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

Before we commence business, I remind members, witnesses and those in the Public Gallery that all mobile phones should be switched off to avoid interference with the broadcasting of the meeting. I welcome the representatives of Permanent TSB to this morning's meeting. We are joined by Mr. Jeremy Masding, group chief executive officer; Mr. Stephen Groarke, head of financial reporting and planning; Mr. Shane O'Sullivan, managing director, asset management and non-core units; and Mr. Ger Mitchell, director of mortgage and consumer finance. The witnesses are here to assist the committee in its examination of mortgage arrears and to report on progress in putting in place solutions aimed at resolving difficulties in the sector. I thank Mr. Masding and his staff for the written material provided to the committee in advance of today's meeting.

The discussion will begin with opening remarks by Mr. Masding. Following that, questions will be put by members to witnesses as appropriate. It is very important that we manage our time well today. To derive maximum benefit from the meeting, therefore, each member will have a strictly limited time slot within which questions may be put and replies given. The questions of members and the replies from witnesses should be clear and concise.

I advise the witnesses 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. If they are directed by it to cease giving evidence on a particular matter and continue to so do, they are entitled thereafter only to qualified privilege in respect of their evidence. The witnesses are directed that only evidence connected with the subject matter of these proceedings is to be given and they are asked to respect the parliamentary practice to the effect that, where possible, they should not criticise or make charges against any person or entity by name or in such a way as to make him, her or it identifiable.
I welcome the members of Permanent TSB before us this morning and I ask Mr. Masding to proceed with his opening comments.