Inquiry into IBRC deals has deadline extended to October

The commission of investigation inquiring into transactions by the Irish Bank Resolution Corporation has had its deadline extended until October.

Mr Justice Brian Cregan has submitted his second interim report to the Government requesting additional time.

Mr Justice Cregan said the commission was hampered by issues connecting to confidentiality and privacy.

However, the judge, who is the sole member of the commission, insists it has managed to do preliminary work on the sale of Siteserv to a company owned by businessman Denis O'Brien.

Minister for Justice Frances Fitzgerald published legislation on Friday to amend the terms of reference of the inquiry.

The proposed changes include allowing the commission to have the powers, rights and privilege of a High Court judge. The commission will be given the powers to compel the disclosure of information and to allow the special liquidators of IBRC to waive legal privilege.

The legislation also allows for the commission to sit and report in divisions.

This could allow another judge to be hired to work alongside Mr Justice Cregan, but no Government decision has been made in this regard.