Mr. Ray MacSharry:

To clarify, I will quote from a reply given by the late Brian Lenihan on 16 December 2010: "Public interest directors, though nominated by me, have been appointed by the boards of the various covered institutions. Details of individual public interest directors, including remuneration, are published in the annual reports. The general rule is that directors, including non-executive directors, owe their duties to the company." Therefore, we operate by company law. The Minister further said: "The interests of the company are paramount. Public interest directors bring, in addition to other experiences...," and so on, as stated by Ms Hayes.