Paschal Donohoe (Fine Gael)

Having read a substantial amount of commentary on the Bill and the record of the debate in the other House, it is clear that some of the powers provided for in section 13 have given rise to considerable discussion. The extraordinary innovation in the Bill is the introduction of the concept of special manager, a person who may be appointed to a bank and, on behalf of the Minister, exercise the wide-ranging powers conferred by the legislation. A special manager will have extensive powers which will influence the destiny of the financial institution to which he or she is appointed. What will be the relationship between a special manager and the Minister? Will he or she report to the Minister? How will the relationship work?