Mary White (Fianna Fail)

In regard to the five year period, there seems to have been some confusion among those who drew up the legislation. Perhaps they were thinking of semi-State bodies. If someone was employed by a semi-State body and they became a director, they could have information which could give them power. In a private company, it could be imperative that an ex-employee become a director as soon as possible if the occasion arose. The five year requirement is extreme. There is no reason that a director should not also be chairperson of the audit committee. As stated this morning, companies in the private sector only survive as long as they have sales and can sustain jobs for management and staff. Everything should be done to enable companies to have those with the best expertise as directors. There is confusion in regard to the companies from which people come.