Regina Doherty (Meath East, Fine Gael) | Oireachtas source

The decision to restructure MABS was made by the board of the CIB. I think the CIB declined the invitation because the Chairperson and chief executive officer had already met the committee at a meeting in February where they felt the matter was comprehensively discussed. They set out their position clearly, including the rationale for the decision and the details of the lengthy consultation process that took place before the board made its final decision. Deputy O'Dea may have a different opinion on all of that but he is aware that the CIB's executive, on foot of a request from the joint Oireachtas committee, agreed to commission a cost, benefit analysis. It has done that and submitted it to the committee at the end of September.

The implementation of the new governance arrangements is expected to take up to two years to complete. Obviously we will have the few bob of the net cost to the Exchequer that will present itself over the next number of years. I think I am correct in saying that since the declining of the first invitation, after the cost, benefit analysis was submitted, the joint Oireachtas committee has issued another request for the CIB to come before it. I am not 100% sure on that as I am only recalling a conversation I had with somebody. I think that request is under consideration. I will check that and come back to the Deputy on it.

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