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

4:50 pm

Mr. Ray MacSharry:

I think it is 0.8%. The fact of the matter is that for four of those elections the State was not a 99.2% owner. It is only the last time when the Minister asked us. In fact, our term was up last year and we expected to be leaving after three years. Yet we were asked to stay on and were elected, including by the vote of the shareholder - i.e. the State and the Minister. Prior to that on the other three occasions we did not have the Minister as a shareholder.

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