Hickey spent one night in a Rio de Janeiro hospital after his detention which stunned the International Olympic Committee (IOC) as the Rio Games hit its peak.
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Mr Hickey complained of heart problems as he was arrested on Wednesday over the alleged illegal sale of tickets.
With Hickey due to give a deposition to police in Rio, the OCI has released a statement answering the questions they have been asked most frequently in relation to Mr Hickey and the scandal.
Hickey, 71, was arrested at his Rio hotel after being accused of ticket scalping, ambush marketing and conspiracy.
On Tuesday, an arrest warrant was issued for OCI and European Olympic Committee president Patrick Hickey over allegations he passed on tickets for the Games to be sold on at inflated prices.
The statement says Mr Hickey took the decision to “temporarily” step down as President of the OCI, International Olympic Committee member in Ireland, European Olympic Committee President, and Association of National Olympic Committees Vice President until the matter is resolved.
The Olympic Council of Ireland says it can’t yet confirm whether their President Pat Hickey has been denied bail in Brazil.
The OCI also said it would scrap a previously announced internal inquiry, in a complete U-turn only days after saying no independent monitoring of its investigation was needed.
Hickey was seen being pushed out of the hospital in a wheelchair.
Police said Ireland’s Olympic body helped transfer tickets to an unauthorised vendor who would set high fees and disguise the transaction as a hospitality package.
Hickey was denied bail by a Brazilian judge and transferred to Bangu, a penitentiary complex which houses some of Brazil’s most unsafe inmates. The Dublin-based organization said it will “cooperate fully” with a non-statutory government inquiry at home into the scandal.
Brazilian police also have warrants for the arrest of other company officials in Britain and Ireland.
THG did not have a permit to sell Irish Olympic tickets for the Rio Games.
Kevin Mallon, the Irish director of THG Sports, is also being held at Bangu Prison following his arrest on 5 August.
Sports minister Shane Ross, who is in Rio and who met Hickey at the weekend to discuss the ticket sales allegations, tweeted simply: “Shell shock here in Rio”.
“We have nothing to hide and are therefore anxious that the full facts are established and made public as soon as possible so that our good name can be exonerated”, the firm said.
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Mr Hickey, THG, Pro10 and Mr Mallon have denied having a role in any impropriety.
