PAC to recall NAMA in relation records of Board Meetings

The Committee had requested a copy of any contemporaneous notes (in the format taken during the meeting) that were used in the subsequent preparation of the minutes of NAMA Board meetings held on 12 December 2013 and 8 January 2014.

NAMA responded to the Committee that once NAMA Board minutes are adopted by the Board members, they are the official record of that particular meeting. As a result, the Board Secretary’s contemporaneous notes of the meeting are transitory records and are not retained.

Committee Chairman Seán Fleming said: “I find it surprising that at key meetings where the sale of Northern Ireland assets worth £1.3bn was being discussed that notes from which the minutes were to be prepared have not been retained by NAMA. Put simply, this means these records have been disposed of and were destroyed.  Therefore, the Committee has agreed to recall NAMA to explain this matter. We expect to have a meeting on this specific issue early in the coming week.”