Enda Kenny (Mayo, Fine Gael) | Oireachtas source

I propose to take Questions Nos. 3 and 4 together.

The IBRC commission was established on 16 June 2015 under the Commission of Investigation (Irish Bank Resolution Corporation) Order 2015. Mr. Justice Brian Cregan, a judge of the High Court, is the commission's sole member. The timeframe for the final report on the first module of its work, on the Siteserv transaction, is the end of December 2017.

Up until the end of January 2017, the commission had spent €1.555 million. As outlined in the commission's interim report, it does not reflect third party costs which may arise for payment in due course. The commission has tentatively indicated an approximate cost in excess of €10 million for its investigation into the Siteserv transaction. This assessment was shared with the Opposition leaders when I consulted them, but their strong view was that the investigation should proceed. The estimate does not take account of the cost and time impact of any legal challenges which may be taken. The commission is independent in the performance of its functions and it would not be appropriate for me to comment on any aspects of its work.

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