Rónán Mullen (Independent)

I have not heard any intellectual disagreement with any aspect of my amendment and the Minister has not pointed to any specific problem with the proposed wording. He went on to embrace both the spirit of the proposed amendment but he also expressed his intention to achieve, using other powers in other sections of the Bill, what the amendment specifies. It is important to specify this information. Senator Butler spoke about business plans but as I said on Second Stage, it was business plans devoid of social conscience that led us to this crisis. There is an appropriateness about getting specific information on the social intent, particularly in circumstances where I have drafted it in such a way so as not to frustrate in any way NAMA's commercial or financial objectives or to involve any lack of transparency. I do not believe there is anything in the amendment that undermines NAMA's commercial or financial objectives.

I agree it is not unknown for legislation to aspire to and set out aims and objectives without unduly tying the Minister's hands. I think of the directive principles of social policy in our Constitution, for example, which, without being strictly binding in the sense of other amendments, have the effect of shaping the environment of the rights to be protected and enjoyed and setting out what should be the general direction. It is because we have between 50,000 and 60,000 people on housing waiting lists, and many more on rent supplement, that I considered it appropriate to focus in large measure in my amendment on the area of housing.

Senator Donohoe is incorrect in suggesting that it would not work because I believe there will be assets that will be capable of being disposed of and which could be obtained by those in the business of addressing in particular our housing problem but also the related problem of amenities as discussed by others and by the Minister.