Kevin Humphreys (Dublin South East, Labour)
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To ask the Minister for Public Expenditure and Reform when he expects the Banking Inquiry to be established; his plans to set up a special committee of investigation for same; if he will be bringing forward legislation for that purpose; and if he will make a statement on the matter. [51430/12]

Brendan Howlin (Wexford, Labour)
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The Deputy will be aware I strongly support the objective of undertaking an effective and legally robust parliamentary banking inquiry. In that context, I wish to advise the Deputy that the Government, at its meeting on the 31st October, approved the drafting, as a matter of priority, by the Office of the Parliamentary Counsel, of the Houses of the Oireachtas (Inquiries, Privileges and Procedures) Bill 2012, with a view to its urgent enactment by the Oireachtas.

This legislation will provide a comprehensive statutory framework for inquiries carried out by the House(s) of the Oireachtas consistent with the current constitutional framework as set down by the Supreme Court in Maguire v Ardagh [2002] 1 IR 385 (The Abbeylara judgment).

A key feature of the proposed legislative scheme is the central role envisaged for the Houses of the Oireachtas in implementing the statutory framework in the case of any particular proposal for an inquiry including in relation to banking matters. Under the proposed legislation, responsibility is assigned exclusively to the Houses of the Oireachtas to determine the requirement for a formal inquiry, the terms of reference of that inquiry and the procedural and organisational aspects of the inquiry.

This is achieved under the proposed Bill by making provision for a ‘gateway’ mechanism requiring the Ceann Comhairle of Dail Eireann and / or the Cathaoirleach of the Seanad as appropriate, following consultations with the Committee on Procedures and Privileges, any relevant Minister as well as any other relevant parties, to evaluate proposals for an inquiry and report to the House(s) with his or her views and proposals as to how the matter should be progressed or not.