Martin Mansergh (Tipperary South, Fianna Fail)

To introduce such changes a degree of consensus would be required among employers. If the Senator has any doubt about my view on this matter he is welcome to ask the employer organisations. They would be adamantly opposed to a system of worker directors. Inward investing companies and multinationals would also object. There is no culture of worker directors in the United States and they would be opposed to that.

The Minister has the right to appoint observers to observe the meetings of the remuneration, audit, credit and risk committees of the institutions covered by the scheme who may attend all meetings and have access to all relevant committee papers and information without prejudice to anything in the articles of association of the relevant institution. This will facilitate ensuring compliance with the remuneration, corporate governance and regulation of commercial conduct under the requirements of the scheme.

I thank you, a Chathaoirligh, for your forbearance. I have tried to the best of my ability to answer the points raised in the course of the debate.