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34 2009

National Asset Management Agency Act 2009

PART 14

Review of NAMA

Triennial review of NAMA’s progress.

226 .— (1) As soon as may be after 31 December 2012, and every 3 years after that while NAMA continues in existence, the Comptroller and Auditor General shall assess the extent to which NAMA has made progress toward achieving its overall objectives.

(2) The Comptroller and Auditor General shall present a copy of that report to the Minister as soon as may be and the Minister shall cause a copy of the report to be laid before each House of the Oireachtas.

Review of achievement of NAMA’s purposes.

227 .— (1) The Minister may at any time require NAMA to report to him or her regarding progress with regard to the achievement of NAMA’s purposes.

(2) The Minister shall lay a copy of a report under subsection (1) before each House of the Oireachtas as soon as reasonably practicable.

(3) As soon as may be after 31 December 2012, and every 5 years after that while NAMA continues in existence, the Minister—

(a) shall assess the extent to which NAMA has made progress toward achieving its overall objectives, and

(b) shall decide whether continuation of NAMA is necessary having regard to the purposes of this Act.