Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

On 2 March, AIB reached an agreement to acquire Goodbody stockbrokers for a sum of €138 million. The Minister will remember that in 2010, AIB sold the same entity, that is, Goodbody, for €24 million. Under the State agreement with the bank, AIB not only had to consult the Minister regarding the acquisition of Goodbody, but crucially it required the Minister's consent to put pay packages in place that circumvent the bankers' bonus levy, which is a levy that is passed in law by these Houses. Will the Minister clarify how he reached the decision? Why did he judge it appropriate? How does it comply with section 531AAD of the Act?

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