Josepha Madigan (Dublin Rathdown, Fine Gael)
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I acknowledge the Minister's presence here and his contribution. He has withstood rapid-fire successions of questions, and we appreciate his taking the time to respond. I think it is four years since a Minister has appeared before the Committee of Public Accounts. Deputy Brendan Howlin, I believe, was the last Minister to do so.

It is evident from the Minister's clarifications today that NAMA is an independent commercial entity, and it is very important that the committee understand that. The import of the NAMA Act is very clear in that regard, and I very much welcome the statutory commission of investigation, particularly as it relates to the differences between the Comptroller and Auditor General report and the NAMA report. The commission will help us understand what happened. When the Minister says "without delay", is the commission in the process of being set up? Do we know who the chair will be or anything like that? Section 9 is very clear that NAMA is independent in the performance in its functions.

I know there should be no interference in the sales process which is covered under section 10. That is important. I would like to understand the difference between the Department’s oversight of NAMA and ministerial oversight.