National Asset Management Agency Act 2009
- PART 2 National Asset Management Agency
- Chapter 2 Membership of Board and Related Matters
- 18. Functions of Board.
- 19. Membership of Board.
- 20. Term of office of appointed members.
- 21. Remuneration, etc., of appointed members.
- 22. How appointed members cease to hold office.
- 23. How ex-officio members cease to be Board members.
- 24. Filling of casual vacancies, etc.
- 25. Nomination and remuneration, etc., of Chairperson.
- 26. Meetings of Board.
- 27. Electronic meetings.
- 28. Resolutions by circulation of copies.
- 29. Seal of NAMA, etc.
- 30. Disclosure of interests.
- 31. Register of Board members’ interests.
- 32. Audit committee, credit committee, finance committee and risk-management committee.
- 33. Other committees.
- 34. Indemnification of members of Board and officers of NAMA, etc.
- 35. Codes of practice.
- 36. Application of certain provisions of this Chapter to directors of NAMA group entities.
- PART 3 Finance, Planning, Accountability and Reporting
- 46. Financing arrangements, expenses and advances from Central Fund.
- 47. Financing arrangements — Minister may issue debt securities.
- 48. Financing arrangements — NAMA, etc., may issue debt securities.
- 49. Financing arrangements — NAMA, etc., may issue subordinated debt securities.
- 50. Financing arrangements — limits on borrowings.
- 51. Application of Borrowing Powers of Certain Bodies Act 1996.
- 52. Financing arrangements — treasury services.
- 53. Annual statements.
- 54. Annual accounts.
- 55. Quarterly reports.
- 56. Other reports to Minister.
- 57. Audit of accounts by Comptroller and Auditor General.
- 58. Accountability to Committee of Public Accounts.
- 59. Appearances before another Oireachtas Committee.
- 60. Repayment to Central Fund to redeem debt.
- PART 4 Designation of Credit Institutions as Participating Institutions and Designation of Eligible Bank Assets
- Chapter 1 Designation of Participating Institutions
- 61. Definition (Chapter 1).
- 62. Applications for designation as participating institution.
- 63. Effect of application for designation, etc.
- 64. Information, etc., to be provided in support of application for designation.
- 65. Capacity of applicant credit institutions, etc.
- 66. Dealings by applicant credit institutions, etc., with eligible bank assets after application for designation.
- 67. Designation of participating institutions.
- 68. Obligations of participating institutions.
- PART 5 Valuation Methodology
- 72. Interpretation (Part 5).
- 73. Determination of acquisition values — valuation dates, etc.
- 74. Determination of acquisition values — guidelines, etc.
- 75. Acquisition values.
- 76. Determination of long-term economic values.
- 77. Market values.
- 78. Regulations in relation to certain reports.
- 79. Regulations in relation to determination of values.
- PART 6 Acquisition of Bank Assets and Related Matters
- Chapter 1 Acquisition of Bank Assets
- 80. Applicant credit institutions and participating institutions to provide information about eligible bank assets.
- 81. Production of documentation, books and records for inspection.
- 82. Provision of information and explanations, etc.
- 83. Obligations to co-operate and act in good faith, etc.
- 84. Decision about acquisition of eligible bank assets.
- 85. NAMA to identify eligible bank assets for acquisition.
- 86. NAMA may specify general terms and conditions of acquisition.
- 87. NAMA to prepare acquisition schedule.
- 88. Errors or omissions in proposed acquisition schedules.
- 89. Amendment of acquisition schedule.
- 90. Effect of service of acquisition schedule.
- 91. Effect of service of acquisition schedule in relation to foreign bank assets.
- 92. Payment for bank assets.
- 93. Clawback of overpayments.
- 94. Dealings with bank assets after service of acquisition schedule until date of acquisition.
- 95. Books, records and title documents of participating institutions.
- 96. Notice to debtors, etc., of acquisition of bank assets.
- 97. NAMA to notify participating institutions of completion of acquisition process.
- 98. Dispute over acquisition value.
