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.