Clare Daly (Dublin Fingal, Independent)
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176. To ask the Tánaiste and Minister for Justice and Equality the process regarding the way in which four judges are appointed to the Courts Service investment committee; the level of expertise in investments of large sums of money that they are required to have; if they are paid for their position on the committee; and if so, the nature of such remuneration. [44556/17]

Charles Flanagan (Laois, Fine Gael)
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As the Deputy is aware, the High Court has jurisdiction in wards of court matters and management of the courts is the responsibility of the Courts Service, which is independent in exercising its functions under the Courts Service Act 1998. 

However, in order to be of assistance to the Deputy, I have had enquiries made and the Courts Service has informed me that the governance arrangements for the oversight of court funds were put in place following a comprehensive external review in 2001 carried out by Mercer Investment Consultants. One of its the recommendations concerned the establishment of an Investment Committee and it was recommended that this Committee should be representative of fiduciaries and their delegated agents.

There are three judges on the Investment Committee, the President of the High Court who chairs the Committee, and two other judges, one from the Circuit Court and one from the District Court, each nominated by the respective President of that jurisdiction. The inclusion of the judiciary on the Investment Committee is based on their fiduciary role and the fact that all court funds are ultimately under the control of the courts and the judiciary.

The investment expertise is provided by independent investment consultants, who are contracted to work with and support the Committee in all its oversight and decision making functions.

The Courts Service has also informed me that the judges receive no remuneration for their role on the Investment Committee.