Colm Burke (Cork North Central, Fine Gael)
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I thank the Chairman and our guests for their presentation and the documentation that they have furnished to us.

On non-competitive procurement, in the statement of internal control for 2019, approved derogations were to the tune of €5.1 million. In 2018 it was €8.6 million. The derogations for legal services were €3.9 million and in 2018 it was €7.4 million. For the benefit of the committee, can Mr. McDonagh outline the steps involved in the derogation process and what the values for thresholds are for derogations that require to be approved by the NAMA board? Can he also explain the reason where a service provider had prior and existing knowledge of the debtor and outline what this refers to, please?