Results 61-80 of 9,338 for nama

Written Answers — Department of Finance: State Bodies Code of Conduct (20 Jun 2017)

Paschal Donohoe: ...Code of Practice for Governance of State Bodies ("the Code"), each State Body is required to report non competitive procurements in the Chairperson’s comprehensive report to the Minister. The NAMA Chairman submitted his comprehensive report in conjunction with the NAMA Annual Report for 2016, as required by the Code. I would point out that the information cited in the...

Written Answers — National Asset Management Agency Staff: National Asset Management Agency Staff (2 Feb 2010)

Brian Lenihan Jnr: The NAMA Act 2009 provides that NAMA staff members will be assigned to it from the NTMA. I am advised by NAMA that the NTMA currently has assigned ten staff to NAMA. The NAMA draft business plan published in October 2009 set out details on the proposed staffing in NAMA and its different operational units.

Written Answers — Department of Finance: NAMA Portfolio (17 Jan 2017)

Michael Noonan: Such a direction or legislative change is not necessary as NAMA already plays a significant role in the provision of social housing and housing in general and continuously reviews the assets of every NAMA debtor to establish if properties securing their loans could be utilised for residential development or social housing.   NAMA has an established policy of...

Written Answers — Department of Finance: NAMA Accounts (23 Jun 2015)

Michael Noonan: NAMA is subject to statutory audit by the Comptroller and Auditor General (C&AG) and internal audit by PwC (formerly by Deloitte. NAMA provides a significant level of disclosure regarding its audit functions and accountability in its Annual Reports.  The Deputy may be interested to review the following sections of NAMA's Annual report for 2014, available on NAMA's we...

Written Answers — Department of Finance: NAMA Operations (24 Sep 2015)

Michael Noonan: Section 227(3) of the NAMA Act requires as soon as may be after 31 December 2012 and every 5 years after that while NAMA continues to be in existence, the Minister shall assess the extent to which NAMA has made progress toward achieving its overall objectives, and decide whether continuation of NAMA is necessary having regard to the purposes of this Act. As has been referred to in...

Written Answers — Department of Finance: NAMA Property Construction (20 Oct 2015)

Michael Noonan: I propose to take Questions Nos. 262, 268 and 270 together. Firstly it must be pointed out that NAMA does not own property, and it is not a builder or a developer, nor has NAMA chosen to become one as the Deputy suggests.  NAMA's role in relation to property is, like a bank, that of a secured lender.  As set out in Section 10 of the NAMA Act, NAMA's mandate as a...

Written Answers — Department of Finance: NAMA Operations (23 Jun 2015)

Michael Noonan: As previously outlined in my response to Dail Question 26 on 7th May 2015, I am advised that the NAMA Chief Executive, in his opening address to the Public Accounts Committee on 18 December 2014, stated that NAMA is aiming to redeem a cumulative 80% (€24 billion) of its Senior Bonds by the end of 2016 and that it hopes that it will have redeemed all of its...

Leaders' Questions (Resumed) (12 Jun 2018)

Mick Wallace: Tomorrow, it will be a year to the day since the setting up of the commission of investigation into the National Asset Management Agency, NAMA, under Mr. Justice Cooke. The second interim report landed on the Taoiseach's desk last week, which shows that NAMA does what it likes. Mr. Justice Cooke asked NAMA for the 40,000 documents it gave to the Comptroller and Auditor General for his...

Written Answers — Department of Finance: NAMA Portfolio (10 Oct 2017)

Paschal Donohoe: The Deputy will be aware that NAMA does not, in general, own property.  Rather, NAMA acquired loans for which the properties act as security. Under Sections 99 and 202 of the NAMA Act,  NAMA is prohibited from disclosing confidential debtor information, including information on the location and type of assets owned by debtors. It is therefore not possible to identify...

Written Answers — National Asset Management Agency: National Asset Management Agency (23 Jun 2011)

Michael Noonan: There are sufficient provisions in the NAMA legislation to ensure appropriate accountability to me as the Minister for Finance and to the Oireachtas. The NAMA legislation provides for various reporting mechanisms that underpin the accountability of the Agency to the Oireachtas, including: section 59 which makes provision for the Chairperson and CEO of NAMA to appear before a Committee of...

