Results 24,661-24,680 of 26,148 for speaker:Kieran O'Donnell
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Kieran O'Donnell: I move amendment No. 1 to Seanad amendment No. 11: In line 2, subsection (1), after "NAMA" to insert "or any group entity of NAMA".
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Kieran O'Donnell: I agree with Deputy Burton on the issues. The amendments drafted by the Minister made no reference whatsoever to the SPVs so I tabled an amendment to relate to group entities because I expect that SPVs will do all the work of NAMA and effectively will be NAMA. We could have a situation where the legislation refers to NAMA but people could be employed by the SPVs; the legislation would be...
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Kieran O'Donnell: Does the Government have approval?
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Kieran O'Donnell: Three amendments are going back.
- 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.
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Kieran O'Donnell: This is related to the valuation.
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Kieran O'Donnell: It is critical that the appointees to the valuation panel have the expertise to ensure grossly overvalued assets are not transferred to the agency. The Minister could have demonstrated to the public that he had deferred to an Oireachtas committee. His arguments do not stand up to scrutiny. He should appoint the panel in consultation with a committee to ensure the public is absolutely...
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Kieran O'Donnell: I move amendment No. 1 to Seanad amendment No. 10: 1. To delete subsection (2) and substitute the following: "(2)(a) Guidelines made under this section may include but are not limited to: (i) credit for start-up enterprises; (ii) the frequency of declined cases and the criteria that has been used to decline cases; (iii) the renegotiation of existing credit lines and the terms that have been...
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Kieran O'Donnell: I welcome the Minister's amendment. In the current circumstances, the amendment needs to be prescriptive. The guidelines should be agreed with the financial institutions before their loans are transferred to NAMA. The guidelines will not work if they are agreed after the transfer of loans. During the debate on Report Stage, the Minister assured the House that the guidelines were not...
- 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 â¬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.