Brendan Smith (Cavan-Monaghan, Fianna Fail)
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To ask the Minister for Finance his plans to safeguard the State’s investment in Irish Life; and if he will make a statement on the matter. [42319/12]

Michael Noonan (Limerick City, Fine Gael)
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I will oversee Irish Life in a manner similar to the Covered Banks with a relationship framework detailing the roles and responsibilities of the board which will operate on an independent commercial basis and with certain matters requiring approval or consultation with me. Operational decisions will remain the responsibility of the board and management.