Michael McGrath (Cork South Central, Fianna Fail)
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229. To ask the Minister for Finance the number of occasions on which he has made a direction to the National Asset Management Agency to carry out certain actions under the terms of powers vested in him by the NAMA Act; and if he will make a statement on the matter. [33486/14]

Michael Noonan (Limerick City, Fine Gael)
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I have made four of the ten direction orders to NAMA under the NAMA Act.  I have also made four direction orders to NAMA under the IBRC Act 2013.I have set out the details of each direction below.

A copy of each Direction Order was laid before the Houses of the Oireachtas and published in Iris Oifigiúil at the time.

Directions made by me relating to NAMA under the NAMA Act and the IBRC Act 2013 are also publicly available on the NAMA website,

Directions to NAMA issued under the Irish Bank Resolution Act 2013

20 Feb. 2013:  Direction that a draft Deed of Assignment and Transfer be entered into between the Central Bank of Ireland (as seller) and NAMA (as buyer), pursuant to Section 13(1) of the Irish Bank Resolution Act 2013.

7 Feb. 2013:  Direction to the Board of NAMA to provide a short-term facility to the Special Liquidators of IBRC, pursuant to Section 13(1) of the Irish Bank Resolution Act 2013.

7 Feb. 2013:  Direction to the Board of NAMA that it make a bid for assets of IBRC, pursuant to Section 13(1) of the Irish Bank Resolution Act 2013.

7 Feb. 2013:  Direction that a draft Deed of Assignment and Transfer be entered into between the Central Bank of Ireland (as seller) and NAMA (as buyer), pursuant to Section 13(1) of the Irish Bank Resolution Act 2013.

Directions issued under the NAMA Act

30 Mar. 2012:  Direction to the Board of NAMA to adopt all reasonable measures to facilitate the short-term financing of IBRC issued under Section 14 of the NAMA Act.

7 Mar. 2012:  Direction to the Board of NAMA concerning the operation of a NAMA Advisory Group, issued under Section 14 of the NAMA Act.

11 May 2011:  The Minister for Finance amends the terms and conditions of the Senior notes in order to retain the current valuation of the instruments to support the stability of those credit institutions that hold the notes. Direction issued under Section 14 of the NAMA Act.

22 Oct. 2010:  The Minister for Finance amends the regulations issued on 3 March 2010 to allow for the accelerated acquisition of the remaining loans from the participating institutions.  Regulations issued under Section 79 of the NAMA Act.

22 Oct. 2010:  The Minister for Finance directs the Agency to expedite the acquisition of remaining loans from the participating institutions. Direction issued under Section 14 of the NAMA Act.

22 Oct. 2010: The Minister for Finance confers additional functions on the Agency in order to expedite the acquisition of the remaining loans from the participating institutions. Direction issued under Section 11 of the NAMA Act.

14 May 2010:  The Minister for Finance makes a Direction concerning the issuance of government-guaranteed debt by NAMA.  Direction issued under Section 14 of the NAMA Act.

3 Mar. 2010:  The Minister for Finance issues regulations in relation to the valuation methodology to be applied by NAMA when acquiring loans.  Regulations issued under Sections 75, 76, and 79 of the NAMA Act.

23 Dec. 2009:  The Minister for Finance issues regulations prescribing certain classes of bank assets as eligible for acquisition by NAMA.Regulations issued under Section 69 of the NAMA Act.

21 Dec. 2009:  The Minister for Finance designates 21 December 2009 as establishment day for NAMA. Direction issued under Section 8 of the NAMA Act.