John McGuinness (Carlow-Kilkenny, Fianna Fail)
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We now move on to our engagement on the banking sector in Ireland with Mr. Gerry Mallon, chief executive officer of Ulster Bank. I welcome Mr. Mallon and his colleagues, Mr. Paul Stanley and Mr. Andrew Blair. I also thank him for the information provided in advance of this meeting in response to questions from the committee which will form the backdrop to this meeting.

I remind everybody to switch off mobile phones because they interfere with the recording and transmission of the proceedings. I wish to advise the witnesses that by virtue of section 172)(l) of the Defamation Act 2009, they are protected by absolute privilege in respect of their evidence to this committee. However, 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 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. I now invite Mr. Mallon to make a brief opening statement.