Seán Fleming (Laois, Fianna Fail) | Oireachtas source

We made a point of inviting all current and former board members and senior staff. The committee will consider whether this is a good policy for State organisations. Maybe it is, but there is a down side. Sometimes, the organisations can be put at a disadvantage.

We have asked about two sets of board minutes, including those from December.

It would be important that Mr. Daly said that everything of substance was recorded and that if it was not of substance it was not in there. From our point of view it is fundamental that we are satisfied that the official record would be a complete and accurate record of all the decisions of substance. We are entitled to proceed on that basis. On the two meetings we asked about, there are two references. It is on page 111 of the Comptroller and Auditor General's report. It refers to a NAMA board meeting of 8 January 2014. The last sentence in paragraph three states: "As agreed at its 12th December 2013 meeting the Board noted it would not consider the sale of Project Eagle portfolio of loans for a consideration of less than STG£1.3 billion". That was agreed at the NAMA board's December meeting. Page 108 of the same report is entitled "Extract from signed minutes of Board’s 12th December 2013 meeting (Private Session)". There is no reference in that document in respect of the consideration of £1.3 billion. The January minutes state it was agreed at the December meeting, but it is not mentioned in the December minutes. If Mr. Daly is now trying to tell me an agreement about £1.3 billion, which the January minutes state was agreed at December, was not a substantial issue, I am at a loss. Why was that not recorded in the December minutes?