Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The ministerial position is in accordance with the Act, the power to issue directives on big picture issues but also to be specifically excluded from any sort of involvement, benign or otherwise, in commercial decisions. The Department assists the Minister but does most of the relationship work with NAMA and advises me on the issues which are within my remit.

On the commission of inquiry which the Government has decided to set up, this has resulted from discussions between the party leaders and the Taoiseach and the Government has decided in principle to have such an inquiry. I have not been involved in the discussions for two reasons, I was not at the first Cabinet meeting where this was decided and I am going to be within the terms of reference of any foreseeable inquiry and as a consequence I assume that I will have to give evidence to the inquiry as I am giving evidence to the committee today. It would be inappropriate for me to be an architect of the inquiry before which I might have to appear. I do not have specific details.