Denis Naughten (Roscommon-Galway, Independent) | Oireachtas source

Apologies have been received from Senator Garvey. Members participating in the meeting remotely are required to do so from within the precincts of Leinster House only. I ask members and witnesses to please turn off their mobile phones or ensure they are on silent mode. I advise members of the committee who are participating in the meeting remotely to use the raise hand function on Microsoft Teams if they wish to contribute.

This is the committee's third session of detailed scrutiny of the Safe Deposits Boxes and Related Deposits Bill 2022. This Private Member's Bill tabled by Deputy Ó Cuív concerns abandoned safe deposit boxes residing in some of the oldest banks still in operation today. The Bill comprises six Parts and 30 sections, addressing, among other items, the registration of deposits, the retention by the State of unclaimed property, notification of relevant institutions such as the National Gallery or the National Library and the disposal or transfer of unclaimed property and moneys. The Bill was introduced in May 2022 and has now reached pre-legislative scrutiny stage.

Some of the issues raised with the Departments on 24 May related to the scope and drafting of the Bill.

The committee engaged with Finders International on 31 May. This firm worked to assist with the process of identifying and locating property for owners held in safe deposit boxes by financial institutions on behalf of companies and private individuals.

Today we welcome representatives of the Banking & Payments Federation of Ireland and look forward to discussing how the Bill will affect the main banks, which store these safe deposit boxes. The committee is interested in how they can best incorporate their views in the detailed scrutiny process to assist with and improve the Bill. I welcome Ms Michelle Byrne, head of consumer banking, and Ms Bernice Evoy, solicitor and head of legal and regulation.

Before we start, I wish to explain some limitations to parliamentary privilege and the practice of the Houses as regards references witnesses may make to other persons in their evidence. The evidence of witnesses physically present or who give evidence from within the parliamentary precincts is protected pursuant to both the Constitution and statute by absolute privilege. Witnesses are reminded of the long-standing parliamentary practice that they should not criticise nor make charges against any person or entity by name or in such a way as to make him, her or it identifiable, or otherwise engage in speech that might be regarded as damaging to the good name of the person or entity. Therefore, if their statements are potentially defamatory in respect of an identifiable person or entity, they will be directed to discontinue their remarks. It is imperative they comply with any such direction.

Members are reminded of the long-standing parliamentary practice to the effect they should not comment on, criticise nor 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 Ms Byrne to make her opening statement.