Written Answers — Department of Finance: National Asset Management Agency (2 Nov 2021)

Paschal Donohoe: I propose to take Questions Nos. 246, 247, 253, 265 and 266 together. As the deputies may be aware, assets often referred to as "NAMA land" or "NAMA properties" are not owned by NAMA. NAMA owns loans. Such property is owned by private persons or companies who owe money to NAMA (“NAMA debtors”) and serves as collateral for those amounts owed. I am advised that Sections 99 and...

Written Answers — Property Transfers: Property Transfers (12 Jan 2011)

Brian Lenihan Jnr: I am aware that the Chairman of NAMA has recently outlined a range of measures which the Agency is adopting in its drive to ensure that debtors meet their obligations. In return for NAMA's ongoing support, NAMA requests from Debtors significant lifestyle changes, the reversal of asset transfers and the granting to NAMA of legal charges over unencumbered assets. I am informed that three...

Written Answers — Department of Finance: NAMA Property Construction (19 Apr 2018)

Paschal Donohoe: At the outset, it is important to note that NAMA does not build residential property. Instead, where commercially viable, it funds residential delivery on sites controlled by its debtors and receivers. In late 2013, NAMA indicated that it aimed to fund the delivery of 4,500 homes on lands controlled by NAMA debtors and receivers over the period to end-2016. By end-2016 this target had...

Written Answers — Department of Finance: NAMA Operations (18 Feb 2014)

Michael Noonan: The acquisition of loans from financial institutions is governed by the NAMA Act 2009 and EU Commission approval. NAMA deploys a complex and highly sophisticated set of operating procedures from the initial acquisition of loans through to the disposal of the loans or the disposal of the property and other assets securing the loans.  I am advised by NAMA that these procedures are outlined...

Written Answers — Department of Finance: NAMA Investigations (11 May 2017)

Michael Noonan: The Deputy will be aware that I, as Minister, do not have a role in NAMA's commercial decisions. However, while respecting NAMA's independence, I and my officials regularly engage with NAMA regarding its performance and strategy. I maintain a regular dialogue with the NAMA Chairman and receive appropriate updates regarding NAMA's ongoing progress and future plans. I also meet on occasion...

Written Answers — Department of Finance: NAMA Property Sales (3 Oct 2013)

Michael Noonan: I do not intend to use my powers under Section 14 of the NAMA Act to direct NAMA on the sale of this property. The property in question was sold at auction on the 27th of September and had been for sale on the open market for some time, which allowed any interested buyer to make their interest known to the seller. As the Deputy will be aware that given the independence afforded to NAMA by...

Written Answers — Department of Finance: NAMA Staff Pensions (18 Sep 2012)

Michael Noonan: I am advised by NAMA that the total cost of pension provisions for NAMA staff in the 12 months ending December 2011 was €1.8m, as disclosed in note 36 of NAMA's 2011 audited financial statements. All NAMA staff are employed by the NTMA and the cost of pension provision represents the employer contributions made by the NTMA to the NTMA Pension Scheme on behalf of staff assigned to...

Written Answers — National Asset Management Agency: National Asset Management Agency (6 Jun 2012)

Michael Noonan: There are NAMA debtors who own properties which are leased to state agencies and who derive income from them. The properties are leased to the State by these debtors on an arms-length basis. NAMA's primary concern is whether a property is generating cash flow that allows interest and principal on the debt to be repaid by a debtor. NAMA advises me that it does not own any properties that are...

Written Answers — Department of Finance: NAMA Operations (16 Jan 2014)

Michael Noonan: The Deputy, as a member of the Dáil Committee of Public Accounts (PAC), will be aware that the Chairman and Chief Executive of NAMA appeared before that Committee on 20th December 2013 and robustly defended the Agency against allegations that had been circulated to certain outlets in the media and to certain members of the Oireachtas during the preceding week. The NAMA Chief...

Written Answers — Department of Finance: State Aid Investigations (30 Nov 2017)

Paschal Donohoe: In late 2015, a complaint was submitted to the Competition Directorate of the European Commission (DG Comp) by a small number of property developers - including some former NAMA debtors - alleging that there may be State aid implications to NAMA's providing financing for the development of commercially viable residential projects by some of NAMA's debtors and receivers. As the...

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