The Dail will decide later this month what penalty to impose on former Fianna Fail TD, Mr Denis Foley, following his admission last night that he had breached the Ethics in Public Office Act.

Mr Foley made his admission last night at a meeting of the Members Interests Committee. His legal representative, Mr Donal O'Donnell SC, made submissions in mitigation, following Mr Foley's admission.

The committee met last night to consider a complaint made by the Labour Party leader, Mr Ruairi Quinn, that Mr Foley had breached section 7 of the Act. This followed the revelation that Mr Foley had held an Ansbacher account at a time when he voted on a Dail motion concerning the investigation into Ansbacher accounts and deposits.

The committee will meet again on Tuesday to begin considering what report it will make to the Dail following Mr Foley's admission. It has a number of options, ranging from simply taking note of what has occurred, to censuring him, to suspending him from the Oireachtas for up to 30 days.

Presuming the committee makes a unanimous recommendation, the chairman, Mr Tony Killeen (Fianna Fail), will propose a Dail resolution to this effect. A reliable source said last night that this was expected within weeks.