The Government has published a package of corporate law measures aimed at more effectively combating white collar crime.

The measures include a new anti-corruption bill, and making the office of the Director of Corporate Enforcement an independent agency.

Three departments - Justice, Finance, and Business, Enterprise and Innovation - have come together to produce a package of 28 actions to tackle corporate, economic and regulatory offences.

All the plans to change the law are accompanied by a timetable for getting changes onto the statute books.

One of the biggest changes is a Government decision to establish the Office of the Director of Corporate Enforcement as an independent agency on a statutory basis to enforce company law.

The Government favours a commission-type structure for a more robust policing of the 2014 Companies Act.

It also plans to test the concept of a garda-led joint agency task force to investigate white collar crime.

It will start with a clampdown on payment fraud, which has a particularly damaging impact on small and medium-sized businesses.

There will be a new bill to consolidate anti-corruption legislation and give legal effect to recommendations from the Mahon Tribunal.

This will include creating new offences, such as trading in influence, and using confidential information to corruptly obtain an advantage.

The Institute of Directors in Ireland (IoD) has welcomed the Government's move.

Chief Executive of the IoD in Ireland Maura Quinn said: "The decision to put the ODCE on a statutory and independent footing to enforce company law is to be welcomed.

"However, it is imperative that the agency is appropriately structured and given sufficient resources to effectively deliver on its objectives."

However, the leader of the Green Party, Eamon Ryan, said he was "nervous" about the measures as "it's optics, another body, another quango".

"Will it actually change the judicial system?" he asked.

He said that he was afraid there may to be too many quangos and the system was too complicated.