Oireachtas Joint and Select Committees

Thursday, 6 October 2016

Public Accounts Committee

Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed)

11:00 am

Photo of Seán FlemingSeán Fleming (Laois, Fianna Fail) | Oireachtas source

I have one last point on this. I will use a phrase the witnesses have used several times today. There is a reference in the legislation to dealing with the loans "expeditiously". One cannot reconcile saying "expeditiously" and saying everything will be kept until 2020. It was never envisaged in the legislation to keep the whole lot until 2020. As the witnesses have said here all day, the legislation referred to working "expeditiously", with an end date of 2020. It was not a matter of holding everything until 2020. The Comptroller and Auditor General followed what the legislation said in terms of a sales process over the period. This is in the report. Issues arose over how quickly some of the sales would actually happen.

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