Seanad debates

Wednesday, 11 November 2009

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

 

1:00 pm

Photo of Paschal DonohoePaschal Donohoe (Fine Gael)

Would it not then make sense to have a review period that is shorter than five years? I may be missing something and perhaps the Minister will indicate if that is the case. It may be the case that by 2012 we will discover that there is a case for winding up NAMA. However, this is extremely unlikely. In such circumstances, therefore, after 2012 should we not review its activities more often than every five years? The Minister indicated that the Comptroller and Auditor General will carry out a review every three years. I am of the view that three years is a reasonable timeframe and I did not, therefore, make this point in respect of section 223. If we are stating that the Comptroller and Auditor General should be carrying out his review every three years after 2012, then surely that which is envisaged in section 224 should be performed more often than every five years. Perhaps it should be done every three years.

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