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

On today's agenda is scrutiny of the proposed EU regulation COM (2013) 615 on money market funds. I welcome from the Department of Finance Mr. Aidan Carrigan, assistant secretary, Mr. Patrick Brennan, assistant principal, and Mr. Martin McDermott, administrative officer. I also welcome Ms Isla Cully and Mr. Oliver Gilvarry of the Central Bank of Ireland. The witnesses are here to help the joint committee in its examination of COM (2013) 615, proposal for a regulation of the European Parliament and of the Council on money market funds. The discussion will begin with opening remarks from Mr. Carrigan and thereafter members may put questions to the witnesses as appropriate. Before we begin, witnesses should note that under the Defamation Act 2009 they are protected by absolute privilege in respect of their evidence. However, if they are directed by the joint committee to cease giving evidence on a particular matter and they continue to do so, they are entitled thereafter only to qualified privilege in respect of their evidence. They are directed to restrict their evidence to the subject matter of these proceedings and to respect parliamentary practice by not criticising or making charges against a person, persons or an entity. I thank the witnesses for attending and ask Mr. Carrigan to make his opening comments.