- Chapter 2 Effects of Acquisition of Bank Assets
- 99. NAMA to have rights of creditors after acquisition of bank assets.
- 100. Exercise of certain rights of set-off.
- 101. Enforcement of certain representations, etc.
- 102. Acquisition of bank assets not to affect conditions, etc.
- 103. Acquisition of bank assets not to give rise to cause of action, etc.
- 104. NAMA to be notified of certain matters.
- 105. Acquisition of bank assets not to render NAMA liable for wrongs by participating institutions.
- 106. Rights of others not affected by acquisition of bank assets, etc.
- 107. NAMA not required to register certain instruments, etc.
- 108. NAMA, etc., may give certificates in relation to bank assets held.
- 109. NAMA, etc., may give certain directions in relation to bank assets.
- 110. Effect of acquisition of bank assets on certain other rights.
- 111. Minister’s power to modify application of section 110.
- PART 7 Review of Decisions Relating to Acquisition
- Chapter 1 Expert Reviewer
- 112. Appointment and functions of expert reviewer.
- 113. Procedure of expert reviewer.
- 114. Objections to proposed acquisition of bank assets.
- 115. Materials, etc., to be made available to expert reviewer.
- 116. Opinion of expert reviewer.
- 117. Confirmation by Minister of acquisition, etc.
- 118. Costs.
- Chapter 2 Review of Valuations
- 119. Appointment of valuation panel.
- 120. Procedure of valuation panel.
- 121. Objection to value placed on bank assets acquired from participating institution.
- 122. Dispute over total portfolio acquisition value.
- 123. Material, etc., to be made available to valuation panel.
- 124. Review by valuation panel.
- 125. Minister’s determination.
- 126. Withdrawal of dispute.
- 127. Costs of review of valuations.
- PART 8 Relationship between NAMA and Participating Institutions
- 128. Definition (Part 8).
- 129. Participating institutions to act in utmost good faith.
- 130. Breach of statutory requirements.
- 131. Servicing of acquired bank assets by participating institutions.
- 132. Other servicing arrangements.
- 133. NAMA may give directions about certain bank assets not acquired.
- 134. Additional payment on servicing of acquired bank assets.
- 135. Participating institutions to indemnify NAMA.
- 136. Participating institutions to be agent of subsidiaries, etc.
- PART 9 Powers of NAMA in Relation to Assets
- Chapter 2 General Powers of NAMA in Relation to Assets
- 138. Interpretation (Chapter 2).
- 139. NAMA’s powers to dispose of bank assets.
- 140. Power to discharge prior charge.
- 141. Power of entry to protect value or condition of land or buildings.
- 142. Certain instruments by NAMA to be taken to be deeds.
- 143. Overreaching for protection of purchasers.
- 144. Effect of certain assurances of land.
- 145. Certain receivers not obliged to sell property, etc.
- 146. Powers of NAMA to enforce securities, etc.
- Chapter 3 Statutory Receivers
- 147. NAMA’s power to appoint statutory receivers.
- 148. Powers of statutory receivers.
- 149. Statutory receiver to be agent of chargor, etc.
- 150. Appointment of liquidator or examiner to companies whose assets are under control of statutory receiver.
- 151. Statutory receiver not obliged to sell property, etc.
- Chapter 5 Compulsory Acquisition of Land
- 157. Definitions (Chapter 5).
- 158. NAMA’s powers to acquire land compulsorily.
- 159. Application to Court for acquisition order.
- 160. Initial notice of acquisition.
- 161. Maps, plans and books to be deposited.
- 162. Consideration by Court of objections.
- 163. Acquisition order.
- 164. Notice to treat.
- 165. NAMA’s power to take possession.
- 166. Determination of compensation.
- 167. Court may make compulsory transfer order.
- 168. NAMA to inform Revenue Commissioners if certain liabilities exist.
- 169. Form and effect of compulsory transfer order.
- 170. Effect of compulsory acquisition without compulsory transfer order.
- 171. Service of notices.
- PART 10 Legal Proceedings
- Chapter 3 Legal Proceedings Generally
- 183. Application (Chapter 3).
