Oireachtas Joint and Select Committees

Wednesday, 19 December 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB

4:20 pm

Photo of Stephen DonnellyStephen Donnelly (Wicklow, Independent) | Oireachtas source

That is clear. If there was no difference between public interest and non-public interest directors, there would be no need for this provision. There is specific legislation dealing with the delegates' role which is unique in response to the crisis. I find it extraordinary that they say there is no legal difference between their role and that of directors. There is a difference. There is legislation which specifically addresses the differences in terms of the role of public interest directors and which critically gives them the authority to over-ride their other responsibilities in the public interest. That is what the Act states.

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