Seán Fleming (Laois, Fianna Fail) | Oireachtas source

I do not think people fully appreciated the need for a section 172 declaration when the legislation was drafted. It exists on the sale of assets but does not exist, and was not contemplated, for loans. NAMA has put in place some internal structures to try to capture some of that, even thought it is not specifically covered in the legislation.

On Project Nantes, we received correspondence which highlighted the difference between the sale of a loan and an asset. There is a particular distinction, of which we were not aware up to that point. Mr. McCarthy is working on-----