Oireachtas Joint and Select Committees

Thursday, 27 February 2014

Public Accounts Committee

Payments to Section 39 Companies: Discussion

3:10 pm

Ms Angela Kerins:

We can get the memorandum and articles of association if committee members do not have them. The members are the board. Board members have terms of office. There was a corporate governance review a number of years ago. Board members can only do three terms of three years and then they must leave. There is a nominations committee of the board and it has criteria for membership selection. They seek out people who are suitable. I am talking about a number of things related to the skills base, geography and many other criteria. The committee makes recommendations to the board regarding people to be proposed. There is also an audit committee, a remuneration committee and a best practice committee. Our annual report refers to these matters. There are governed by the memorandum and articles of association, which we can supply to members.

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