Brian Lenihan Jnr (Dublin West, Fianna Fail)

I dealt with that matter earlier. The decision, therefore, was not an incorporeal decision of the Cabinet. It was a full decision of the Government but, naturally, the Taoiseach was kept apprised of developments in the matter up to the time of the Cabinet meeting.

In regard to the suggestion of criminal activity, I was speaking in regard to corporate malpractice generally in Anglo Irish Bank, not specifically in regard to this particular transaction. Even at this stage I have no evidence before me of any suggestion of criminal culpability in regard to this transaction. In regard to the loan transactions, I have no evidence, even at this point, that there was criminal activity disclosed in that regard.

In regard to the acquisition of shares by a bank where the acquisition is financed by the institution — by the company itself — otherwise than lawfully, and there are circumstances where it can happen lawfully, then clearly, were that to have happened, there could be an issue of criminal liability. I want to put on the record of the House that I am not suggesting there is any information to hand at this stage that suggests criminal activity in regard to this transaction. However, I reassured the House in response to the question put by Deputy Ó Caoláin that if criminal conduct is disclosed, it is dealt with and I outlined the machinery for dealing with it.

In regard to the report by PricewaterhouseCoopers, Deputy Kenny will be aware, having served as a Minister, that officials brief Ministers extensively on reports. I was briefed extensively by my officials on the PricewaterhouseCoopers report, not just on one occasion but on several occasions before meeting various institutions, including this institution.

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