John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

We have received apologies from Deputies Pearse Doherty and Michael McGrath. Deputy John Brassil is substituting for Deputy Michael McGrath and Deputy Martin Ferris is substituting for Deputy Pearse Doherty.

I remind everybody to turn off mobile telephones as they interfere with the sound quality and transmission of the meeting.

The first item on the agenda is a discussion on the taxation treatment of Kerry Co-Operative Creameries Limited shareholdings with Mr. Charlie Phelan, Ms Anne Dullea, Mr. Paul Walsh and Ms Clare Lucey of the Office of the Revenue Commissioners.

I wish to advise the witnesses 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 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 are asked to respect the parliamentary practice to the effect that, where possible, they should not criticise or make charges against any person or an entity by name or in such a way as to make him, her or it identifiable.

I invite Mr. Phelan to make his opening statement.