Enterprise Ireland Annual Report and Accounts 2009

Membership of the Board and Committees
as at 1 May 2010

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The Board is responsible for setting the broad strategy and policies of the organisation. It is responsible for the system of internal financial control and for putting in place processes and procedures for the purpose of ensuring that the system is effective. The Board also has oversight responsibility for the activities of the organisation. It delegates to management and subcommittees the responsibility for their implementation.

The Board has statutory authority to approve funding up to the levels set out in the Industrial Development Act 1986, as amended, and the Science and Technology Act 1987 and to make recommendations to Government on funding support above these levels. The Enterprise Ireland Board and its relevant committees have the authority to purchase shares (ordinary and preference) in client companies. Under the terms of the Industrial Development (Enterprise Ireland) Act 1998, all functions and powers are reserved to the Board, save those that the Board formally delegates. All powers so delegated are set down and are formally approved by the Board.

In its own activities and in its use of sub-committees, the Board operates towards best private sector corporate governance principles. In accordance with the Ethics in Public Office Act, 1995 and the Code of Practice for the Governance of State Bodies, Board members are required to provide a Statement of Interest to the Standards in Public Office Commission and to the Secretary. Enterprise Ireland fully complies with Government policy on the pay of Chief Executives and State Body employees and with Government guidelines on the payment of fees to Board members.

Board members are appointed by the Minister for Enterprise, Trade & Innovation, with the consent of the Minister for Finance. Each year, on the anniversary of the Establishment Day, the two members (other than the Chairman and Chief Executive) that have been longest in office since their last appointment, retire from office. New Board members, on their appointment, are provided with extensive briefing on the agency and its operations. The appointment and removal of the Secretary to the Board is a matter for the Board. All Board members have access to the Secretary, who is responsible for ensuring that Board procedures are complied with.