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

As we have a quorum, can I propose that we go back into public session? Is that agreed? And we'll now commence with session 2 of today's public hearings with Mr. Duffy, chief executive officer, Allied Irish Banks. The committee of inquiry into the banking crisis is now resuming in public session and can I ask members and those in the public gallery to ensure that all mobile phone devices are switched off?

We will now hear from Mr. David Duffy, chief executive officer at Allied Irish Banks. David Duffy joined AIB Group in December 2010 as chief executive officer, chairman of the leadership team and board member. From 2006 to 2011, he served at Standard Bank where he was head of strategic projects. Prior to this, he served at ING Group and at Goldman Sachs International. Mr. Duffy, you're very welcome before the inquiry this afternoon.

Before I begin proceedings, I just wish to advise the witness, Mr. Duffy, that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their evidence to this committee. If you're directed by the Chairman to cease giving evidence in relation to a particular matter and you continue to do so, you're entitled thereafter only to a qualified privilege in respect of your evidence. You are directed that only evidence connected with the subject matter of these proceedings is to be given. I would also like to remind members and those present that there are currently criminal proceedings ongoing and further criminal proceedings are scheduled during the lifetime of the inquiry which overlap with the subject matter of the inquiry, so I've been advised that the utmost caution should be taken not to prejudice those proceedings.

Members of the public are reminded that photography is prohibited in the committee room. To assist the smooth running of the inquiry, we will display certain documents on the screen here in the committee room. For those sitting in the gallery, those documents will be displayed on the screen to your left. Members of the public and journalists are reminded that these documents are confidential and they should not publish any of the documents so displayed.

The witness has been directed to attend the meeting of the Joint Committee of Inquiry into the Banking Crisis and you have been furnished with booklets of core documents. These are before the committee, which will be relied upon in questioning and form part of the evidence of the inquiry.

So, if I can now ask the clerk to administer the oath.