Brian Lenihan Jnr (Dublin West, Fianna Fail)

What I am prepared to say is that in the normal practice the Minister must oversee the activities of the agency and report to the Oireachtas on these activities. I do not accept there is any reason to depart from this practice in this case. I agree with Deputy Mulcahy that Oireachtas scrutiny is desirable. However, Oireachtas oversight would interfere not so much with the Minister, but with the board it is proposed to appoint to manage NAMA. So many powers have been conferred on this committee in the main Opposition party amendment that the committee would itself constitute a board of the National Asset Management Agency.

I indicated on Committee Stage that I will consult the Opposition leaders on appointments to NAMA and that I will disclose the names I am considering for the board. Following on last week's debate, an advertisement was placed in the daily national newspapers earlier this week seeking expressions of interest in appointment to the board.

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