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

Senator Mark Daly: I hope my colleague will support my call for an amendment to the Order of Business that the House takes the NAMA and Irish Bank Resolution Corporation Bill today.

An Cathaoirleach: Is the Senator moving an amendment to the Order of Business? Senator Mark Daly: Yes. Senator John Gilroy: Perhaps we should be discussing a transparent political posturing Bill.

Senator Mark Daly: I have raised this issue on a number of occasions and I have called on the Attorney General to come to the House, as I believe that NAMA is not selling its properties in accordance with the legislation passed by the Oireachtas. To date, the Attorney General has failed to reply to the questions I raised. NAMA is the largest property company in the world. Both Houses passed legislation that requires the agency to sell all its assets in an open and transparent manner.

 Senator Paul Coghlan: The Senator should welcome this morning’s announcement.

An Cathaoirleach: Senator Daly without interruption.

Senator Mark Daly: That is clearly not happening. Deputy Buttimer raised the issue of the sale of land in Cork. Other sales in London and further afield are taking place with the consent of NAMA but nobody knows the properties are for sale.

Senator Paul Coghlan: That is hearsay. Senator John Gilroy: That is hearsay. That is not an established fact.

Senator Darragh O’Brien: The sale in Cork is an established fact. The Senators should read the Bill. Senator Paul Coghlan: With respect, Senator Daly is waffling inaccurately.

An Cathaoirleach: Senator Daly without interruption. Senator Mark Daly: I am sure colleagues have read the newspaper reports, particular in the Irish Examiner, about a property on which a loan of €100 million had been secured which was sold for €7 million. Nobody, including adjoining landowners and farmers, knew the land was for sale. If that is selling State assets in an open and transparent manner, then my colleagues opposite are clearly delusional when it comes to selling something in an open and transparent manner. Senator Paul Coghlan: The Senator would want to look in a mirror.

Senator Mark Daly: As a former auctioneer, I am sure Senator Coghlan knows how to sell something in an open and transparent manner. I have moved an amendment to the Order of Business and I also ask the Deputy Leader to invoke Standing Order 56 to invite the Attorney General to come to the House to explain to us why NAMA is not following the laws it passed.

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Filed under NAMA and Irish Bank Resolution Corporation Transparency Bill 2011

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