Lucinda Creighton (Dublin South East, Independent)
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71. To ask the Minister for Finance if he will issue guidelines, or directions, to the National Asset Management Agency that none of the agency's borrowers will be allowed to use any funds to pay for the living expenses, or legal costs, of a person (details supplied), in that person's fight against bankruptcy appeal and extradition hearings; if he will confirm whether the agency has conducted any investigations concerning its non-performing borrowers, providing any money to that person to pay for that person's living expenses or legal costs; and if he will make a statement on the matter. [8655/15]

Michael Noonan (Limerick City, Fine Gael)
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NAMA is not aware of the scenario outlined by the Deputy.  I am advised by NAMA that it does not permit its funding or income from assets belonging to its debtors to be used for the discharge of unrelated third party expenses.   NAMA approves expenditure by debtors, including the retention of certain overhead costs from rental or other income generated by a debtor's assets, only in so far as it relates to debts owing to NAMA and to the management and enhancement of the underlying security.  NAMA funding is subject to full and ongoing monitoring.   The Deputy will also be aware that Section 7 of the NAMA Act requires debtors to provide a sworn statement of affairs to NAMA including details of all assets and other resources available for debt repayment.   All available resources are applied towards repaying a debtor's indebtedness to NAMA.  Failure by debtors to fully disclose their assets and liabilities in their statements of affairs is a criminal offence. I do not consider that it is necessary for me to issue guidelines or directions to NAMA in these circumstances.  The Deputy will note that some debtors may have debts with other financial institutions that may not exercise similar financial controls over any such income from those secured assets.