Pearse Doherty (Donegal South West, Sinn Fein)
Link to this: Individually | In context

Question 55: To ask the Minister for Finance the qualifications and experience of the National Assets Management Agency advisory board with respect to the Irish property markets [35960/12]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

I may remind the Deputy that the NAMA Advisory Group has been set up to advise me in the following areas:

- The strategy of NAMA.

- The appointment of directors to NAMA.

- The remuneration of senior executives in NAMA.

- Any further advice I may seek of them.

The Advisory Group was established under a Direction Order issued by me under Section 14 of the NAMA Act. The group operates on an informal basis and reports directly to me. Each of the members of the group have specific and significant private sector experience. The responsibility for the running of NAMA lies with the NAMA Board, as laid out in the NAMA Act 2009. There is no role for the Advisory Group in dealings with the stakeholders of NAMA other than through discussions with me in my position as Minister.