Oireachtas Joint and Select Committees

Thursday, 22 November 2012

Public Accounts Committee

2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 4 - National Pensions Reserve Fund
Chapter 25 - Accounts of the National Treasury Management Agency
National Treasury Management Agency - Financial Statements 2011
National Pensions Reserve Fund Commission - Financial Statements 2011

1:00 pm

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

On reflection of the Chairman’s comments, it is now time for the NTMA to put in place a system, outside of the way in which it appoints transition agents, whereby the original contract notes from the agents that sold the shares on the bank’s behalf were attached to the NTMA’s summary sheet. It is incumbent on the agency to put its own proper verification systems in place, particularly when one considers €4.7 billion and €2.6 billion of taxpayers’ money fell down a black hole. Will it give a commitment to put such a system in place and ensure the agency is the final arbitrator in such matters?

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