Leo Varadkar (Dublin West, Fine Gael)
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Question 213: To ask the Minister for Finance the new agencies or offices established under the aegis of his Department since 2007; the annual budget in each case for 2007, 2008, 2009 and 2010; and if he will make a statement on the matter. [37570/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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In response to the Deputy's question the following bodies were established under the aegis of my Department in the period 2007- 2010. The National Asset Management Agency

The National Asset Management Agency was established on 21 December 2009. It's budget for 2010 is €124m (excluding due diligence costs which will be recovered from Participating Institutions), but indications are that actual expenditure will be significantly less than budgeted. This is in part due to the timing of the loan transfers.

Commission of Investigation into the banking sector in Ireland

A Commission of Investigation into the banking sector in Ireland was established under the Commission of Investigations Act 2004 by Government Order on 21 September 2010. While the Commission is independent in the performance of its functions and does not as such fall under the aegis of my Department, the Minister for Finance is responsible for overseeing relevant administrative matters and the allocation of funding to the Commission. A provision of €2 million towards the costs of the Commission has been provided for in my Department's Vote for 2010.