Joe O'Toole (Independent)

First, I do not believe it is in company law and, if it is, the relevant section in the 2003 Act has not been commenced. There is much merit in this recommendation. Despite the fact that the Minister said it might not be relevant, I noticed he took the opportunity in his speech on Second Stage yesterday to make a passing reference to his relationship to the bonus scheme. He can hardly blame Senator Alex White for raising an issue which the Minister considered sufficiently important to raise in his speech or in The Irish Times article yesterday. I also recall the Minister discussing this in the Lower House as well.

This issue is hugely important. Senator Alex White has pointed to changes that should perhaps be made in the recommendation if he were to re-draft it. I do not agree with the Minister's statement that this Government has a good record on bonuses. It does not. The Minister can begin with his Department or any State Department. The bonus system in the Departments has been brought into disrepute and every review of higher remuneration since the introduction of the bonus scheme in 1995 has been unhappy with it. The reason is-----