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

So, I now propose that we go back into public session. Is that agreed? And our final and fourth session of today is a public hearing with Dr. Michael Somers, former chief executive of the National Treasury Management Agency and ... at our next session. So, in that regard, the Committee of Inquiry into the Banking Crisis now resuming in public session and can I ask members and those in the public Gallery to ensure that their mobile phones are switched off.

At our next and final session now, we will continue on the role of the NTMA during the crisis and we'll hear from Dr. Michael Somers, former chief executive of the National Treasury Management Agency. Dr. Michael Somers was CEO of the NTMA for 19 years, from December 1990 until his retirement in December 2009. Prior to this, he was Secretary General, national debt management, in the Department of Finance and Secretary General at the Department of Finance. Dr. Somers, you're very welcome before the committee this afternoon, or this evening.

Before hearing from the witness, I wish to advise the witness 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 are directed by the Chairman to cease giving evidence in relation to a particular matter and you continue to do so, you are 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 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. Therefore, 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 screens here in the committee room. For those sitting in the Gallery, these documents will be displayed on the screens to your left and right. 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 this meeting of the Joint Committee of Inquiry into the Banking Crisis. You have been furnished with booklets of core documents. These are before the committee, will be relied upon in questioning and form part of the evidence of the inquiry. So, with that said, if I can now ask the clerk to now administer the oath to Dr. Somers, please.