Yesterday, the National Asset Management Agency, NAMA, lost a five-year battle at public expense to prevent details of its loans and properties being provided to the public. Why would NAMA want to prevent citizens knowing about its activities? Is it not unfair and unjust that the taxpayer might have to pay for NAMA’s effort to prevent the very same taxpayer knowing what the agency is doing, supposedly, in the name of the taxpayer?

NAMA has been shrouded in secrecy since its conception. It only became subject to the Freedom of Information Act last year, a development for which Sinn Féin campaigned and produced legislation. Billions of euro of public assets continue to be sold off by NAMA to vulture capitalists without any proper democratic oversight. Given the scandal at Irish Bank Resolution Corporation and the Government’s failure to protect the public interest, given the sell-off of Clerys and the Government’s refusal to legislate to protect workers and concession holders in that shop, surely there is an urgent need to look at how NAMA does its business? There are networks within networks of insiders and powerful vested interests behind many of these deals. Some of them are in NAMA but buying assets for themselves or for third parties. How is this allowed to happen? There is also concern NAMA is engaged in a fire sale of assets to meet an arbitrary deadline set by the troika and now being driven by the Minister of Finance, Deputy Michael Noonan.

Considering the public concern that now exists, will the Taoiseach agree to a suspension of non-contracted disposals activity at NAMA for a time-limited examination of the books with a view to ensuring the best interests of citizens are being served?

The troika has left.

It has gone too far.

Many of the propositions it put forward were not acceptable to this Government.

Which ones?

The Government put up alternatives that were pro-growth and pro-competitiveness in the interests of growing jobs and our economy, unlike what was left to us by the remnants of the Government-----

The Government sold us a pup.

We are coming up to the anniversary of the game changer of 29 June 2012.

Thank you, Deputy Kelleher.

Deputy Adams is well aware NAMA’s accounts are comprehensively audited by the Comptroller and Auditor General’s office which is entirely independent and objective, and I am sure he accepts that.

The game changer was a huge breach of trust.

There is a permanent team of staff from the Comptroller and Auditor General’s office based in NAMA which has unrestricted access to all its records and files, including those relating to all transactions. If there is a concern about any aspect of NAMA’s work - the Deputy mentioned one earlier - it is within the power of the Comptroller and Auditor General to have it scrutinised and investigated.

The Comptroller and Auditor General has produced three special reports already on NAMA’s activities which have been broadly positive in their assessment of how the agency is managing the complex business of the extensive portfolio it acquired. Those reports were generally positive about the management of its business and its conduct.

All Comptroller and Auditor General’s reports on NAMA have been subject to the full scrutiny by the Committee of Public Accounts. These reports are available on the NAMA website for everyone to see. I understand the Comptroller and Auditor General will commence work shortly on his fourth special report on NAMA. In the sense of accountability and public transparency, the independent watchdog of the Dáil, namely, the Committee of Public Accounts, has considered these reports. The Comptroller and Auditor General has a permanent staff in NAMA with access to all files without restriction.

Three reports, broadly supportive of the work being done, have been published to date on the website and the fourth report has been commenced.

What the Taoiseach outlined happens after the fact. What I asked the Taoiseach to do, and he dodged the question, is to suspend non-contracted disposals activity for a time-limited examination of the books. Recently, the Dublin county board of the GAA failed in a bid to buy the Spawell centre from NAMA although it offered more than the €6.5 million asking price. Why would this be so? Cumann Lúthchleas Gael is an organisation of which we are all proud. Is this not the type of project that NAMA, a State agency, should facilitate? It did not, but it did facilitate Noel Smyth of Fitzwilliam Finance Partners. Noel Smyth was in NAMA's top 20 developers list. In 2013, he paid €230-----

No, sorry Deputy this is not a place to be making charges we cannot stand over.

Sorry, Ceann Comhairle-----

No, we have always had a tradition here that we do not name-----

I am not making a charge. I am stating what is on the public record.

It is a tradition.

All right. In 2013, this person, whom I cannot name in this democratic forum but who is involved with a firm called Fitzwilliam Finance Partners, paid €230 million for loans owed by Arnotts and he secured 50% of the company. What this anonymous person has just done is a perfect example of someone acquiring assets while subject to NAMA, in this case from the IBRC. Last week, this anonymous person, whose name is in all of the newspapers but whom I am advised I cannot name-----

You know what I mean.

