Oireachtas Joint and Select Committees

Thursday, 20 December 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

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

11:45 am

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

The kernel of it is whether the public interest directors support Mr. Boucher's position. The personal insolvency legislation is where the public interest and the interests of the bank are in conflict. The whole point of the public interest directorships is to act, as compelled by legislation, in the public interest where there is a conflict with the interests of the bank. Mr. Boucher's position is contrary to the spirit of the personal insolvency legislation. Therefore, the public interest in this case is defined by the Government.

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