Michael McGrath (Cork South Central, Fianna Fail)
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Question 143: To ask the Minister for Finance if he will provide details of the anticipated timing of reports from National Asset Management Agency being laid before the Oireachtas. [38036/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Section 53 of the National Asset Management Agency Act 2009 requires NAMA to submit an annual statement to the Minister for Finance 3 months before the commencement of the year to which it relates, with the exception of the financial year 2010 which had to be submitted before 1 July 2010.

Section 55 of the Act requires NAMA to make a quarterly report to the Minister for Finance within 3 months of the end of the quarter to which the report refers.

The annual statement for the financial year 2010 and the first quarterly report for the period ending 31 March 2010 were submitted to me within the required timeframe and I laid them before each House of the Oireachtas, as required by the Act.

The annual statement for the financial year 2011 and the second quarterly report for the period ending 30 June 2010 were submitted to me within the required timeframe and I expect to lay them before each House of the Oireachtas shortly.