Caoimhghín Ó Caoláin (Cavan-Monaghan, Sinn Fein) | Oireachtas source

I welcome Mr. Lorcan O'Connor, director of the Insolvency Service of Ireland, who is joined by Mr. John Farrell, head of regulation and policy division, and Mr. Alex Matthews, bankruptcy division, who is in the Visitors Gallery. In terms of the format of this meeting, Mr. O'Connor will be invited to make an opening statement following which there will be a questions and answers session. This is the third and final session of our address of the Mortgage Arrears Resolution (Family Home) Bill 2016.

Before we commence, I must draw the attention of the witnesses to the situation regarding privilege. By virtue of section 17(2)(l) of the Defamation Act 2009, they are protected by absolute privilege in respect of their evidence to the committee. However, if they are directed by it 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 now invite Mr. O'Connor to make his opening statement.