Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

My understanding is that there are 96 funds holding Irish property assets worth circa €10 billion. That information was provided by the Central Bank. We can request that the Central Bank disclose the identity of the 96 entities concerned. In terms of who we are seeking to capture in the context of section 22, these are players who have built up a large portfolio, the number of which is expected to be less than 96. There will be a change in the timeframe as this amendment takes effect and they become IREFs. There will be a possibility for a second look at this in the future in that, after the amendment has come into effect, we will then know how many companies have registered as IREFs with the Central Bank. We can ask the Central Bank if it can disclose the list of 96. It will be up to the Central Bank what it does in that regard.

In regard to funds moving from short-term to long-term investments, the difficulty is that some of them have debts and they will not able to make the type of change-over. That will not be possible.