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Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Now I need to break, Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Thank you. It's just coming up to 5.30 p.m. I am just proposing a very short, five-minute break. In doing so, just before we do break, I just need to ... just let Mr. Gray know and inform him that once he begins giving evidence, he should not confer with any person other than his legal team in relation to his evidence on matters that are being discussed before the committee. With that in...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay, I'm going to propose we go straight back into public session. Is that agreed? I just want-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Yes, what?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Quickly now, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: I just want to deal with one ... just one outstanding item, another question, and then I'll bring in Deputy Doherty. Mr. Gray, in your witness statement you advise:In attempting to respond to the crisis, extensive use of external advisers was made by the Department of Finance. This included both international financial and legal advisors. Their advisory reports were not shared with the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: What was the rationale for the suppressing of information for non-executive directors, that there would be this, sort of, editing process? What would you understand this to be rationale?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: And did this lack of confidential information, and some of the information on which you've said you've subsequently seen, impact upon the board's knowledge, its functionality or its performance?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay, thank you. Deputy Doherty.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: There is phone interference there now coming in, folks. Sorry, just one second now.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Last question now, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Thank you. Deputy McGrath, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Sorry-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: The proposition has been made. I'll let Mr. Gray respond to it.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Thank you. Deputy McGrath, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Thank you very much. Senator MacSharry.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Senator Michael D'Arcy.

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