Pearse Doherty (Donegal South West, Sinn Fein)
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62. To ask the Minister for Finance if the total fees charged by KPMG for the liquidation of Irish Bank Resolution Corporation shall be published on an annual basis as they would be if it were a court liquidation; if he will confirm whether the breakdown of KPMG fees will be published, including the valuation fees awarded to PWC for the entire loan book minus the UBS mandated portion; if he will confirm if the National Assets Management Agency intends to hire their own independent valuer for the loans once the remaining loans are transferred to NAMA from IBRC; if he will confirm if the sale of the IBRC transferred assets to NAMA will have an EU/IMF deadline process for subsequent sale of the assets; and if he will make a statement on the matter. [21985/13]

Michael Noonan (Limerick City, Fine Gael)
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The Special Liquidators will comply with their reporting obligations and as such the liquidation accounts will be filed with the CRO after two years of the liquidation and yearly thereafter. I am advised by NAMA that, until there is clarity as to the type and volume of loans to be transferred to it by the Special Liquidators, it is not in a position to set out the approach that it may adopt.

Pearse Doherty (Donegal South West, Sinn Fein)
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63. To ask the Minister for Finance if the insolvency initiated under the powers given to him in the Irish Bank Resolution Corporation Act 2013 is an insolvency proceeding within the meaning of section 6 (1) of S.I. No. 131/2003 European Communities (Protection of Employees on Transfer of Undertakings) Regulations 2003 and therefore exempt to the application of Regulations 3 and 4 of the said Regulations; if he will confirm whether the insolvency initiated under the powers given to him in the Irish Bank Resolution Corporation Act 2013 is considered a relevant insolvency proceeding within the meaning of the British Transfer of Undertakings (Protection of Employment) Regulations 2006 and therefore exempt from Regulations 4 and 7 of said regulation; and if he will make a statement on the matter. [21986/13]

Michael Noonan (Limerick City, Fine Gael)
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By reason of the amendment inserted by Section 19(2) of the Irish Bank Resolution Corporation Act 2013, the insolvency initiated under the powers given to me in that Act is an insolvency proceeding within the meaning of section 6 (1) of S.I. No. 131/2003 European Communities (Protection of Employees on Transfer of Undertakings) Regulations 2003 and therefore exempt to the application of Regulations 3 and 4 of the said Regulations. It would not have been possible to amend the United Kingdom Transfer of Undertakings (Protection of Employment) Regulations 2006 by an Irish Statute.

Whether the insolvency of IBRC is a relevant insolvency within the meaning of the United Kingdom Transfer of Undertakings (Protection of Employment) Regulations 2006 is a matter to be determined by the UK Courts under applicable law and it would not be appropriate for me to comment on that matter.