The inquiry into the sale of SiteServ by the Irish Bank Resolution Corporation (IBRC) will not issue its first report on the matter until the end of next year.

That's a result of the revised terms of reference and extra powers to be given to the inquiry in the coming weeks.

The Commission was set up in the wake of the controversy over the sale of the company Siteserv by IBRC in 2012.

TDs today passed the Commission of Investigation (Irish Bank Resolution Corporation) Bill 2016 which gives the inquiry more power to compel documents and to override legal privilege in certain cases.

But it's believed that the revised terms of reference - which prioritise the SiteServ sale over other transactions - is likely to lead to a longer delay in the inquiry reporting back.

It's also understood that Justice Brian Cregan, leading the inquiry, believes more time is needed to consider hundreds of thousands of pages of evidence.