill Brothers, who are involved in a legal dispute with Mr Reynolds over the funding of two construction projects, one in Derry and the other in Swords, Co Dublin.
Mr Reynolds was reported recently to be chairman of an Irish company, Life Energy, that intends to float on the Nasdaq this month. It has developed a thermochemical means of generating electricity from waste in association with a US company.