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

To ask the Minister for Finance if he will outline the steps to be taken by the National Asset Management Agency to get its first Qualifying Investor Fund operational. [48912/12]

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

The National Asset Management Agency advises that it is acting as Promoter of the QIF and is taking all necessary steps towards obtaining regulatory approval for the QIF. The Deputy may wish to consider the Central Bank Guidance Note 2/96 - Promoters of Collective Investment Schemes for information about the role and responsibility of the Promoter.

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

To ask the Minister for Finance if he will quantify the number of persons who will comprise the board of the first qualified investor fund to be operated by the National Asset Management Agency and the way these persons will be selected for board membership and the remuneration that will attach to such positions.; and if he will make a statement on the matter. [48914/12]

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

I am advised that regulatory requirements stipulate that the Board must comprise a minimum of three suitably qualified directors. The National Asset Management Agency proposes to nominate one director. It is envisaged that the investment manager to the QIF will appoint one director and subsequent directors will be appointed by the QIF once it has been incorporated. The remuneration of persons appointed to the Board of the QIF will be determined by the Board once constituted.