Results 1-20 of 10,211 for nama

Written Answers — Department of Finance: NAMA Social Housing Provision (23 Jun 2016)

Michael Noonan: It is important not to confuse Section 2, the purposes of the NAMA Act, with Section 10, the purposes of NAMA and that the purposes of NAMA were established in fulfilment of the purposes of the Act. It is precisely through the establishment of NAMA's commercial mandate that the purposes of the Act, including "to contribute to the social and economic development of...

Other Questions: NAMA Assets Sale (23 Jun 2016)

Michael Noonan: NAMA's purpose and objectives are set out in the NAMA Act as established by the Oireachtas. NAMA's primary objective is, as per section 10 of the NAMA Act, to obtain the best achievable financial return for the State and to deal expeditiously with its assets in achieving this objective. The strategy which NAMA adopts in pursuing its objectives is a matter for the...

Written Answers — Department of Finance: NAMA Operations (16 Dec 2016)

Michael Noonan: The most recent details on NAMA's remaining portfolio are available in the Agency's quarterly accounts for Q2 of 2016.  This is published on the NAMA website via: . Page 44 of the report and accounts provides details on NAMA's outstanding loanbook.  I expect to receive NAMA's report and accounts for Q3 of 2016 in the coming week and expect to lay that report before the...

Written Answers — Department of Finance: NAMA Operations (28 Feb 2017)

Michael Noonan: NAMA was established as an independent commercial body to operate under the direction of its Board of Directors, in accordance with the NAMA Act. Under Section 10 of the NAMA Act, NAMA is mandated to act in a commercial manner to obtain the best financial return for the State.  As such, NAMA's dealings with its debtors, as well as the management, funding and sale of assets are all...

Written Answers — Department of Finance: NAMA Operations (17 Sep 2014)

Michael Noonan: I have made four of the ten direction orders to NAMA under the NAMA Act.  I have also made four direction orders to NAMA under the IBRC Act 2013.I have set out the details of each direction below. A copy of each Direction Order was laid before the Houses of the Oireachtas and published in Iris Oifigiúil at the time. Directions made by me...

Written Answers — Department of Finance: NAMA Operations (13 Apr 2017)

Michael Noonan: NAMA's commercial funding activities with respect to housing delivery are referenced in the Infrastructure and Capital Investment Plan (2016-2021) under "Non Exchequer Investment".  In other words, such funding has not been provided under the Capital Plan nor through direct Exchequer expenditure. Rather, it is provided by NAMA in line with its commercial mandate under Section 10 of the...

Written Answers — Department of Finance: NAMA Assets Sale (23 Jun 2016)

Michael Noonan: NAMA's purpose and objectives are set out in the NAMA Act as established by the Oireachtas.  NAMA's primary objective is, as per Section 10 of the NAMA Act, to obtain the best achievable financial return for the State and to deal expeditiously with its assets in acheiving this objective.  The strategy which NAMA adopts in pursuing its objectives is a matter...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Ms Ann Nolan: I thank the committee for inviting us here. I am here with Des Carville and Declan Reid, as the Chairman has already mentioned. I want to begin by discussing the balance between NAMA's independence and accountability and how this informs NAMA's relationship with the Department of Finance. NAMA was established under the National Asset Management Agency Act 2009 as a...

Written Answers — Department of Finance: NAMA Operations (8 Feb 2017)

Michael Noonan: NAMA's tax affairs, and the legal structures it utilises to carry out its mandate, are a matter for NAMA to determine within the perimeter of its mandate and applicable law, including tax law. As we know the establishment of Section 110 companies is completely legal as it is permitted under Irish law and tax codes.As we also know, this House recently moved to change legislation...

Written Answers — Department of Finance: NAMA Operations (4 Apr 2017)

Michael Noonan: ...Nos. 69, 70, 79 and 87 together. I would refer the Deputies to my comments made at the opening of the debate last week on the report of the Committee on Public Accounts regarding the sale of NAMA's Project Eagle portfolio, where I expressed my views on the recent criticism of NAMA following publication of a report commissioned by an ex-debtor of NAMA. Deputies will be aware that...