-----bought the other 50% of Arnotts, so Noel Smyth, dare I say the name, now owns Arnotts. He controls Arnotts. What is to stop him from doing at Arnotts what was done at Clerys? It is perfectly legal under the Government's flawed legislation, and workers at Arnotts are understandably concerned about this and little wonder given how the legislation favours the elites and not the citizens. I do not suggest any impropriety here.

Then what are we raising it for?

To show an example.

It can happen.

It is all legal. To ensure-----

Of course you are implying-----

I wish the Ceann Comhairle would not interrupt my flow when I am asking a legitimate question.

You cannot mention names.

Put Deputy Jerry Buttimer into NAMA.

I am here to protect the citizens as well as the Members, and it is traditional that Members should not comment or criticise or make any charges against a person outside the House.

It could be a perception job.

No charge was made.

That is a long established principle in the Chamber.

I could not hear what the Ceann Comhairle said.

As long as I am in this Chair that is the way it is going to be.

No charge was made.

When I am gone from this Chair somebody else can-----

I could not hear what they Ceann Comhairle said because of the heckling.

If the Deputy would like to come to me afterwards I will show him the established principle about naming people and making charges-----

I know what it is.

Respect it then.

I am not entirely ignorant-----

-----against people that imply wrongdoing.

I am not entirely ignorant of my responsibilities or of my entitlements-----

I have to remind you from time to time when you choose to name people in the Chamber.

-----as a duly mandated Deputy. I made no charge. I asked the Taoiseach-----

Then why are you naming the person?

Your colleague made a charge. She named people.

Because it is in the public interest to do so. I am asking the Taoiseach to ensure NAMA prioritises the interests of the citizens and the taxpayers. Will he establish an independent audit of remaining NAMA properties to determine which of these could be made available for social and economic development? I repeat my first question: will the Taoiseach agree to a suspension of non-contracted disposals activity for a time-limited examination given the public concern? These are issues of major public concern. Will the Taoiseach do these two things I am asking him to do?

I am not going to interfere in any way with the commission of investigation set up by the Oireachtas in respect of matters pertaining to IBRC.

Oliver Callan will have you nailed next week.

As I said to the Deputy already, a dedicated number of staff from the Office of the Comptroller and Auditor General are in NAMA with unrestricted access to every file, every register and every transaction.

After the fact.

It is important that I appreciate the independence, objectivity and transparency of the Office of the Comptroller and Auditor General. I am sure the Deputy does as well. They are in there with NAMA as these transactions go through. The Comptroller and Auditor General as part of a special report on NAMA's progress from 2010 to 2012, following a review of NAMA disposals with a gross proceeds value of €1 billion, stated the evidence was that almost all property disposals had been sold through an open competitive process or with testing of disposal prices against market valuation and provided assurance that prices obtained were the best on offer in the market at the time a property was sold. For instance, No. 1 Warrington Place was sold following an open market competitive sale process. It attracted substantial investor interest. The property was advertised over an eight week period and there were 40 site inspections, 19 credible first round bids, eight parties invited to submit final bids on the basis of the strength of their first round bids and the asset was ultimately sold to the highest bidder after another bidder at the same price withdrew. This purchase was by a global investment fund, marking only a second ever acquisition in Europe. At the time it was the first sale of a major commercial building in Dublin for more than five years. International investor interest generated by the sale stayed in the Irish market and has contributed to the recovery which has been evident since.

I suggest to the Deputy that because of all of the interest being raised by Deputies from all sides of the House on matters relevant to NAMA, a particular facility was established for Members of the Oireachtas at oir@nama.ie-----

Will I toddle along to that?

Excuse me, where it invites the Deputy or any other Deputy who has an issue with NAMA to contact it through the facility.

Pass the parcel.

I am asking the Taoiseach.

The Deputy has raised a point here. Test it and see the response he gets.

I have tested it with the Taoiseach and he has said "No".

A treasure hunt.

I am sure the Deputy accepts the utter independence of the Office of the Comptroller and Auditor General. Three reports have been published, broadly very supportive of the activities here and-----

After the fact.

-----the fourth is under way.

It is too late.

There are personnel from the Office of the Comptroller and Auditor General in NAMA-----

The property deals have gone.

-----who have access to all of the files, registers and transactions. I know the Deputy does not expect me to interfere with the work of the commission of investigation being set up with regard to IBRC.