Michael McGrath (Cork South Central, Fianna Fail)
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46. To ask the Minister for Finance if he will provide details of the review of the National Asset Management Agency currently under way within his Department; if any outside bodies are assisting with the review; when he expects the review to be completed; and if he will make a statement on the matter. [3055/14]

Michael Noonan (Limerick City, Fine Gael)
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I refer the Deputy to PQ 2424/14 which was answered on the 21/01/14. Section 227 of the NAMA Act 2009 requires me to complete a review of NAMA every 5 years. The purpose of the review is to assess the extent to which NAMA has made progress toward achieving its overall objectives, and decide whether continuation of NAMA is necessary having regard to the purposes of the Act. Due to the coincidence regarding the occurrence of the Section 226 and Section 227 Report I have decided to use my official s to conduct the  review of NAMA, as these reports will be staggered in the future I may take a different approach for the next review. As part of the review they will examine the findings of the Section 226 C&AG report on NAMA  as well as other relevant materials. I expect my Department's review of NAMA to be completed in the coming months.