Oireachtas Joint and Select Committees

Wednesday, 14 December 2016

Public Accounts Committee

Policy on the Retention of Contemporaneous Notes in the Preparation of Board Minutes: National Asset Management Agency

10:00 am

Photo of Josepha MadiganJosepha Madigan (Dublin Rathdown, Fine Gael) | Oireachtas source

I thank Mr. Daly for his opening statement and welcome Mr. McDonagh. The first time Mr. Daly appeared before the committee in this regard, I asked him to provide the minutes and I thank him for doing so. The minutes are retrospective but it is good to have them. I wish to refer Mr. Daly to the first page of his opening statement. He said, "The signed board minutes are the official record of each meeting." I would like him to state here on record whether there was an off-piste discussion. I have been privy to meetings where during the discussions, a request was made for the tape to be stopped and a conversation ensued. It would have been said, "We won't record this for the minutes but let us have a conversation." I ask Mr. Daly to confirm today that no such discussion took place at the board meeting. When one reads the minutes one can see a clear decision was made but no rationale has been given. I am not satisfied with how or where the conversation took place. I ask Mr. Daly to confirm that no conversations around that took place that were not recorded, as in an unofficial conversation. He has said that the minutes are the official record.

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