It was composed of the chairperson and sole member, originally Mr Justice Daniel O'Keeffe, and subsequently Judge Brian Cregan.
It shall also investigate all transactions which might give rise to public concern in respect of the ultimate returns to the taxpayer.
[5] Further details of the terms of reference are set out in the Commission of Investigation (Irish Bank Resolution Corporation) Order 2015.
The Minister for Finance stated in the Dail that "the commission will have the power to investigate any transaction of any value that gives rise or is likely to give rise to potential public concerns, regardless of the level of loss", including verbal agreements and was apparently not confined to the time-limits in the terms of reference.
On the third occasion in June 2016, the Taoiseach revised the time frame for the submission of the commission's final report until the end of October 2016.