Richard Bruton (Dublin North Central, Fine Gael)
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Question 158: To ask the Minister for Finance if an assessor has been appointed in respect of compensation for shareholders in Anglo Irish Bank; the basis on which the selection was made; the terms of reference; and if a date has been set for completion of the work. [27600/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Section 22 of the Anglo Irish Bank Corporation Act 2009 provides that I shall appoint an Assessor at an appropriate time having regard to the public interest, to determine the fair and reasonable aggregate value of the transferred shares and extinguished rights and the consequent amount of compensation, if any, that may be payable to persons in respect of Anglo shares transferred and rights extinguished under the Act. The Act provides that the Assessor has significant knowledge or experience of the financial services sector and has no material conflicts of interests with the performance of the Assessor's function.

The Act sets out certain criteria regarding the performance of the Assessor functions such as that he or she is independent, shall act as an expert only, and shall perform the functions of the Assessor as expeditiously as possible consistent with fairness.

It is my intention to advance the process for the appointment of the Assessor and I expect to announce the person to be appointed in due course.