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Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Ciarán Lynch: That matter has been covered.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Ciarán Lynch: I wish to make an interjection. Earlier today Mr. Daly gave a very detailed presentation on the matter and I can pass that on to Senator Coghlan, which should cover that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Ciarán Lynch: Representatives of the banks will be before us next week and Deputy O'Donnell can ask them.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Ciarán Lynch: We will bring matters to a conclusion. I will allow some brief supplementary questions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Ciarán Lynch: That concludes questions. As agreed at the beginning of the meeting we will now go into private session.

Leaders' Questions (25 Oct 2012)

Ciarán Lynch: Give him as much time as he likes.

Written Answers — Department of Health: Medical Cards (25 Oct 2012)

Ciarán Lynch: To ask the Minister for Health the protocol that applies to the issuance of repeat prescriptions for persons on medical cards; if prescriptions are normally issued weekly, monthly, bimonthly or for longer periods; and if he will make a statement on the matter. [46916/12]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee (31 Oct 2012)

Ciarán Lynch: As this meeting is being broadcast on UPC Channel 207, is it agreed to defer the private session to 1 p.m. before we break for our sos? Agreed. Apologies have been received from Deputies Jim Daly, Stephen Donnelly and Mary Lou McDonald and Senator Sean Barrett.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: I welcome Mr. Alan Dukes, chairman, and Mr. Mike Aynsley, chief executive officer, from the Irish Bank Resolution Corporation Limited. I remind members, witnesses and those in the Visitors' Gallery that all mobile phones should be switched off. This meeting is being broadcast by UPC on Channel 207 and mobile telephones that are switched on will interfere with the broadcast and seriously...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: I thank Mr. Dukes. I have a few items to deal with before we get things under way. Is it agreed that the opening statements made this morning will be published? Agreed. As this part of the meeting will conclude at 1 p.m., I must ensure that I will accommodate all speakers who present themselves. I propose that the first round of speakers from both the Government and Opposition sides be...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: In that context, the witnesses might provide the joint committee with a broader explanation or understanding as to how the Irish Bank Resolution Corporation, IBRC, operates at present. It also has a property portfolio, to which Mr. Dukes referred, in its capital base. How extensive is that property portfolio? Unlike the other banks that will appear before the joint committee and which are...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: How many of the aforementioned properties are located in the Irish State?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Okay. For how many of those properties is the IBRC acting as landlord?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Yes, where IBRC has a landlord relationship with the client in occupation of the dwelling.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: The IBRC is landlord to 100 different businesses across the State that are renting.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: When the Minister for Finance, Deputy Noonan, made his announcement last year with regard to NAMA being obliged to deal with upward-only rent reviews and to take a more positive position in that regard, was that announcement extended to the IBRC?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Has there been an incidence in which a client or tenant of the IBRC has received a reduction in rent since headline rents were introduced in 2005 or 2006 or thereabouts?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Have there been reductions?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: I imagine because of the nature of companies that may be based in the State. The parent company might be located outside the Republic of Ireland and the bank's rental agreements may be signed with the parent company outside the State. In dealing with companies within the State I imagine all companies in the aforementioned property portfolio of 100 would be looking for a rent reduction as,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: What percentage?

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