Dáil Éireann Debate, Wednesday - 10 March 2010
141 Deputy Leo Varadkar asked the Minister for Finance his views on the impact a retrospective ban on upward only rent reviews will have on the commercial property market, and in particular on loan portfolios which are being taken over by the National Asset Management Agency; if he has made them known to the Department of Justice, Equality and Law Reform; and if he will detail those concerns. [11734/10]
Amharc ar fhreagraIt is my understanding that real legal and constitutional difficulties would arise if steps were taken to intervene in existing leases retrospectively, where those leases have been freely entered into by the parties concerned. I am advised by the Department of Justice Equality and Law Reform that they have been advised by the Attorney Generals Office to this effect.
142 Deputy Leo Varadkar asked the Minister for Finance if any banking institution, pension fund or the National Treasury Management Agency has over the past 18 months made representations to him in relation to the potential impact that a retrospective end to upward only rent reviews would have on commercial property prices; if so, if he will publish those representations, or the minutes of those representations; and if he will make a statement on the matter. [11735/10]
Amharc ar fhreagraI am sure that the Deputy can appreciate that I receive many representations from many parties on a wide range of matters. Although an initial examination has not identified any records which might fall within the scope of the Deputy's request, I have asked my officials to conduct a more thorough search to ascertain if any relevant records exist. I will contact the Deputy directly when the examination of records is completed. If any record is identified, the Deputy will be aware that its release could be subject to the requirements of the Freedom of Information Act.
