Seán Fleming (Laois, Fianna Fail) | Oireachtas source

Today the committee will continue its examination of the Comptroller and Auditor General's special report No. 94 on the National Asset Management Agency, or NAMA as it is better known, and its sale of Project Eagle, the code name given to the sale of its Northern Ireland loan portfolio. To date we have met with the Comptroller and Auditor General to discuss his report, representatives of NAMA, the Minister for Finance, Deputy Noonan, and Mr Brian Rowntree, a former member of NAMA’s Northern Ireland advisory committee, NIAC. We have also met three members of the current board.

I welcome Mr. Michael Moriarty, current head of asset recovery in NAMA; Mr. John Collison, deputy head of asset recovery in NAMA at the time of the sale of Project Eagle, Mr. Alan Stewart, senior divisional solicitor in NAMA and Mr. Donal Rooney, former chief financial officer in NAMA I remind members, witnesses and those in the Public Gallery that all mobile phones must be switched off.

I advise the witnesses that by virtue of section 17(2)(l)of the Defamation Act 2009, they are protected by absolute privilege in respect of their evidence to this committee. If, however, they are directed by it to cease giving evidence on a particular matter and continue to so do, they are entitled thereafter only to 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 or entity either by name or in such a way as to make him, her or it identifiable.

Members are reminded of the provisions within Standing Order 186 that the committee shall refrain from inquiring into the merits of a policy or policies of the Government or a Minister of the Government or the merits of the objectives of such policy or policies. Finally, Members are reminded of the long-standing ruling of the Chair 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 invite Mr. Collison to make his opening statement.