Results 1,461-1,480 of 26,021 for speaker:Kieran O'Donnell

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

Kieran O'Donnell: If that is the case, then why include the amendment and the reference to "any applicable law"? Surely, a subsidiary must comply with the law that appertains in such a jurisdiction?

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

Kieran O'Donnell: The danger here is that NAMA will effectively become a monopoly, as the largest property developer in Ireland, Europe and the world. It is extremely challenging. The Bill refers to "acquire and dispose of property", "make any planning application in relation to land", "undertake development for the purpose of realising the full value of any asset" and "carry on any business that NAMA...

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

Kieran O'Donnell: Welcome.

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

Kieran O'Donnell: In respect of the €5 billion available to NAMA as development capital, how long will it take the Minister to develop and lay before the House a detailed business plan for the disbursement of this money? I welcome the Green Party Members to the House. Deputy Cuffe is like a sunshine player in that he flits in and out. The Green Party Deputies remind me of Animal Farm in being more Fianna...

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

Kieran O'Donnell: This is a serious debate.

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

Kieran O'Donnell: It has been proven that humour improves creativity.

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

Kieran O'Donnell: I was not aware of that but I defer to the Deputy.

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

Kieran O'Donnell: Did Deputy Burton ever hear the story of the emperor's new clothes?

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

Kieran O'Donnell: It applies to our current situation. This is a serious debate and Deputy Cuffe should be in attendance.

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

Kieran O'Donnell: The debate on NAMA is still ongoing.

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

Kieran O'Donnell: Given Deputy Gogarty's dissatisfaction with developers and the type of building that took place in recent years, I suspect he will vote against the Bill.

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

Kieran O'Donnell: I ask the Minister of State to elaborate on the changes made by the amendments. What is the purpose of the finance committee? What will be its membership? I assume this ties in with the quarterly reports. What will be the precise functions of the finance committee?

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

Kieran O'Donnell: The section states the members of the credit committee and the finance committee shall be members of the board or officers of NAMA and at least two members of each of those committees shall be members of the board Normally reporting to the board is done through the financial controller, who would have his or her own team. In many cases the financial controller might also be a member of the...

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

Kieran O'Donnell: This relates to the establishment of a finance committee within NAMA. As Deputy Burton has stated, we have discussed the SPVs at length, and they will be for all intents and purposes the operational vehicle of NAMA. The SPVs will consider day to day activity and all the powers will effectively be delegated to the SPVs. There will be a master SPV and a number of subsidiaries, baby SPVs,...

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

Kieran O'Donnell: I move amendment No. 1 to Seanad amendment No. 9: In line 2, subsection (4), after "knowledge if" to insert the following: "following consultation with any Committee of the Houses of the Oireachtas established to monitor Acts done in the furtherance of this Act, the Minister is of the view that". During the Committee Stage debate in this House, the Minister took on board the possibility that...

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

Kieran O'Donnell: Our amendment is not dependent on the Government appointing an Oireachtas committee by statute; it could be any committee. The amendment was purposely structured in that fashion. The reference is to "any Committee of the Houses of the Oireachtas established to monitor Acts done in the furtherance of this Act". Nothing in this amendment would affect the workings of NAMA as envisaged by the...

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

Kieran O'Donnell: It is by way of observation.

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

Kieran O'Donnell: I am sure there are tax experts who would not like to be referred to as accountants.

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

Kieran O'Donnell: My amendment to amendment No. 9 proposes that the Minister will appoint the valuation panel in consultation with an Oireachtas committee. As such, the committee will function as a back-up for the Minister and will ensure the appointment process is above reproach. That is precisely what the public is seeking and it is necessary to restore trust in banking institutions. The Minister of State...

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

Kieran O'Donnell: I am following the Minister of State's audit trail regarding valuations.