Brendan Howlin (Wexford, Labour) | Oireachtas source

I thank Deputy Murphy. It is encompassed and I hope it will be satisfactorily dealt with when the questions are asked but we need to get the legislation enacted first. I genuinely do not want to make any political points about this but this is pushing back a huge set of boulders against a degree of resistance and it is an extremely good platform to have. We will not agree on every aspect of it but I think we are coming at it from the same direction. This is not absolutely perfect from every degree and no doubt there will be an amending Bill some time in the future. Please God, I will bring one in. However, it is an extraordinary advance on where we were and where we are now.

In regard to the NAMA agent, the independence of a receiver or an administrator from a lender is dictated by statute - by section 149(1) of the National Asset Management Agency Act 2009, section 108(2) of the Land and Conveyancing Law Reform Act of 2009 and section 316(a) of the Companies Acts 1963 to 2012. As I already indicated, they are independent in the carrying out of these designated legal functions.

In regard to the LRC and the letters, I think Deputy Fleming acknowledged that it is a rather big sledge hammer to crack a particular bone - I am mixing my metaphors - to bring the LRC under the ambit-----