National Asset Management Agency

Dáil Éireann Debate, Tuesday - 14 February 2012

Tuesday, 14 February 2012

Questions (119, 120)

Michael McGrath

Question:

159 Deputy Michael McGrath asked the Minister for Finance further to his announcement on budget day 6 December 2011, when he intends to formally establish the National Asset Management Agency advisory group; the number of members who will form the advisory group; the anticipated nature of its composition in terms of sectoral background and relevant experience of its members; the role he envisages for the advisory group; and if he will make a statement on the matter. [7813/12]

Gerry Adams

Question:

164 Deputy Gerry Adams asked the Minister for Finance if he will report on the new National Asset Management Agency advisory group which he announced in December; if the group has been established; the members of the group; the salaries, expenses or other benefits for membership of this group; how often the group meets; the group’s accountability to the Government and or to NAMA; and if he will make a statement on the matter. [7952/12]

Written answers

Minister for Finance (Deputy Michael Noonan)

I propose to take Questions Nos. 159 and 164 together.

I have appointed Mr Michael Geoghegan to chair a small group of advisors to advise me on the future strategic direction of NAMA. Mr Geoghegan has agreed to carry out his role on a pro bono basis.

I am currently considering the names of potential candidates who have the appropriate experience and background to work effectively on the group of advisors with Mr Geoghegan. I expect to announce the other members shortly. At that stage, I will also announce the group's terms of reference, as well as its reporting framework and arrangements in relation to costs.