Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

In the context of the board example used by the Deputy, the role of controlled functions is so broad that it is impossible to see how somebody could be on a board and not be captured by the definitions here. In particular, I refer to the definition of PCF-2, which simply refers to non-executive directors. It is also open to the Central Bank to expand the roles here if it so wishes where it believes that the lacuna to which Deputy Doherty refers is actually there or that we have missed a sensitive role in these definitions. Having engaged with the Central Bank, we are of the view that the list of roles here is so broad that it captures any roles that could be objectively described as being senior within an organisation. That is why we included non-executive directors within the definition. We wanted to avoid a situation where somebody is on a board but is not subject to this legislation.