John Curran (Dublin Mid West, Fianna Fail) | Oireachtas source

I draw the attention of witnesses to the fact 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 the committee. However, if they are directed by the committee to cease giving evidence on a particular matter and they continue to so do, they are entitled thereafter only to a qualified privilege in respect of their evidence. They 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, persons or entity by name or in such a way as to make him, her or it identifiable.

The opening statements will be published on the committee website after this morning's meeting. Members are reminded of the long-standing parliamentary practice to the effect that they should not comment on, criticise or make charges against a person outside the House or an official either by name or in such a way as to make him or her identifiable.

I welcome from the National Asset Management Agency, NAMA, Mr. Frank Daly, chairman, Mr. Brendan McDonagh, chief executive, and Mr. Martin Whelan, head of public affairs. Their submissions have been received and circulated to members. I invite Mr. Daly to make his opening remarks.