Oireachtas Joint and Select Committees

Wednesday, 24 October 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Role and Functions of NAMA: Discussion

2:30 pm

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour) | Oireachtas source

To conclude with some supplementaries on the issue. I assume, Mr. Daly has asked those parties who received that information to return it, for what it might be worth, even if it was communicated electronically. He said an investigation was carried out on whether it may have travelled on to other people. Is that investigation closed or is there an ongoing investigation that there may be other parties or entities within the structure that may need further examination? Have those who received the data been excluded from other transactions dealing with NAMA? Are they people with whom NAMA will have a difficulty in doing business in the future or has there been a prohibition on NAMA dealing with them?

Is it an offence to receive or retain data which is confidential to NAMA, which was the case in this situation? The issue of private purchases by staff was mentioned. Mr. Daly referred in his statement to things being retrospectively dealt with and stated that it is now only possible for NAMA staff to acquire properties in which they propose to reside. Prior to the putting in place of this protocol, were properties acquired by NAMA staff?

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