Ned O'Keeffe (Cork East, Fianna Fail)

Will banks be able to choose from the 20 board members? Will each bank have the right to choose or will the Minister nominate those two? Could two people resign voluntarily from the bank's board, or why will the Minister not remove them? The system as envisaged would make boards unwieldly. They have quite a few jackasses on those boards who may have to be removed.

Paragraph 32 states:

The covered institution shall remunerate those non-executive directors. The Minister will also have the right to appoint persons to observe all meetings of the remuneration, audit, credit and risk committees of a covered institution.

Will there be another panel to go into these risk, remuneration and audit committees? This is the nub of the problem in all boards which have sub-committees. They are set up because they are someone's friends who do not have any responsibility. They only look for arse-lickers. I am quite clear on that. That is the bottom line.

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