The former Fianna Fail government press secretary, Mr P.J. Mara, has told the tribunal that the idea of a "price list" for radio licences, as suggested by the co-founder of Century Radio, Mr James Stafford, was "madness".
Mr Mara, government press secretary from 1987 to 1992, appeared before the tribunal to answer questions as part of inquiries in the so-called Century Radio module yesterday.
Mr Stafford has alleged that Mr Mara and former minister for communications Mr Ray Burke operated a "price list" and expected to be paid for the award of commercial broadcasting licences.
Mr Mara and Mr Burke both deny the allegation, which Mr Stafford has admitted was "hearsay".
Yesterday, Mr Mara said the idea that he and Mr Burke were going around Dublin like "head waiters" with a price list for radio licences was "madness". The idea that they were taking payments was "dangerous calumny" and "malicious falsehood".
He was asked by Ms Patricia Dillon SC, for the tribunal, about his interest in Century Radio and the reason his name had appeared on a stockbroker's confidential mailing list for the "placement document" for the company which was circulated in August 1989.
Mr Mara said he believed his interest was purely "curiosity". It was "certainly not for investment purposes" and was not for any official purpose.
Mr Mara agreed he previously had informal discussions with his friend, a co-founder of Century Radio, Mr Oliver Barry, about the company in late 1989 or early 1990.
His memory of what passed between himself and Mr Barry of Century Radio was "probably less perfect" because the conversations had taken place 11 years ago. The circumstances of the conversations would "obviously have been social" because he and Mr Barry had been friends.
He said the discussions may have involved such things as the challenges the radio business faced and how it was doing.
Mr Mara said he then indicated to Mr Barry he was interested in leaving the public service and setting up his own consultancy. He had indicated he would be interested in getting involved with Century.
These conversations were always with Mr Barry alone and had not involved Mr Stafford until a later meeting with him, financier Mr Dermot Desmond and Mr Barry in Mr Desmond's office.
Ms Dillon put it to him that, at that time, Century was effectively bankrupt and that the two co-founders were contributing to running it "out of their own pockets".
Mr Mara said he had read about it and knew "things weren't easy". He had taken the view, however, that Mr Barry, as a successful promoter, and Mr Stafford were "men with deep pockets".
Asked whether Century was the first company to which he had made such an overture, Mr Mara said it was.
Ms Dillon put it to him he had approached a company which he knew from the newspapers was "if nothing else, in serious financial difficulty". Mr Mara said he was "not that focused on that". He had become involved with companies in financial difficulties which had later been restructured. He still thought he could "bring something to the party".
He agreed his evidence of the consultancy fee he had sought from Mr Barry did not tally with Mr Barry's evidence. Mr Mara said he had sought a consultancy fee of £60,000 to £70,000 a year, with half the money "up front" and also stock options in Century at a favourable price.