Seymour Crawford (Cavan-Monaghan, Fine Gael)
Link to this: Individually | In context

Question 29: To ask the Minister for Finance the compensation arrangements in respect of a person (details supplied) as sole member of the Commission of Investigation into the banking sector here; and if he will make a statement on the matter. [33923/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
Link to this: Individually | In context

On 7 July 2010, the Government announced its decision to establish a Commission of Investigation into the banking sector in Ireland. The Commission was formally established on 21 September 2010 by Government Order.

The person concerned will receive a per diem fee of €1,000 plus an allowance of €4,000 per month towards travel and accommodation expenses for the duration of the work of the Commission of Investigation, both of which will be subject to tax. The compensation arrangements in this case reflect an appropriate adjustment in line with the Financial Emergency Measures in the Public Interest Acts 2009.

These compensation arrangements also reflect the fact that significant quasi-judicial powers are vested in statutory commissions of investigation established under the Commissions of Investigation Act 2004.