Catherine Murphy (Kildare North, Social Democrats) | Oireachtas source

The Minister said on a number of occasions, although he later qualified it, that he had no legal function in the commercial activities of NAMA. However, he has a legal function under the Act to direct NAMA in situations where he is protecting the taxpayer. That can only be done in real time, not retrospectively.

To return to the process, this was a bundled sale of a very large portfolio. How can the Minister protect the taxpayer if he does not have some knowledge of what is being bundled? In such a very large transaction how does he ensure this aspect of the NAMA Act relating to the Minister's function is something he can carry out in real time? Otherwise, what is the point in having it in the NAMA legislation?