Michael Noonan (Limerick City, Fine Gael)

He is well fit to be a member of the board. Have I called in public interest directors and talked to them separately? No, because it would be inappropriate for me to do so. They do not report to the Minister for Finance or to the Department of Finance. Their responsibility under company law is to the institution on whose board they serve. I work with these covered institutions through the chairpersons of the boards and that is my point of contact. If I want to see the board or individual directors, I will meet the board in its totality. I will not pick out individual directors and call them in for some kind of reprimand when I do not have a legal leg on which to stand to make any suggestion to them whatsoever.

I believe it is inappropriate to go after individuals. We do not know what position the former Deputy, Mr. Spring, or any other director took on any particular issue at the board. The Deputy should be careful not to make statements even under privilege of the House unless he is sure of the position.

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