National Asset Management Agency Act 2009

53.

Annual statements.

53.— (1) NAMA shall—

( a) for the financial year 2010, before 1 July 2010, and

( b) for each subsequent financial year 3 months before the commencement of it,

prepare a statement that complies with subsection (3) , and submit the statement to the Minister.

(2) The Minister shall cause copies of each statement to be laid before each House of the Oireachtas not later than—

( a) in the case of 2010, 30 November 2010, and

( b) in the case of a statement for any other financial year, one month after the beginning of the subsequent financial year.

(3) A statement submitted to the Minister under subsection (1) shall specify—

( a) the proposed objectives of NAMA’s activities and those of each NAMA group entity for the financial year concerned,

( b) the proposed nature and scope of the activities to be undertaken,

( c) the proposed strategies and policies for achieving those objectives, and

( d) the uses to which it is proposed to apply NAMA’s resources and those of each NAMA group entity.

(4) The Minister may omit from a copy of a statement laid before the Oireachtas under subsection (2) any matter that would disclose confidential information. If the Minister omits such matter from such a copy, he or she shall insert in its place a statement that matter has been omitted and a general description of the omitted matter.