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

The purpose of this meeting is to deal with matters relating to the banking sector. I welcome Mr. Larry Broderick, Ms Sharon McAuley and Ms Elaine Barker.

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.

I invite Mr. Broderick to begin his opening statement. There may be a division in the Seanad. If that is the case, the Senators will have to leave and we might suspend proceedings for the ten minutes.