Labour’s claiming the Central Bank Governor would be acting “illegally” by taking part in the Government’s proposed bank inquiry.

The party says 2003 laws will prohibit Patrick Honahan from publicly discussing or disclosing commercially confidential information in relation to any regulated firm or individual.

As part of the Government’s plan, the Governor is to complete a review of the role of the Central Bank and discuss the issue with an Oireachtas Committee.

But Labour’s Finance spokesperson Joan Burton cannot see how it can happen.

“Have you taken legal advice as to whether or not fresh legislation is required in order to allow the Governor carry out and communicate with the Oireachtas Committee in the way that you have described in your comments, and the Minister for Finance has described?” she asked.

“Is specific legislation required – and/or the suspension of section 33AK of the Central Bank Act?” she added.