Oireachtas Joint and Select Committees

Wednesday, 18 September 2024

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance

1:30 pm

Photo of Alice-Mary HigginsAlice-Mary Higgins (Independent)

That may have been the case with the original legislation. However, the context here is the serious concerns we began with around the poor decision-making that seemed out of line with the obligations of NAMA under section 10 of that legislation. I refer also to the specific investigations which have found wrongdoing or which are looking at the possibility of wrongdoing in relation to the transfer of particular files. Given those factors, surely we need to look at a different and truly independent actor when it comes to indemnification or the revocation thereof. It is not credible. This is not a standard clause. We are talking about the winding up of a body over which there are genuine question marks. We saw the investigation in the North. There is also the commission of investigation. We are talking about an organisation in respect of which there are considered to be matters of public concern regarding its actions. Surely there needs to be a proper level of scrutiny of the entity before we are asked to let everybody off the hook in advance and have the final accounts submitted after it has been wound up.

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