Conor Lenihan (Dublin South West, Fianna Fail)

There is a reference in the Bill to an obligation on the chief executive to exercise his or her role in respect of the "economy and efficiency" of the IFI. These words are more old fashioned than the phrase "value for money" that has recently been more popular. The integrity of public bodies and institutions such as the Houses is very much guided by the culture of the organisation concerned; therefore, it is possible to prescribe these matters in legislation. In regard to the Enron scandal, highly educated individuals managed to run a coach and four through the rules precisely because there was overprescription in guidelines to a point where intelligent people were motivated to find loopholes in them. Much depends on the culture of and the leadership shown in an organisation.