John McGuinness (Carlow-Kilkenny, Fianna Fail)
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We are dealing with item No. 6, which is matters relating to the banking sector. I welcome Mr. Paul Stanley, Mr. Eddie Cullen and Mr. Ciarán Coyle to the meeting, along with their colleagues. I will read out the privilege note and then ask Mr. Stanley to give his opening statement.

I 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. However, if they are directed by the committee to cease giving evidence on a particular matter and they continue to so do, they are entitled thereafter only to a 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 they are asked to respect the parliamentary practice to the effect that, where possible, they should not criticise or make charges against any person, persons or entity by name or in such a way as to make him, her or it identifiable. Members are reminded of the long-standing parliamentary practice to the effect that they should not comment on, criticise or make charges against a person outside the House or an official either by name or in such a way as to make him or her identifiable.