Minister for Finance Michael Noonan has said he wants to build as much consensus as possible with the Opposition on the commission of investigation into Irish Banking Resolution Corporation (IBRC).

Speaking on his way into Cabinet on Tuesday morning, Mr Noonan confirmed he would present revised terms of reference after hearing the concerns of senior Opposition representatives on Monday night.

“I’ll be making proposals and I’ll be taking on board some of the points raised by the Opposition by way of email to me and also across the table last night,” he said.

“I think we’ll build as much consensus as we can. I presume there will be still outstanding matters which the Opposition will argue about in the course of the debate.

“But I think we’ll get a good result so that there are effective terms of reference which will allow the judge, when he’s appointed, to deal with all the issues that have been made.”

Mr Justice Iarfhlaith O’Neill is widely expected to head the IBRC inquiry.

The Dáil debate on the commission of investigation will begin after 5pm and is scheduled to continue until midnight, and may resume on Wednesday morning.

Earlier, Taoiseach Enda Kenny has said judges are not “pawns of government” when asked about the commission of investigation.

Speaking on his way into Cabinet, he confirmed Ministers would consider the revised terms of reference after Minister for Finance Michael Noonan heard the concerns of senior Opposition representatives last night.

“I think its important to say that in this country judges are not the pawns of any Minister and they’re not the pawns of any government,” he said.

Mr Kenny said the Government had decided to initiate a commission of investigation.

Independent TD Catherine Murphy highlighted the sale of Siteserv to a company owned by Denis O'Brien and made a Dáil speech about the businessman's banking arrangements.

Mr Kenny said the commission of investigation would be independent.

“When the Government sign off, and by putting the terms of reference where the Government agree on that to the House, the matter is then one that becomes the responsibility of whoever is appointed sole member,” Mr Kenny said.