Mr. Des Carville:

The Comptroller and Auditor General is correct. Under the National Asset Management Agency Act, it was very clear that one could not transact with the underlying borrower.

What NAMA would do is conduct an open market sales process to give maximum price discovery and some entity would ultimately end up buying the loan. As to what happens after that, if we felt there was something untoward, there are powers under the NAMA Act for NAMA to take further action. If the Deputy has specific concerns or examples she would like us or NAMA to look at, we would certainly do that, and quite vigorously, I suggest.