Brian Lenihan Jnr (Dublin West, Fianna Fail)

Questions were asked about the date of resumption of Dáil Éireann after the summer recess and any arrangements that might be required with regard to the guarantee of banking liabilities. The Government has made no decision on an appropriate date for the resumption of the Dáil, but it will of course make a decision before the Dáil rises.

With regard to the bank guarantee, what I said was that I do not anticipate that any legislation will be required. Discussions with the European Commission are at an advanced stage and if a statutory instrument is required, one will be adopted. My understanding is that were such a statutory instrument necessary, it would require approval in the Houses and the necessary approval will be sought. However, that matter has not been finalised with the European Commission at this stage.

With regard to the promised legislation on the directors of financial institutions, that matter will be dealt with in the next Central Bank Bill, which will be published later this year.

In regard to the other matter, it is important to stress that the Minister of State in question made it clear that he was speaking in a jocose sense.

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