Michael McGrath (Cork South Central, Fianna Fail)
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66. To ask the Minister for Finance if he will take action following a recent documentary on a matter of public concern (details supplied); and if he will make a statement on the matter. [4939/16]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy will be aware, the BBC Spotlight programme broadcast, which aired on 29 February 2016, made no allegation of wrongdoing by NAMA. The programme raised matters which relate to individuals at the margins of the buyer side of the Project Eagle loan sale and which fall within the jurisdiction of the Northern Ireland authorities. These matters have been raised previously on a number of occasions, in the Oireachtas and elsewhere. I understand that there are a number of investigations underway in this regard, including those with the UK National Crime Agency (NCA), the US Department of Justice and the Northern Ireland Law Society. I welcome these investigations as such serious allegations should be, and clearly are being, thoroughly investigated. However, I reiterate that, to the best of my knowledge, these investigations concern activities on the purchaser side of the sales process and do not involve NAMA's role in this process.

NAMA has publically stated the factual position on the sale of its Northern Ireland loan portfolio through its appearances before the Dáil Public Accounts Committee (16 December, 1 October 2015) and the Oireachtas Finance Committee (16 December 2015) and, separately, in detailed submissions to the Northern Ireland Finance and Personnel Committee (4 September, 27 November 2015), who recently published their own report on the sales process.  All of this information is on public record and available from NAMA's website, the Oireachtas website, and the Northern Ireland Finance and Personnel Committee's website. 

The Deputy will also be aware that the Comptroller and Auditor General ("C&AG") has commenced work on a second report under Section 226 of the NAMA Act, which will focus on the progress NAMA has made at the end of 2015 towards achieving its overall objectives. I understand that the C&AG has, in parallel with the Section 226 review, commenced work under Section 9 of the C&AG (Amendment) Act 1993 ("1993 Act") of an examination of the disposal of the loans of Northern Ireland debtors. The C&AG has indicated that he may issue a report, under Section 11 of the 1993 Act, if he considers that it is warranted by the findings of the Section 9 review. This is consistent with the C&AG's power to investigate, scrutinise and report on concerns regarding any aspect of NAMA's work which may arise through its annual audits or special reports about any aspect of NAMA's work.

In the absence of any allegation or evidence of wrongdoing by NAMA, the C&AG is best positioned to independently review this transaction. C&AG officials have confirmed that, given their independent role, any queries related to the timing, content, or any other specific aspects of their reports should be directed to the Office of the Comptroller and Auditor General.  I would encourage the Deputy to support this process and await the findings of the C&AG's independent review.

Michael McGrath (Cork South Central, Fianna Fail)
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67. To ask the Minister for Finance his views on the report of the Northern Assembly on the sale of Project Eagle loans; and if he will make a statement on the matter. [4940/16]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy is aware, the stated purpose of the Northern Ireland Finance and Personnel Committee's Review was 'to undertake a fact-finding review in relation to the operations of NAMA in Northern Ireland, including the "Project Eagle" sale and related policy and regulatory issues that fall within the DFP [Department of Finance and Personnel] remit.

The remit of the Northern Ireland Department of Finance and Personnel clearly falls under the jurisdiction of the Northern Ireland Assembly, therefore I do not propose to comment on such matters.

I acknowledge that the Committee's investigatory work clearly involved gathering, and reviewing, a significant amount of oral and documentary evidence.  My own Department assisted the Committee in this regard by providing a large volume of documentation in response to the Committee's requests. Separately, NAMA also provided detailed written responses to over 100 questions submitted by the Committee. I understand that the Committee has published all of this documentation, as well as the other evidence gathered in the course of its review, in a detailed timeline on their website.

The Committee's report includes a number of points regarding NAMA. I understand that the NAMA Chairman, Mr Frank Daly, has already written to the Finance and Personnel Chair, Mr Daithí McKay MLA, to address some of these points. Given NAMA's has an independent mandate and Board of Directors, I do not propose to elaborate on the points raised by Mr Daly. The NAMA Chairman's letter can be found on the NAMA website via the following link:

The NAMA Act 2009 establishes that NAMA is accountable to Parliamentary Committees of the Oireachtas.  I commend NAMA for providing thorough and detailed written responses to the questions posed by the Finance and Personnel Committee. I understand that NAMA offered to answer further written questions, should this have been required by the Finance and Personnel Committee. I understand, in this respect, that the Committee did not submit any additional questions to NAMA.