Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

We will now deal with No. 10 on today's agenda, scrutiny of COM (2013) 520. This is a proposal for a regulation of the European Parliament and the Council establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a single resolution mechanism and a single bank resolution fund and amending Regulation EU 1093/2010 of the European Parliament and of the Council. I welcome Mr. Aidan Carrigan, Mr. Pat Casey, Mr. Cathal Sheridan and Mr. Liam Morris of the Department of Finance. I understand Mr. Morris is late of this parish.

The meeting will begin with an opening statement by Mr. Carrigan, followed by a question and answer session. I remind members, witnesses and those in the Visitors Gallery to switch off their mobile telephones. I advise the delegates that by virtue of section 17(2)(l) of the Defamation Act 2009, they are protected by absolute privilege in respect of their evidence to the committee. However, if they are directed by the committee to cease giving evidence in regard to a particular matter and they continue to do so, they are entitled thereafter only to a qualified privilege in respect of their evidence. Witnesses are further directed that only evidence connected with the subject matter of these proceedings should be given and are asked to respect the parliamentary practice that, where possible, they should not criticise or make charges against any person, persons or entity by name or in such a way as to make him, her or it identifiable. Members are reminded of the long-standing ruling of the Chair to the effect that they should not comment on, criticise or make charges against a person outside the House or an official by name or in such a way as to make him or her identifiable.

I invite Mr. Carrigan to make his opening statement.