Pearse Doherty (Donegal South West, Sinn Fein)
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283. To ask the Minister for Public Expenditure and Reform the necessary steps to establish an Inquiry into the Banking Crisis of 2008; the timeframe for each step; when it is envisaged an inquiry into the banking crisis of 2008 will take place; and if he will make a statement on the matter. [39343/13]

Brendan Howlin (Wexford, Labour)
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As the Deputy will be aware, in order to respect the authority of the Houses of the Oireachtas to regulate their own affairs, section 1(3) of the Houses of the Oireachtas (Inquiries Privileges and Procedures) Act provides that the commencement order cannot be made unless a draft of the proposed order has been laid before each House and a resolution has been passed in each House approving the draft order.

The draft order was approved by the Dáil on the 18th September and by the Seanad on the 19th of September. The Act will commence on 25th September, 2013.

The Government supports the initiation of a banking inquiry. Any such inquiry must be completed within the lifetime of the current Dáil. Under the Act, autonomy rests with the Oireachtas in determining the requirement for a formal inquiry, the terms of reference of that inquiry, the appropriate committee to conduct an inquiry and the procedural and organisational aspects of the inquiry.

Prior to the initiation of any banking inquiry a number of steps must be carried out by the Houses.

These include:-

putting in place rules and standing orders to govern the establishment of an inquiry; and

drafting necessary guidelines and standing orders to ensure the effective and efficient operation of an inquiry.

I understand that preparations are well underway by the Oireachtas Service to draft the Standing Orders and guidelines required under the Act to enable an Inquiry to take place.