Brian Lenihan Jnr (Dublin West, Fianna Fail)

I shall certainly draw Senator Twomey's observations to the attention of the incoming board. In fact, there is an amendment tabled to the Schedule, which will be addressed, I take it, when we discuss the Schedule, to ensure the capacity NAMA has to apply for or extend a planning permission will be harmonised with the proposal contained in legislation in connection with planning and development which I understand is before this House. The wording "at present" in the Schedule is somewhat different from that in the other legislation before the House so there will be a harmonisation of the legislation.

There has had to be one material difference, however. When a planning permission lapses NAMA will have a short time period within which to reapply for permission. There is a danger with an insolvent developer or builder that such a person could neglect to extend the permission. That provision is to protect the taxpayer, but other than that the scheme I am proposing under this section is the same as the one being proposed by the Minister for the Environment, Heritage and Local Government in the planning Bill before this House. Essentially, it means someone can apply to extend the permission. Such an application is subject to the decision of the local authority. It is open to the local authority to insert up-to-date planning conditions in the context of the application.