Alan Shatter (Dublin South, Fine Gael) | Oireachtas source

In response to Deputy Flanagan, I have no difficulty raising the matter again with the Attorney General, but I am not optimistic of getting a different answer. Also, I do not believe yesterday's judgment prescribes any roadmap that would indicate the answer would be different.

Reference was made by Deputy Calleary to NAMA. When it proved impossible for us to progress the legislation on this issue, NAMA agreed to play a role in dealing with problems caused by upward-only rent reviews applying to properties held by it. This role applies where tenants of NAMA debtors can show that the rents they are paying are in excess of current market levels and consequently the viability of their businesses is threatened. In such circumstances, tenants can seek NAMA's approval for rent reductions. I have been advised that by the end of 2012 the agency had granted 212 applications for rent abatement, with an aggregate annual value of €13.5 million. A further 56 applications are currently under review. Of the 276 eligible applications received to date, only eight have been refused, representing a 97% approval rate by NAMA. This initiative, taken by the current Government, has been effective in dealing with NAMA-related properties.

One of the difficulties with rent reviews is the absence of readily accessible accurate information to determine the market rent payable in respect of comparable commercial properties. The Property Services (Regulation) Act 2011 addresses this issue by providing for the establishment and maintenance of a commercial leases database by the Property Services Regulatory Authority. Such a database has already been provided in respect of family homes. Work is under way to ensure that this database will be operational at an early date. I do not have a definitive date for when it will be operational-----

See this speech in context