Oireachtas Joint and Select Committees

Wednesday, 22 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

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

All right. Just one other related matter to that. After the valuation had been applied and the haircut had been put in place and all the rest of it, there was an intention at the time for the Government to bring in a reform to the upward-only rent review legislation. There would have been concerns, and for a number of different reasons but one would've been that this could have an impact upon the asset base of properties because of the rental income that was being derived off them. Did NAMA at any time approach Government - the Department of Finance - and express a concern with regards to reforming the upward only rent review?

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