Central Bank of Ireland

Dáil Éireann Debate, Tuesday - 26 May 2015

Tuesday, 26 May 2015

Questions (307)

Andrew Doyle

Question:

307. Deputy Andrew Doyle asked the Minister for Finance in view of section 19 of the Central Bank Act 1942, if he will provide details of the selection process which will be undertaken to determine the recommendation to the President for the appointment of the 11th Governor of the Central Bank of Ireland; his plans to ensure that a transparent selection process will be undertaken, in view of the publicly accountable nature of the position; and if he will make a statement on the matter. [20726/15]

Written answers

Minister for Finance

Section 19 of the Central Bank Act 1942, as amended, sets out the rules and procedure for the appointment of the Governor of the Central Bank. Section 19 provides that the Governor is to be appointed by the President on the advice of the Government. The term of appointment is seven years. While the Governor has announced his intention to retire, the details of the date of retirement are yet to be confirmed. A process for appointment of a new Governor will be commenced shortly.