Results 11,681-11,700 of 16,537 for speaker:Brian Lenihan Jnr

Seanad: National Asset Management Agency Bill 2009: Report and Final Stages (11 Nov 2009)

Brian Lenihan Jnr: With respect, there is a substantial change. Market values have fallen dramatically; the values of the lands required for these purposes are often very low. Extortionate demands were placed on the Department of Education and Science for the acquisition of lands for school sites. That will not apply in this Bill because NAMA will be in a position to give a first opportunity to the relevant...

Seanad: National Asset Management Agency Bill 2009: Report and Final Stages (11 Nov 2009)

Brian Lenihan Jnr: It must be done in a transparent and up-front way. The different public authorities must pay a reasonable price for whatever is being required in order that the NAMA operation proceeds with its correct commercial purposes. There is ample power under the Bill to deal with the specific issue raised by Senator Mullen, that of emergency housing, transitional housing and the acquisition of...

Seanad: National Asset Management Agency Bill 2009: Report and Final Stages (11 Nov 2009)

Brian Lenihan Jnr: One does not know what collateral could be out there.

Seanad: National Asset Management Agency Bill 2009: Report and Final Stages (11 Nov 2009)

Brian Lenihan Jnr: We have covered most of the points. I would say to Senator Mullen that I propose to exercise my powers and I am satisfied that the powers are available already. The introduction of this additional material will confuse the issues in regard to putting an obligation on the agency to always offer land, irrespective of the circumstances.

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Brian Lenihan Jnr: Perhaps I could assist Deputy Burton. Does she have the grouping of the amendments?

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Brian Lenihan Jnr: There are ten groups of amendments before the House that relate to amendments accepted in Seanad Éireann. Under the procedures of this House, subject to the ruling of the Leas-Cheann Comhairle, each amendment is considered separately.

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Brian Lenihan Jnr: Yes and there are five individual amendments.

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Brian Lenihan Jnr: They are not grouped so there are ten substantive items of discussion.

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Brian Lenihan Jnr: The first item of discussion comprises minor technical amendments. The second substantive item relates to the question of sustainable planning, which was an amendment the Labour Party sought in Dáil Éireann and has now been inserted at section 12 of the Bill. The third substantive heading relates to the provision of a finance committee for the board as well as the risk and audit...

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Brian Lenihan Jnr: I will. The minor technical amendments, which comprise the first item for discussion, are Nos. 1, 2, 7 and 8. The Deputy should have a paper with this detail before her. The second amendment on sustainable planning is amendment No. 3. The third item, which provides for a finance committee for the board of the agency, comprises amendments Nos. 4 to 6, inclusive. The fourth amendment on...

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Brian Lenihan Jnr: I had not completed the work programme.

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Brian Lenihan Jnr: I am aware that Members wish to focus on various general and specific matters. Before proceeding, I remind Members of the proposal in some quarters for the abolition of the Seanad. In that regard, it should be noted that Seanad Éireann was able in a much shorter time than the Dáil to move through all Stages, with each section considered in detail in committee, including——

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Brian Lenihan Jnr: I stand corrected. The sixth item is the group comprising amendments Nos. 11 to 13, inclusive, and 15, relating to the whistleblower provisions. I will be pleased to address the concerns expressed by Deputy Burton as to how these provisions relate to another section. Deputy O'Donnell has pointed to the omission of a reference to the NAMA group entity in these provisions. I am willing to...

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Brian Lenihan Jnr: Amendments Nos. 1, 2, 7 and 8 are minor technical amendments introduced on Committee Stage in the Seanad for clarification purposes. Amendments Nos. 1 and 2 clarify the definition of "development" and remove any doubt that land and development loans given by participating institutions in respect of developments outside the State are eligible for transfer. Amendment No. 7 was introduced to...

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Brian Lenihan Jnr: The amendments deal with the designation of assets in participating institutions and, therefore, their purpose is to clarify as a matter of legal definition what assets are transferred to the agency by a participating institution. Deputy Burton raised two entirely separate questions. One relates to the persons who owe money to participating institutions and she suggested by inference they...

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Brian Lenihan Jnr: NAMA does.

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Brian Lenihan Jnr: Theoretically it has the power but I cannot envisage its exercise. It is an unlikely position for NAMA to adopt. The agency has an option not to take particular assets and I can see where that could arise.

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Brian Lenihan Jnr: Yes.

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Brian Lenihan Jnr: It is provided for in the legislation.

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Brian Lenihan Jnr: The figure is €28 billion.