Oireachtas Joint and Select Committees

Thursday, 10 November 2016

Public Accounts Committee

Business of Committee

9:00 am

Photo of Seán FlemingSeán Fleming (Laois, Fianna Fail)
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Yes. We will have to make a decision on Ms Finan this morning because they are due in next week. We will deal with it in private session shortly.

The next item is item 148B. It is correspondence received from NAMA as a follow up to information requested. We will note this correspondence and put it into the Project Eagle folder. Is that agreed? Agreed.

The next item is item 150B(i) to (v). It is correspondence received from the Minister of Finance, Deputy Michael Noonan. A number of documents have been provided as a follow up to our engagement with the Minister on 6 October. Additionally, a CD was provided with a number of other documents. Can we note this correspondence and put it into the Project Eagle file? Agreed. We will publish that as well.

The next item is item 151B(i) to (xvii). It is an e-mail from the Department of Health attaching a number of documents sent to the previous committee in relation to the Grace case. It is being brought to our attention again as it was referred to in a recent newspaper article. Can we note and publish this? I understand that the HSE or Tusla are dealing with that directly and I do not want to duplicate any work of any other committee. Shall we note it and publish it? Agreed.

The next item is item 166B. It is a letter from Mr. Tom Rice, chief legal officer to PIMCO, informing the committee that PIMCO is declining the invitation to appear before it because of ongoing investigations, among other reasons. However, Mr. Rice does provide a considered response to the committee’s stated areas of interest. We have invited PIMCO and it has said, for various legal reasons and inquiries that are ongoing, that it is not in a position to attend. It has answered the specific questions we put to it in our letter of invitation. As we have heard from the Comptroller and Auditor about the famous PIMCO withdrawal of phone calls, etc. We have had extensive evidence presented in public by NAMA officials and board members. In the interest of balance of the evidence being put out in public session, we have to read this letter into the public record rather than just having it buried in correspondence and appearing somewhere down the road.

At the end of the correspondence or at the start of the next session, I will read it into the public record. It will take five minutes. The public are entitled to see PIMCO's response in view of the fact that its representatives will not be here. We cannot really address any further questions that occur. It will be PIMCO's position and we can put it to NAMA when its representatives are before the committee subsequently.