Ciarán Lynch (Cork South Central, Labour)
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I now am proposing that we go back into public session. Is that agreed? Agreed. We now move on to session 2 of today's proceedings, which is a public hearing discussion with Mr. Patrick Davitt, chief executive, Institute of Professional Auctioneers and Valuers. The Committee of Inquiry into the Banking Crisis is now resuming in public session and can I ask members and those in the public Gallery to ensure that their mobile devices are switched off.

Today we continue our hearings with Mr. Patrick Davitt, chief executive, Institute of Professional Auctioneers and Valuers. Mr. Patrick Davitt has been chief executive of IPAV since May 2013. He has been a member of the IPAV since 1983, serving as president on two occasions. He was a member of the Auctioneering-Estate Agency Review Group in 2004 and is a member of the Property Services Regulatory Authority, established on a statutory authority basis on 3 April 2012.

Before hearing from Mr. Davitt, I wish to advise the witness 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 you are directed by the Chairman to cease giving evidence in relation to a particular matter and you continue to so do, you are entitled thereafter only to a qualified privilege in respect of your evidence. You are directed that only evidence connected with the subject matter of these proceedings is to be given.

I would remind members and those present that there are currently criminal proceedings ongoing and that further criminal proceedings are scheduled during the lifetime of the inquiry, which overlap with the subject matter of the inquiry. Therefore, the utmost caution should be taken not to prejudice those proceedings.

Members of the public are reminded that photography is prohibited in the committee room. To assist the smooth running of the inquiry, we will display certain documents on the screens here in the committee room. For those sitting in the Gallery, these documents will be displayed on the screens to your left and right. Members of the public and journalists are reminded that these documents are confidential and should not publish any of the documents so displayed.

The witness has been directed to attend the meeting of the Joint Committee of Inquiry into the Banking Crisis and you have been furnished with booklets of core documents. These are before the committee and will be relied upon in questioning and form part of the evidence of the inquiry. So if I can now ask the clerk to administer the oath.