Oireachtas Joint and Select Committees
Tuesday, 9 April 2019
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
With the indulgence of the Chairman, I have a final question. I started by raising the issue of provisioning for the fine that will be issued from the Central Bank of Ireland and it is only a matter of time before that happens. The fine can be €10 million prior to 2015 and 10% of turnover from that period on, so we will see what the figure will be. Those in the Central Bank have been talking to us about individual accountability and examining those matters. An individual within PTSB could be fined up to €1 million, if they are found to be subject to it and we have to allow the investigation to proceed. Is the bank underwriting any individual who will be fined by the Central Bank? Will the individual have to personally pay the fine or would it be paid by the bank?
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