Brian Stanley (Laois-Offaly, Sinn Fein)
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This morning we are engaging with witnesses from the National Asset Management Agency, NAMA. I welcome our witnesses to today’s meeting and thank them for the briefing they have provided to the committee.

The focus of today’s meeting is NAMA’s financial statements for 2019, and the Comptroller and Auditor General's special report 109 on NAMA’s management and disposal of the Project Nantes loans, a matter that was raised with the last Committee of Public Accounts.

With regard to public health guidelines, we are joined in person by Mr. Aidan Williams, chairman, Mr. Brendan McDonagh, chief executive officer, and Mr. Jamie Bourke, head of strategy and communications. We are also joined remotely by Ms Noelle Condon, chief financial officer with the NTMA.

I remind all those in attendance that all mobile phones must be switched off. I also ask that members and witnesses remove their masks when speaking as the masks interfere with the quality of the sound. When members are leaving and taking their seats, I also ask that they sanitise their area.

I wish to 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 this committee. If they are directed by the committee to cease giving evidence in relation to a particular matter and 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 you are asked to respect the parliamentary practice to the effect that, where possible, witnesses 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.

Members are reminded of the provisions within Standing Order 218 that the committee shall also refrain from inquiring into the merits of a policy or policies of the Government or a Minister of the Government or the merits of the objectives of such policies.

Members are also 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 Houses or an official either by name or in such a way as to make him or her identifiable.

While we expect witnesses to answer questions asked by the committee clearly and with candour, witnesses can and should expect to be treated fairly and with respect and consideration at all times, in accordance with the witness protocol.

I invite Mr. McCarthy to make his opening statement.