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Enacted Dáil
No. 60 of 2009

National Asset Management Agency Bill 2009

Public bill · Government · Presented

Creates the National Asset Management Agency (NAMA) to take certain troubled property and development loans from designated banks, manage or sell them, and recover the best possible return for the State. It gives NAMA wide powers over related land and collateral, including appointing receivers, developing or compulsorily acquiring land, and taking legal action, while allowing the Government and NAMA to issue debt to pay banks. The aim is to protect taxpayers, stabilise the banking system, restore lending and confidence, and support the restructuring of major banks during the financial crisis.

Formal long title

— to address a serious threat to the economy and to the systemic stability of credit institutions in the State generally by providing, in particular, for the establishment of a body to be known as the National Asset Management Agency for the purposes of— (a) the acquisition by that Agency of certain assets from certain persons to be designated by the Minister for Finance, (b) effecting the expeditious and efficient transfer of those assets to that Agency, (c) the holding, managing and realising of those assets by that Agency (including the collection of interest and capital due, the taking or taking over of collateral where necessary and the provision of funds where appropriate), (d) the taking by that Agency of all steps necessary or expedient to protect, enhance and better realise the value of assets transferred to it, (e) the performance by that Agency of such other functions, related to the management or realisation of those assets, as provided in this Act or as directed by the Minister, (f) the facilitation of restructuring of credit institutions of systemic importance to the economy, andto provide for the valuation of the assets concerned and the review of any such valuation, to give the National Asset Management Agency certain powers and other functions in respect of land or an interest in land acquired by that Agency, including powers relating to the development of land, to provide for the issuing of debt securities by the Minister for Finance and by that Agency in the performance of its functions under this Act, to provide for certain legal proceedings relating to assets acquired by that Agency and to provide for related matters

Last updated 17 April 2018

Sponsor
  • Minister for Finance Primary
Progress
  • First Stage
    Dáil
  • Second Stage
    Dáil
  • Committee Stage
    Dáil
  • Report Stage
    Dáil
  • Fifth Stage
    Dáil
  • Second Stage
    Seanad
  • Committee Stage
    Seanad
  • Report Stage
    Seanad
  • Fifth Stage
    Seanad Enacted
  • Enacted
    Enacted
Debates
  • National Asset Management Agency Bill 2009: From the Seanad.
    Dáil
  • National Asset Management Agency Bill 2009: Motions.
    Seanad
  • National Asset Management Agency Bill 2009: Committee Stage (Resumed).
    Seanad
  • National Asset Management Agency Bill 2009: Report and Final Stages.
    Seanad
  • National Asset Management Agency Bill 2009: Committee Stage.
    Seanad
  • National Asset Management Agency Bill 2009: Committee Stage (Resumed).
    Seanad
  • National Asset Management Agency Bill 2009: Second Stage.
    Seanad
  • National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage.
    Dáil
  • National Asset Management Agency Bill 2009: Financial Resolution.
    Dáil
  • National Asset Management Agency Bill 2009: Order for Report Stage.
    Dáil
  • National Asset Management Agency Bill 2009: Report Stage.
    Dáil
  • National Asset Management Agency Bill 2009: Report Stage (Resumed).
    Dáil
  • National Asset Management Agency Bill 2009: Report Stage (Resumed).
    Dáil
  • National Asset Management Agency Bill 2009: Financial Resolution.
    Dáil
  • National Asset Management Agency Bill 2009: Second Stage (Resumed).
    Dáil
  • National Asset Management Agency Bill 2009: Referral to Select Committee.
    Dáil
  • National Asset Management Agency Bill 2009: Second Stage (Resumed).
    Dáil
  • National Asset Management Agency Bill 2009: Second Stage (Resumed).
    Dáil
  • National Asset Management Agency Bill 2009: Second Stage (Resumed).
    Dáil
  • National Asset Management Agency Bill 2009: Second Stage (Resumed).
    Dáil
  • National Asset Management Agency Bill 2009: Second Stage (Resumed).
    Dáil
  • National Asset Management Agency Bill 2009: Second Stage (Resumed).
    Dáil
  • National Asset Management Agency Bill 2009: Second Stage (Resumed).
    Dáil
  • National Asset Management Agency Bill 2009: Second Stage (Resumed).
    Dáil
  • National Asset Management Agency Bill 2009: Second Stage (Resumed).
    Dáil
  • National Asset Management Agency Bill 2009: Second Stage (Resumed).
    Dáil
  • National Asset Management Agency Bill 2009: Second Stage.
    Dáil

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