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Public Accounts Committee: Business of Committee (9 Jul 2015)

John McGuinness: Yes, at 2 p.m.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: I advise the witnesses that they are protected by absolute privilege in respect of the evidence they are to give this committee. If they are directed by the committee to cease giving evidence in relation to a particular matter and they continue to do so, they are entitled thereafter only to a qualified privilege in respect of their evidence. They are directed that only evidence connected...

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: They are all very welcome. Before I ask the Comptroller and Auditor General for his statement, I remind members, witnesses and those in the Visitors Gallery to please turn off their mobile phones.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: I thank Mr. McCarthy. I now call Mr. Frank Daly to make his opening statement.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: Mr. Reid has made these letters available.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: Can he just tell us what they are?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: Okay.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: Okay. Mr. Daly mentioned a memorandum of understanding in his opening statement.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: That is not here.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: Can we have a copy of that?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: It would be helpful for the meeting if we had a copy. Deputy Ross is the next speaker.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: I know. I was just indicating to Deputy McDonald that Deputy Ross will be called first.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: Maybe we will hear Mr. McDonagh's statement next. I suppose it will clarify what we had and what had been given to us. I reiterate that a copy of the memorandum of understanding is not here. Perhaps it can be copied for the members. I would like to raise one other question for the purposes of clarification, seeing as we are sharing the documents. Are the minutes of meetings of the...

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: Yes.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: I think it would be helpful.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: We just want them for the purposes of this meeting.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: Yes.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: If Mr. Daly could provide that information-----

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: It would be helpful to know who attended-----

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

John McGuinness: -----and how this sale was managed, thought of or spoken about.

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