Pearse Doherty (Donegal South West, Sinn Fein)
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68. To ask the Minister for Finance further to Parliamentary Question No. 260 of 16 April 2013, if he will clarify the apparent inconsistency in policy between the National Asset Management Agency providing detailed information in a press release on its development of the Millmount project in Dundonald, County Down, but declines to provide information on its plans with respect to the 1916 National Monument site at 14-17 Moore Street, Dublin. [19348/13]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by NAMA that its role is that of a secured lender and that properties continue to be managed by debtors or, in the case of enforcement, by the appointed receivers/administrators. NAMA does, however, take a close interest in the efficient management and sale of properties with a view to maximising loan repayment for the ultimate benefit of the taxpayer.

As stated in the answer to PQ No. 260 of 16th April 2013, in the case of property under the control of its debtors, NAMA is precluded, under Section 202 of the NAMA Act 2009, from disclosing confidential information. Confidential information is specifically defined to include information relating to debtors and their properties. Furthermore, Section 99 of the Act provides that, on acquisition of a loan, NAMA takes over the obligations of the participating institution under the loan, one of which is the contractual duty of confidentiality which the debtor enjoyed while still a customer of the participating institution. Information about individual debtors is also protected against disclosure by the Data Protection Acts with which NAMA must comply as a data controller.

Similar restrictions do not apply to properties under the control of receivers or other insolvency practitioners appointed by NAMA. Such properties are listed on the Agency's website, www.nama.ie. Any decision in relation to the publication of information pertaining to an enforced property is taken in consultation with the appointed insolvency practitioner. I am advised by NAMA that the decision to provide funding to build a new 95-unit housing development in Dundonald, close to Belfast, was reached following a detailed cost-benefit evaluation which established that this was likely to produce the best return for the taxpayer from this site.