Dáil Éireann Debate, Tuesday - 15 December 2009
118 Deputy Richard Bruton asked the Minister for Finance if he has sought advice from the interim chief executive of the National Asset Management Agency regarding the impact the revisions in upwards only rent reviews will have on assets being transferred to NAMA; and if he will make a statement on the matter. [46615/09]
Amharc ar fhreagraThe Department of Justice, Equality and Law Reform sought the views of my Department prior to commencing the rent review provision contained in section 132 of the Land and Conveyancing Law Reform Act 2009. As a matter of course my Department consulted with the interim NAMA on this issue, prior to responding to the Department of Justice, Equality and Law Reform. I would note that existing upward only rent review clauses are not affected by the legislation, and that so far as future contracts are concerned, the pricing of a contract will naturally reflect all of its features. For the future, impacts on NAMA of Government actions will of course be taken into account along with the broad range of issues that inform policy choices.