- 184. Conduct of legal proceedings in relation to acquired bank assets.
- 185. Effect of acquisition, etc., of bank assets on legal proceedings — participating institution plaintiff, etc.
- 186. Effect of acquisition of bank assets on legal proceedings — NAMA, etc., may enforce judgment.
- 187. Effect of acquisition of bank assets on legal proceedings where participating institution not plaintiff.
- 188. Conduct of proceedings.
- 189. Costs.
- 190. Evidence — amount of debt due.
- 191. Evidence — application of Bankers’ Books Evidence Act 1879.
- 192. Limitation of power to grant injunctive relief.
- 193. Limitation of judicial review.
- 194. Limitation of certain rights of appeal to the Supreme Court.
- 195. Lites pendentes to have no effect, etc.
- PART 11 Use of Information
- 196. Definition (Part 11).
- 197. Deemed consent to disclosure of information.
- 198. Duty of confidentiality, etc., not contravened by provision of information or production of documents and books for inspection.
- 199. Duty of confidentiality, etc., not contravened by provision of information to, or production of documents and books for inspection by, potential purchasers.
- 200. Obligation to provide information, etc., to NAMA, etc., extends to provision to advisers.
- 201. Operation of Data Protection Acts 1988 and 2003.
- 202. Disclosure of confidential information.
- 203. Obligation to pass certain information to law-enforcement authorities.
- 204. Provision of information to Revenue Commissioners.
- 205. Disclosure by regulatory authorities.
- PART 13 Miscellaneous
- 211. Avoidance of certain transactions.
- 212. Provision of tax information to NAMA.
- 213. NAMA, etc., not to make payments in certain circumstances.
- 214. NAMA exempt from certain taxes.
- 215. Disapplication of certain provisions of Competition Act 2002 and Credit Institutions (Financial Support) Act 2008.
- 216. NAMA, etc., not to be taken to be carrying on banking business, etc.
- 217. Application of laws in relation to netting agreements, etc.
- 218. Certain bank assets not invalidated.
- 219. Nothing done under Act to be reorganisation or windingup measure.
- 220. Operation of certain provisions of Land Registration Rules 1972 to 2008.
- 221. Offence of lobbying NAMA, etc.
- 222. Protection from civil liability of persons who report certain misconduct.
- 223. Prohibition on penalisation.
- 224. False statements.
- 225. Surcharge on participating institutions.
- PART 15 Amendment and Modification of other Enactments
- 228. Operation of certain provisions of Companies Act 1963.
- 229. Operation of certain provisions of Companies (Amendment) Act 1983.
- 230. Disapplication of section 7 of Official Languages Act 2003.
- 231. Amendment of Building Societies Act 1989.
- 232. Amendment of Central Bank Act 1942.
- 233. Amendment of Companies Act 1963.
- 234. Amendment of Companies (Amendment) Act 1990.
- 235. Amendment of Finance Act 1970.
- 236. Amendment of Landlord and Tenant (Amendment) Act 1980.
- 237. Amendment of National Treasury Management Agency Act 1990.
- 238. Amendment of Planning and Development Act 2000.
- 239. Amendment of Stamp Duties Consolidation Act 1999.
- 240. Amendment of Taxes Consolidation Act 1997.
- 241. Amendment of Value-Added Tax Act 1972.
- SCHEDULE 3 Amendments of Other Acts
- PART 1 Amendment of Building Societies Act 1989
- PART 2 Amendment of Central Bank Act 1942
- PART 3 Amendment of Companies Act 1963
- PART 4 Amendments of Companies (Amendment) Act 1990
- PART 5 Amendment of Finance Act 1970
- PART 6 Amendments of Landlord and Tenant (Amendment) Act 1980
- PART 7 Amendments of National Treasury Management Agency Act 1990
- PART 8 Amendment of Planning and Development Act 2000
- PART 9 Amendment of Stamp Duties Consolidation Act 1999
- PART 10 Amendments of Taxes Consolidation Act 1997
- PART 11 Amendments of Value-Added Tax Act 1972