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

We will deal with scrutiny of EU legislative proposals - COMs (2017) 536, 537, 538 and 539, inclusive - collectively referred to as the "ESA package". Representatives from the Department of Finance, the Central Bank of Ireland and the Irish Funds are before us for this session.

I advise 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 this committee. If they are directed by the committee 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 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.

Members are reminded of the long-standing parliamentary practice to the effect that members should not comment on, criticise or make charges against a person outside the Houses or an official either by name or in such a way as to make him or her identifiable.

I invite Mr. Oliver Gilvarry, Department of Finance, and Mr. Gerry Cross, Central Bank of Ireland, to make their opening statements.