Oireachtas Joint and Select Committees

Thursday, 10 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

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

I would also like to acknowledge that you're appearing here today as a voluntary witness, and that the European Commission has been very co-operative with the committee's requests. This is your second occasion - Mr. Nava has also been here - and I'd just would like to put it on the record that the European Commission has engaged with all the requests that this committee, unlike other institutions that we have, but it has been very, very co-operative in its manner with the inquiry.

So, before we engage in the proceedings, I'd just like 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're directed by the Chairman to cease giving evidence in relation to a particular matter and you continue to so do, 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'm very, very mindful as well that there are particular terms of reference and lines of inquiry that relate to the Commission that we will be remaining inside today in our engagement with you, Mr. Buti.

In that regard, 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 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, and members of the public and journalists are reminded that these documents are confidential and they should not publish any of the documents so displayed. So with that said, if I can now ask the clerk to administer the affirmation to Mr. Buti, please.

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