Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

As the Deputy knows, NAMA operates under the NAMA Act and, in general, it operates totally independent of politics. The Deputy knows that while one may inquire for information from NAMA, it is a criminal offence to make representations to NAMA. The same rules apply to the Minister for Finance as to everybody else, apart from the specific bars the Minister has under the Act. The way I proceed is that the chairman of NAMA, Mr. Frank Daly, keeps me informed of all the major issues. When required, I seek the advice of the gentlemen I appointed to advise me in accordance with the Act, sometimes on the telephone or, about once a quarter, they come in and we have a formal meeting on that basis. That is the way it works. There is a general awareness of what is going on. As I said, it is a property organisation that is operating independent of politicians, but it is, of course, accountable to the Dáil. Its CEO and chairman report to the Dáil committee quite frequently and they report to the Minister on an ongoing basis.

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