Oireachtas Joint and Select Committees
Wednesday, 24 October 2012
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Role and Functions of NAMA: Discussion
4:50 pm
Ciarán Lynch (Cork South Central, Labour) | Oireachtas source
That relates to a point made by Deputy Fleming on the comparison of problems. In some cases, a landlord, or the developer, may be imposing upward-only rent reviews despite what the Minister for Finance, Deputy Noonan, stated in last year's budget speech. In one case in Cork, involving Harvey Norman and the Irish Bank Resolution Corporation, an effort is being made to apply an increase of 2% per year. What does NAMA do in such cases? Next week, we will be asking the Irish Bank Resolution Corporation what it is doing. What does NAMA do where landlords are trying to invoke upward-only rent review clauses?
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