Liam Twomey (Fine Gael)

I move amendment No. 10:

In page 39, between lines 32 and 33, to insert the following:

"(f) the avoidance of conflict of interest by any expert adviser or service providers to NAMA and the participating institutions,

(g) the orderly property management strategy over a ten year period,

(h) for issuing loans, or for allowing security over which it has a charge be used as collateral for loans by other institutions by persons whose loans with NAMA are functional and not in arrears".

I agree with the Cathaoirleach. I note that so far we have taken approximately half an hour per amendment on Report Stage. I thought this might be over quicker for Members but if we keep going at this rate, it looks like we might be here until 6.30 a.m. tomorrow. I will make this fairly quick.

This relates to section 35, the codes of practice. The Minister listed a number of areas where he wants to see a code of practice issued by NAMA. We are simply adding three paragraphs to the subsection. It does not change the section. It simply asks for three more codes of practice to deal with conflict of interest, to deal with the ten year management strategy which the Minister previously stated is more or less coming anyway, and to deal with loans and securities of loans which is more or less part of what NAMA is anyway. I see no reason the Minister cannot agree to this. I ask the Minister of State, Deputy Mansergh, to state why we cannot have codes of practice on these, which also are fundamental parts of what the NAMA legislation is about. It changes nothing else.

The last paragraph of the subsection, which states "any other matter in relation to which the Minister directs NAMA to prepare a code of practice.", still remains in the Bill and I cannot see why this is in any way contentious. If the Minister of State wants to reply, I will say no more on it.