Senator Daly calls for time for the NAMA and Irish Bank Resolution Corporation Transparency Bill to be introduced and discussed in the Seanad

Will the Leader allow time for a discussion on the NAMA and Irish Bank Resolution Corporation Transparency Bill 2011 which my colleagues and I have published? This Bill allows the public to see the properties that NAMA is selling. Last week a property that was never on the market, but which was bought for €100 million, was sold for €7 million. Nobody in the area knew it was for sale and then it was gone. Under the legislation NAMA must sell all State assets under its control. Loans are State assets and NAMA is a State body and must sell them in an open and transparent manner in accordance with the sale of public goods, whether by tender or public auction. That is what NAMA is supposed to do, but it is not doing it. We, as Senator Coghlan who is a former auctioneer would know, are losing millions of euro as a result of a lack of transparency. I ask the Leader to allow time for the NAMA and Irish Bank Resolution Corporation Transparency Bill to be introduced and discussed in the House?

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