Kieran O'Donnell (Limerick East, Fine Gael)

The section states the members of the credit committee and the finance committee shall be members of the board or officers of NAMA and at least two members of each of those committees shall be members of the board Normally reporting to the board is done through the financial controller, who would have his or her own team. In many cases the financial controller might also be a member of the board. Is a committee being established for the sake of it? Will the finance committee present a fait accompli to the board? Normally the financial controller would present the accounts to the board and they would be scrutinised and probed properly.

We have no idea what the membership of the finance committee will be. It is proposed that members of the board, officers of the board or officers of NAMA shall be members of the board. How many people will be on the committee? There are a large number of unanswered questions. My worry is that something unwieldy like the HSE will be created and the figures will not be properly scrutinised.

See this speech in context