Martin Mansergh (Tipperary South, Fianna Fail)

Senator Doherty's amendment, as supported by Senator McFadden, provides in effect that the Oireachtas would approve and direct the nominee. By virtue of his or her legal status, the nominee would step into the shoes of, and act on behalf of, the Minister for Finance, who is accountable to the Oireachtas for his actions and the actions of his nominee. However, we do not govern by committee in this country. As the Minister cannot be trammelled in that manner, I cannot accept the Senator's amendment, unfortunately. I have seen no suggestion of corruption in the regulator's actions. It is not a suggestion that could be made without adequate evidence.