Frances Fitzgerald (Fine Gael)

There has clearly been much concern about the governance of banks about which many Members in the Dáil and Seanad have spoken. The purpose of this amendment is to ensure an outside person is appointed to the risk management committee and the main company board of each financial institution that receives financial support.

The Minister may have seen the Fine Gael Public Appointments Transparency Bill 2008 which was published during the week. This Bill provides that the chairpersons or chief executive officers of statutory agencies or public bodies would appear before the relevant Oireachtas committee to answer questions relating to their experience or qualification for that role. The recommendation would be made to the Minister who could confirm the nomination to the Dáil.

This amendment takes into account the concerns expressed by many people and sets a formula for appointing suitably qualified persons to a variety of positions in the banks to ensure oversight. I am interested to hear the Minister's views on whether this should be in the Bill at this point.