FINANCE Minister Brian Lenihan has insisted that legislation to prevent the abuse of tax reliefs for pension purposes is working, despite a recent report indicating otherwise.

MICHAEL FINGLETON will formally step down as chief executive of the Irish Nationwide Building Society (INBS) at the end of this month — ending 37 years association with the company.

AS if the banking debacle is not enough to contend with, the Government then appoints the Covered Institution Remuneration Oversight Committee to review bankers’ pay.

A FORMER tánaiste and a number of ex-ministers are on the Government panel from which the six major banks and building societies covered by the guarantee scheme are to select additional board members.

The Government is to recoup €1bn from eleven banks protected under a two-year State guarantee scheme.