Kevin Humphreys (Dublin South East, Labour)
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Question 62: To ask the Minister for Finance if the National Asset Management Agency is a State authority for the purposes of the Statute of Limitations Act 1957; and if he will make a statement on the matter. [11920/12]

Michael Noonan (Limerick City, Fine Gael)
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NAMA is not a State authority for the purposes of the Statute of Limitations Act, 1957. A state authority means any authority being a Minister of State or the Commissioner of Public Works in Ireland or the Irish Land Commission or the Revenue Commissioners or the Attorney General. The primary consequence of being a state authority is that it removes time limits on bringing a legal action specific to the purposes of the state authority. As NAMA is not a state authority for the purpose of the statute of limitations, this means that NAMA is subject to the same time limits in bringing legal actions as other legal persons.