Michael McGrath (Cork South Central, Fianna Fail)
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197. To ask the Minister for Finance when the review of National Asset Management Agency operations will be completed; and if he will make a statement on the matter. [2424/14]

Michael Noonan (Limerick City, Fine Gael)
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Under Section 226 of the NAMA Act, as soon as may be after 31 December 2013, and every 3 years after that while NAMA remains in existence, the Comptroller and Auditor General (C&AG) shall prepare and present a copy of a progress report on NAMA to the Minister for Finance.  I am advised by the C&AG that it has prepared an initial draft Section 226 report and I expect that the final report will be submitted to me shortly. My officials will then examine the findings as part of my Department's review of NAMA.

While my Department's review of NAMA is on-going, it cannot be completed until the final C&AG report has been received. I expect my Departments review of NAMA to be completed in the coming months.