Catherine Murphy (Kildare North, Independent)
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181. To ask the Minister for Finance if he has publically requested the National Asset Management Agency to defer without prejudice the auction of 274 acres of important heritage lands in the Liffey Valley, Dublin (details supplied) in order to facilitate time to explore the securing of these lands for the public interest and the benefit of the nation; if he will provide a copy of this request; the response from NAMA; if he will explain the rationale for not pursuing this matter; and if he will make a statement on the matter. [40515/13]

Michael Noonan (Limerick City, Fine Gael)
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I have not publicly requested that NAMA defer this property sale; the property in question has been for sale on the open market for some time, which allowed any interested buyer to make their interest known to NAMA. This property was sold at auction on the 27th of September. As the Deputy will be aware that given the independence afforded to NAMA by the NAMA Act, and having established NAMA’s mandate through legislation, I have no role as Minister for Finance in relation to strategies applied by NAMA in fulfilling that mandate. Decisions relating to the sale of properties securing its loans are an operational matter for the Board of NAMA which is guided by its commercial mandate under the NAMA Act 2009.

NAMA’s role is that of a secured lender, like any bank they own the debt while the debtor or appointed liquidator still owns and controls the assets and is ultimately responsible for these assets, the Agency is therefore not in a position to compel its debtors and receivers to cede property either free of charge or at less than market value.

NAMA fulfils its social obligation remit by facilitating a dialogue between NAMA debtors and 3rd parties so as to enable the latter to acquire suitable property for social, sporting and other public purposes. To this end the NAMA Board has committed to giving first option to State bodies on the purchase of property which may be suitable for their purposes where these bodies have requirements such as schools, hospitals, and so on. When considering any transaction under its social obligation, Section 10 of the NAMA Act requires NAMA to maximise the return on its loans for the benefit of the taxpayer.