National Asset Management Agency Act 2009

75.

Acquisition values.

75.— (1) Subject to subsection (2) and any regulations made by the Minister under subsection (3) , the acquisition value of a bank asset is its long-term economic value as determined by NAMA.

(2) NAMA may, if it considers it appropriate after consultation with the Minister, and subject to any regulations made by the Minister under subsection (3) , having regard to—

( a) the purposes of this Act,

( b) the expected date of acquisition of the bank asset concerned,

( c) the type of bank asset,

( d) the laws of the European Communities governing State aid, and

( e) any other relevant matter affecting valuation,

determine that the acquisition value of a bank asset shall be—

(i) its market value, or

(ii) a value (between its long-term economic value and its market value) that NAMA considers appropriate in the circumstances, having regard to the matters specified in paragraphs (a) to (e) .

(3) The Minister may make regulations for the purposes of the application of subsection (2) . For that purpose the Minister shall have regard to the factors set out in paragraphs (a) and (c) to (e) of subsection (2) .

Annotations:

Editorial Notes:

E8

Power pursuant to section exercised (3.03.2010) by National Asset Management Agency (Determination of Long-Term Economic Value of Property and Bank Assets) Regulations 2010 (S.I. No 88 of 2010), as amended (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 16(11) and sch. 3 part 8 par. 43, S.I. No. 469 of 2010 and (22.10.2010) by National Asset Management Agency (Determination of Long-Term Economic Value of Property and Bank Assets) (Amendment) Regulations 2010 (S.I. No. 504 of 2010).

E9

Previous affecting provision: power pursuant to section exercised (21.12.2009) by National Asset Management Agency (Determination of Long-Term Economic Value of Property and Bank Assets) Regulations 2009 (S.I. No. 546 of 2009); subsequently revoked (3.03.2010) by National Asset Management Agency (Determination of Long-Term Economic Value of Property and Bank Assets) Regulations 2010 (S.I. No 88 of 2010), reg. 10.