Denis O'Brien will not be called to appear before the Banking Inquiry.
Members were given legal advice this evening that inviting the businessman and media owner would be outside the inquiry's terms of reference.
Fianna Fáil's Michael McGrath had wanted to invite Mr O'Brien to give evidence on his experience as a commercial borrower.
It was also advised that bringing Denis O'Brien in for questioning could overlap with the work of the Commission of Investigation into IBRC.
Earlier it was announced that the inquiry will contact the Gardaí over the leak of hundreds of pages of privileged evidence.
The move follows extensive media reports about the evidence to be given by former civil servant Kevin Cardiff to the inquiry on Thursday.
In a statement this evening the Committee said documents sent by witnesses had a legal protection, and that publishing some of those documents might constitute a criminal offence.
The committee says it will now refer the matter to the Gardaí, and will contact the media outlets who published the evidence reminding them that it's an offence to publish the documents in full.
In a separate move the government has agreed to waive cabinet confidentiality so that the former attorney general, Paul Gallagher, can give evidence about his legal advice in the run-up to the bank guarantee.
A government decision was needed to allow Gallagher to give evidence around the legal advice he gave to ministers.
He was the attorney-general between 2007 and 2011, and was present in Government Buildings on the night the guarantee was introduced.
The government also agreed to allow the release of private legal advice sought by the Department of Finance in the run-up to the guarantee.