Results 4,841-4,860 of 16,537 for speaker:Brian Lenihan Jnr

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

Brian Lenihan Jnr: This section was introduced to clarify that NAMA will have regard to proper planning and sustainable development in the exercise of its powers which are relevant to those concerns. It was always intended that NAMA would do so and it is appropriate to include a provision to that effect. The provision is contained in section 12.

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

Brian Lenihan Jnr: We have been in office since 1997.

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

Brian Lenihan Jnr: The President often features as well.

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...

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

Brian Lenihan Jnr: That is correct.

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

Brian Lenihan Jnr: There have been many contributions on this amendment. Senator O'Toole introduced the concept of the distribution of assets in specie. I should eliminate that from the debate before dealing with the amendments' merits. Senator O'Toole is of course quite right.

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

Brian Lenihan Jnr: I said I was going to eliminate him before I addressed the merits of the amendment. As Senator O'Toole rightly pointed out, section 12(2)(h) creates a specific power in NAMA to distribute assets in specie to the Minister. I am grateful to Senator MacSharry for providing a good translation of the term; its colloquial meaning is "as is". Senator O'Toole was quite correct on the provenance of...

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

Brian Lenihan Jnr: This section enables NAMA during the termination of its existence to transfer these assets in specie to the Minister. The Minister will hardly put the racehorse into the Exchequer but can decide what to do with it. That is the provenance of this particular power and has nothing to do with social purpose or a social dividend.

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

Brian Lenihan Jnr: That was the issue Senator O'Toole raised. I am grateful to him for raising this interesting question about the provision. The Labour Party's amendment provides for making appropriate assets available for public, community or social use, either free or at a non-commercial cost, or transferring assets to appropriate statutory agencies to facilitate such use. Senator Mullen's amendment is...

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

Brian Lenihan Jnr: They still have to pay market value. Market values have fallen, but they will not be required to pay the ransom values which we witnessed in connection with some sites in recent years. That will be a substantial advance.

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...