Paul Coghlan (Fine Gael) | Oireachtas source

I only need a minute as I must attend in the Seanad. The core issues have been raised by the Chairman and Deputy Michael McGrath and answered by Mr. MacSharry and Ms Hayes, who I welcome to the joint committee and thank for their outline submissions. All directors are equally bound by company law and corporate governance requirements. Both witnesses explained themselves as non-executive directors as opposed to public interest directors. They explained that they rule by consensus and it could be said their loyalty is to the board. They have been captured by the prevailing culture of the institution. There is no difference between one director and another. There is no distinguishing requirement. Perhaps there is a flaw. Everyone has asserted they are new appointments since the downfall. I do not mean this disrespectfully but a large segment of the public sees the public interest directors as being about as useful as paps on a bull. That is the situation, being honest. I hand over to Deputy O'Donnell.