On foot of the revelations in recent days with regard to NAMA's activities-----

Allegations, please.

-----it is clear that much of what has happened was facilitated by the veil of secrecy surrounding the agency's operations. It must be remembered that the previous Fianna Fáil Government created NAMA at a cost of billions to Irish taxpayers and yet did not require any transparency or accountability from it.

The Senator was not here for yesterday's vote.

These are the facts.

The Senator will have an opportunity on the NAMA and Irish Bank Resolution Corporation Transparency Bill.

Senator Lorraine Higgins to continue, without interruption.

The National Asset Management Agency Act which governs the activities of the agency is severely limited in scope and has helped to create this monster which is being run in a way that is contrary to the public interest. We do not know what deals are being done and nor do we know the identities of those who are buying properties from the agency. It is not right to vest control over private sector assets to a body which could be subject to influence in the absence of accountability. NAMA has a critical role to play in Ireland's economic recovery. We urgently need to restore confidence in the agency. We could outline any number of allegations during the coming days, but we need to do something constructive. We must begin by reviewing the draconian powers the agency possesses. In addition, we need to consider amending the NAMA Act in order to make the agency more accountable and transparent to the people. We cannot have unsavoury practices continue and we must strive for better standards from the agency. For that reason, I request that the Ministers for Finance and Justice and Equality come before the House early in the new year in order to debate the possibility of amending the legislation to allow for accountability. The latter was not done when Fianna Fáil was in government.

We had a vote on the issue.

Senator Lorraine Higgins should stand up and be counted.

If we fail to do as I have outlined, we will have learned nothing.

The Senator should stand up and be counted.

I raised this matter last week and no one in Fianna Fáil supported me at that stage.

With the permission of Senator Mark Daly, I will allow Senator John Crown who is in a hurry and needs to be elsewhere to make his contribution now.

I am not in a rush. I just want to ensure I will have an opportunity to contribute.

The Senator will have that opportunity.

Senator Lorraine Higgins will be delighted to hear that the NAMA and Irish Bank Resolution Corporation Transparency Bill is on the Order Paper. In that context, I request that by leave of the House No. 17 be taken before No. 1. I would welcome a debate on NAMA and perhaps the House could take the Bill to which I refer tomorrow.

The allegations made by those opposite were unfounded. They did not substantiate a single one.

Is Senator Mark Daly proposing an amendment to the Order of Business?

Yes.

What is the amendment?

I propose that No. 17 be taken before No. 1 in order to allow for publication of the NAMA and Irish Bank Resolution Corporation Transparency Bill. I am sure Senator Lorraine Higgins and others who are seeking transparency in NAMA will support the Bill which would allow for all the properties being sold by or on behalf of the agency to be listed on a website. In the past notifications have been placed in the newspapers in respect of properties that were sold. However, nobody knew that these were for sale. How is that good for the taxpayer? I used to be an auctioneer and I am aware that there are various ways of selling property. Doing so by way of backroom deals is not really in the interests of the taxpayer. If the Senator wants to peruse the Bill to which I refer, she will discover that it clearly states NAMA should sell all assets in an open and transparent manner and in the same way that State assets are disposed of.

Whether they are loans or property, they should be sold as if they are State assets. The Office of Public Works sells all State assets by tender or public auction. The banks which manage loan books on behalf of the National Asset Management Agency should sell these assets in the same manner as the OPW as that would create full confidence in NAMA and its activities.

I support Senator David Norris's call to invite the Pope to visit Ireland. He is a living example of the church he leads. He not only speaks about how people should act but acts in accordance with his words.