Seanad debates

Wednesday, 11 November 2009

National Asset Management Agency Bill 2009: Committee Stage (Resumed)

 

12:00 pm

Photo of David NorrisDavid Norris (Independent)

As it has been discussed, it would be completely wrong for me to revisit it, but since I am a very naughty boy, that is what I propose to do. Even though I do not agree with the amendment, I suggest it would be better if the wording was changed. It states: "Guidelines issued under this section shall be approved by the Oireachtas...". That is telling the Oireachtas it must approve them. What would happen if the guidelines were a complete load of rubbish? Could they be thrown out? The amendment should read: "Guidelines issued under this section must be approved by the Oireachtas commission on NAMA before issuance". In other words, they could not be issued until they were approved. The logic behind this amendment seems to be that the commission must approve everything. However, I suppose this is an academic point because the amendment is not going to get anywhere. However, as a retired academic, I like making these points.

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