Mr. Raymond Byrne:

We looked at that and there is no doubt that in many of the areas that previously led to prosecutions all the agencies - the Central Bank, the ODCE and An Garda Síochána when looking at very serious issues - have been involved in all those activities. One of the aspects looked at by the commission was to what extent we could have an umbrella organisation that would bring together under one roof the expertise necessary to investigate serious corporate crime, particularly that which falls outside the scope of the important powers of regulators such as the Central Bank and the Competition and Consumer Protection Commission.

Having consulted them, we know that they recognise that their powers are focused on particular areas, that perhaps there is a need for an entity to bring together all investigative powers and forensic analysis under the one roof and to complement the activities in which the various organisations are engaged. In a similar way, before the Criminal Assets Bureau was established, different entities examined issues related to the proceeds of crime. However, the establishment of a single entity, with a multi-disciplinary group with one focus, has made an enormous difference. It is certainly much better than the sum of its parts. That was the analysis the commission applied when making the recommendation.