Oireachtas Joint and Select Committees

Thursday, 6 April 2017

Public Accounts Committee

2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014

9:00 am

Photo of David CullinaneDavid Cullinane (Waterford, Sinn Fein) | Oireachtas source

Exactly.

A paragraph in the institute's policy states that members of the commercialisation committee who are or could reasonably be perceived to be in a conflict of interest situation with respect to any matter before the committee should excuse themselves from all involvement with the committee in such matters. It also states that any individual who is related to, reports to or is a business partner of someone who would be considered to have a conflict of interest with respect to a specific matter may themselves have a conflict of interest.

Professor Donnelly had a business relationship with two individuals I named earlier, one of whom is Barry Downes. Professor Donnelly was a shareholder in multiple companies with this individual. This individual also has a shareholding in other companies that are co-located in the institute. How was Professor Donnelly effectively able to do his job as head of research and innovation on the one hand and as a member of the commercialisation committee given his involvement in multiple companies as a shareholder and also his business partners' shareholdings in multiple companies? Was there not a matrix of conflicts of interest that was almost impossible to manage?

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