Seán Fleming (Laois, Fianna Fail) | Oireachtas source

Our meeting today will deal with NAMA's financial statements for 2016 and 2017 and the Comptroller and Auditor General's special report No. 102 on the National Asset Management Agency second progress report, which was published during the course of the summer. We are joined by Mr. Frank Daly, chairman of NAMA, Mr. Brendan McDonagh, chief executive, Mr. Alan Stewart, chief legal officer and Ms Noelle Condon, chief financial officer. From the Department of Finance we are joined by Mr. Des Carville, head of shareholding and the financial advisory division. I welcome our witnesses to the meeting.

I remind members, witnesses and those in the Public Gallery to turn off their mobile phones completely. 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. If they are directed by the committee to cease giving evidence on a particular matter and they continue to do so, they are entitled thereafter only to qualified privilege in respect of that evidence. They are directed that only evidence concerning 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 nor make charges against any person, persons or entity by name or in such a way as to make him, her or it identifiable. Members of the committee are reminded of the provisions of Standing Order 186 to the effect that the committee shall refrain from inquiring into the merits of a policy or policies of the Government or a Minister of the Government or the merits of the objectives of such a policy. While we expect witnesses to answer questions clearly and with candour, witnesses can and should expect to be treated fairly and with respect and consideration at all times, in accordance with the witness protocol.

We will start with a statement from the Comptroller and Auditor General, to be followed by a statement by Mr. McDonagh.