Ivor Callely (Fianna Fail)

I ask the Minister of State and his officials to be on guard with respect to the other players involved. The mechanism we are putting place can be used as a tool by various players participating in this regardless of what capacity they may be playing at. For example, it may be purposely beneficial for valuations to come in at a particular level. If we take the 30% that is within the body of NAMA itself, the percentage could be far greater than that, even if we go according to the old mantra of location, location, location, which I have mentioned before when participating. There could be a prime site in a prime location, although I recognise the variances that might appear throughout the country and there can be variances in valuations. I am concerned there could be game playing, allowing for the fact there is a new tool which permits some of the financial institutions perhaps to use valuations which may be in their best interests and not necessarily in the interests of either NAMA, the Government or the original applicant. There seems to be a shifting of the ground and a shifting of what one might expect to be in a code of practice.