Seanad: Message from Dáil (12 Nov 2009)

Pat Moylan: ...inclusive, made by Seanad Éireann to the National Asset Management Agency Bill 2009. Dáil Éireann has agreed to amendment No. 11 with the following amendments: In line 2, subsection (1), after "NAMA" to insert "or a director or employee of a NAMA group entity". In line 8, paragraph (c), after "NAMA" to insert "or a NAMA group entity". In lines 12 and 13, subsection (2), to delete...

Written Answers — Department of Finance: NAMA Operations (14 Jul 2015)

Michael Noonan: ...Question No. 133 on 23rd June 2015, and as was widely publicised at the time of its publication, through press conferences and broad media coverage, my officials have indeed produced a special report on NAMA's activities in compliance with Section 227, subsection 3, of the NAMA Act. This report was published and laid before the Houses of the Oireachtas on...

Written Answers — Department of Finance: NAMA Staff Data (30 Nov 2017)

Paschal Donohoe: As outlined in my response to Dáil Question No. 199 of 20 September 2017, the NAMA voluntary redundancy scheme, which includes a retention element, was established to help safeguard NAMA’s performance, aid the Agency in retaining its operational capabilities through the retention of key staff during the course of its disposal strategy, and allow NAMA to fulfil its objective...

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Ms Ann Nolan: Okay ... well, when we liquidated we didn't know we could sell all the assets. So, if the assets sold or ... the assets would be transferred to NAMA ... What happened was, the flow ... the Central Bank had a floating charge on the assets; the floating charge was sold to NAMA in return for NAMA bonds, so then the Central Bank had NAMA bonds. So the Central Bank was okay from...

Written Answers — Department of Finance: National Asset Management Agency (3 Nov 2020)

Paschal Donohoe: I am advised by NAMA that they do not typically own or sell properties. Rather NAMA’s role is as secured lender and the properties securing NAMA’s loans remain under the control of their registered owners, or in the case of enforcement, the appointed receiver. The Deputy will be aware that I, as Minister for Finance, have no role in respect of NAMA's commercial operations or...

Written Answers — Department of Finance: National Asset Management Agency (13 Feb 2024)

Michael McGrath: As the Deputy may be aware, NAMA does not typically own or control properties; rather NAMA owns loans for which properties act as security. The properties securing NAMA’s loans are owned and controlled by their registered owners, or appointed receivers in the case of enforcement, and these parties are responsible for the sale of secured properties. I am advised that NAMA retains a...

Written Answers — Department of Finance: Tax Code (7 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 189 to 192, inclusive, together. NAMA's tax affairs, and the legal structures it utilises to carry out its mandate, are a matter for NAMA to determine within the perimeter of its mandate and applicable law, including tax law.  As we know the establishment of Section 110 companies is completely legal as it is permitted under Irish law and tax codes....

Written Answers — Department of Finance: NAMA Portfolio (13 Jul 2017)

Paschal Donohoe: ...to take Questions Nos. 112 and 197 together. I currently have no plans to wind down the Agency prior to, or beyond, its current expected time frame. It is too early to speculate whether NAMA will have made sufficient progress on its three primary business lines - ongoing deleveraging; Dublin Docklands SDZ programme; residential delivery funding...

Written Answers — Department of Finance: NAMA Assets Sale (18 Nov 2015)

Michael Noonan: The carrying value of NAMA loans and receivables as at 30thJune 2015 was €11.275 billion.  This comprises gross loans and receivables of €14.7 billion and loan impairments of €3.47 billion.  Further analysis on this is available in Note 14, p. 29, of NAMA's Quarterly Report and Accounts for the period to end June 2015.  These accounts are available on...

Written Answers — Department of Finance: NAMA Code of Conduct (2 Dec 2014)

Michael Noonan: The NAMA Code of Practice and Professional ConductOfficers of NAMA (the "Code")was adopted by the NAMA Board at its meeting of 7thJanuary 2010.  The Code, which is reviewed annually, underscores NAMA's commitment to the highest standards of conduct and has been prepared to assist its personnel in understanding their duties, rights and obligations in the conduct of their work.  It...

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