John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

Before we begin, I remind members, witnesses and those in the public gallery to turn off their mobile telephones as they affect the sound quality and the transmission of the meeting.

I advise witnesses that they are protected by absolute privilege in respect of the evidence they are to give this committee. If they are directed by the committee to cease giving evidence in relation to a particular matter and they continue to so do, they are entitled thereafter only to a qualified privilege in respect of their evidence. They are directed that only evidence connected with the subject matter of these proceedings is to be given and are asked to respect the parliamentary practice to the effect that, where possible, they should not criticise nor make charges against a Member of either House, a person outside the House or an official by name or in such a way as to make him or her identifiable.

Members are reminded of the provisions within Standing Order 163 that the committee shall also refrain from inquiring into the merits of a policy or policies of the Government or a Minister of the Government or the merits of the objectives of such policies.

I welcome Mr. Brendan McDonagh, chief executive officer of the National Asset Management Agency, NAMA. I invite him to introduce his officials.