Dáil Éireann Debate, Wednesday - 6 June 2012
59 Deputy Eoghan Murphy asked the Minister for Finance the number of persons appointed to the advisory group for the National Asset Management Agency; the terms of their appointment; when each person was appointed; the number of times they met as a group since their appointment; when they are due to report to him; the matters on which they report; the form that this report will take, and if this report will be made public. [26153/12]
Amharc ar fhreagraThe advisory group currently consists of three members; Mr. Michael Geoghegan; Mr. Denis Rooney and Mr. Frank Daly, the chairman of NAMA. Mr. Geoghegan acts as chair of the group and all members of the Group were appointed on 7 March 2012. Each of the individuals has agreed to work on apro-bono basis.
This group was set up to advise me on specific issues related to NAMA. The group operates on an informal basis and reports directly to me. As such there is no formal report to be published. It is important to say that this group is not a shadow Board nor is it intended to provide a route for me as Minister to get involved in the day to day running of the Agency.
The group's advice to me primarily relates to the strategy of NAMA as proposed by the board of NAMA; the appointment of directors to NAMA; the remuneration of the senior executives of NAMA and any further advice that I may seek on any matter relating to NAMA.
I have agreed that the group will meet and report to me at least four times a year. I have met with the group on one occasion since it was established. It is also open to the Chair to contact me as issues arise. I expect the advisory group to play a valuable role and I can confirm that I am satisfied with the operation and progress of the group to date.
