O'Leary's announcement follows the resignation of the organisation’s former president Eddie Downey on Wednesday night. Acting president Tim O’Leary has asked the association’s rules committee to meet immediately to give guidance on when the election should be held. A date in March or April was the general expectation last night among delegates. An earlier date is unlikely given the proximity of the Christmas period. However, the consequences of an IFA election coinciding with elections for national government are unclear.

Later on Thursday, Carlow IFA chairman Derek Deane told the Drivetime programme on RTE radio that he had not decided whether he would run for president.

“I want to consult with my family, my wife and my county,” he said, adding: “The election is not set yet. I don't want to be canvassing for six months, I'd rather be farming.”

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These are the latest developments in the series of events sparked by questions raised over former general secretary Pat Smith’s remuneration. It emerged last week that Pat Smith’s pay package amounted to €535,000 in 2013 and over €400,000 in 2014.

Smith resigned before the details of his remuneration emerged but county executive members then began calling for the resignation of president Eddie Downey. Downey ”stepped back” from his position on Monday 23 November pending an audit review of remuneration by the IFA’s former chief economist, Con Lucey, who resigned from the IFA in 2014, citing ”unacceptable interference” in his role by Pat Smith.

On Wednesday 25 November, an emergency executive council meeting was held in the Irish Farm Centre where it emerged that Pat Smith’s severance package amounted to €2m on top of his pension pot of €2.7m.

IFA members announced their intention to fight the severance package in court. Downey, who signed off on it, resigned that same evening.

Tim O’Leary said last night that former IFA chief economist Con Lucey has agreed to conduct a thorough review of the structures in the association around corporate governance and related matters, including issues around remuneration.

“He will report to the executive council on Tuesday 15 December. The executive council unanimously welcomed Con Lucey’s involvement as an important step forward in rebuilding the trust of farmers,” he said.

Deane called for a “root-and-branch examination” of the IFA, but he questioned the timing of the review. “I'd rather to it over one or two years,” he told RTE.

The salaries of both former president Eddie Downey and deputy president Tim O’Leary were revealed during the week’s drama. Downey’s salary was revealed as €147,000 before director’s fees, while O’Leary’s salary was revealed as €35,000.

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