Results 6,701-6,720 of 40,550 for speaker:Joan Burton

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: I move amendment No.12: In page 17, between lines 17 and 18, to insert the following: 3.—Every 30 days NAMA shall report to Dáil Éireann setting out details of its operation including the identities of the owners of, and particulars (including value) of, any assets acquired by it during the period in question valued at over €100,000.". As we know, NAMA is taking over loans, good and...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: It is not a symbolic gesture.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: The taxpayer is not taking them on, that is the difference.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: To set the record straight, the NAMA draft business plan is constructed around the notion of significant tranches of loans being transferred from the banks to NAMA in 30-day periods, so that by the end of July, it is anticipated that the €54 billion in loans or the bonds will be issued. Therefore, it is the structure of the Minister's proposals that gives rise to the response of a 30-day...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: There are not many accountants or business people but there are an awful lot of lawyers in the Government. I do not recall commercial hearings in this country being held in camera, except for family law cases so this is a massive restriction on information. If the Government does not want people to riot in the streets, something none of us wants, it must be willing to explain to people who...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: Will the Minister of State comment briefly on the in camera court provisions in the Bill? What is the reason for that in the commercial court?

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: I asked that specific question.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: This is connected because we had a useful discussion about default as opposed to compliance. If, for instance, people in default are the subject of court proceedings, which they might well be, the Bill has several provisions such as section 207 making it possible for institutions that are not compliant to have their cases heard in camera, with the agreement of the judge. I am not a lawyer...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: While it is allowed under the Constitution it is not our tradition in civil court proceedings.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: I move amendment No. 13: In page 17, between lines 17 and 18, to insert the following: 3.—Notwithstanding any provision of this Act, no person may participate in acquiring any benefit or advantage under this Act unless such person is tax resident within the State and has complied with his or her tax liabilities to the State.". This is another fundamental amendment and because it was also...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: We could be coming to incorporeal meetings pretty soon.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: Was the Minister, Deputy Gormley, not in bed but present incorporeally at the meeting at which the guarantee was decided?

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: Yes.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: Yes, but I would like to respond briefly. I thanked the Minister already but I want to formally record my thanks to him for moving to the quarterly reporting basis in respect of NAMA. It is very helpful. It is wrong, however, to delay the publication of the quarterly information for another three months. That is regrettable. The public service has to get used to real time. Such delay is...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: Agreed.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: On a point of order, in the course of the discussion on Committee Stage we were asked by the Minister and the Bills Office to move our amendment, which was the same as the Sinn Féin amendment No. 85 in the valuation section. I suggest that amendments Nos. 82 to 87, inclusive, be taken now along with amendment No. 16 so that we deal with the valuation issues relating to market value and...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: At the request of the Minister and the Bills Office-----

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: It is to deal with market value and long-term economic value.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: Where is the Minister? There are only two hours left.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Joan Burton: We are trying to speed up matters to get to the really important issues.