Oireachtas Joint and Select Committees

Thursday, 30 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Alan Dukes:

Yes, a briefing was organised in the Department of Finance for Frank Daly and myself with a couple of officials from the Department and a couple of legal advisers, who spoke to us about the normal duties of a director of a company. And then they, kind of, super-posited on that of the duties of a director of a bank. And when I asked what the specific duties of a public interest director were, the conversation got a bit abstract and ... and vague, and quickly came back to the point of saying that, yes, you had a duty to the company and, yes, you had a duty to the shareholder and, yes, you had a duty of care to the employees of the company and you still had to bear the public interest in mind. But where all these things met was never clear.

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