Eoin Ó Broin
Question:304. Deputy Eoin Ó Broin asked the Minister for Transport the number of inbound and outbound trains stopped at Adamstown Train Station in each of the years from 2020 to 2025 inclusive, in tabular form. [5322/26]
View answerRail Network
Questions (304, 305)
Eoin Ó Broin
Question:305. Deputy Eoin Ó Broin asked the Minister for Transport the estimated number of inbound and outbound journeys taken between Adamstown, Heuston Station and Grand Canal Dock in each of the years from 2020 to 2025 inclusive, in tabular form. [5323/26]
View answerWritten answers
I propose to take Questions Nos. 304 and 305 together.
As Minister for Transport, I have responsibility for policy and overall funding in relation to public transport; however, I am not involved in the day-to-day operations of public transport.
The query raised by the Deputy is an operational matter for Iarnród Éireann. I have, therefore, referred the Deputy's question to the company for direct reply. Please advise my private office if you do not receive a reply within ten working days.
A referred reply was forwarded to the Deputy under Standing Orders.
Question No. 305 answered with Question No. 304.
Road Safety
Questions (306, 308)
Robert O'Donoghue
Question:306. Deputy Robert O'Donoghue asked the Minister for Transport the rationale for allowing electric scooters to be used on public roads without mandatory high-visibility clothing, helmets, insurance or adequate lighting, given their increasing involvement in collisions with motorists and pedestrians; and if he will make a statement on the matter. [5349/26]
View answerRobert O'Donoghue
Question:308. Deputy Robert O'Donoghue asked the Minister for Transport if a full review of the Road Traffic (Electric Scooters) Regulations is planned, in view of safety concerns for other road users and pedestrians; the timeline for such a review; and if he will make a statement on the matter. [5352/26]
View answerWritten answers
I propose to take Questions Nos. 306 and 308 together.
As Minister of State with responsibility for International & Road Transport, Logistics, Rail & Ports, I wish to advise that the Government introduced regulations in 2024 to provide for the safe use of e-scooters in public places. E-scooters may only be used on public roads if they comply with the 2024 Regulations and the rules of the road apply to e-scooters in the same way as bicycles.
Further regulations address road signs, location restrictions, detention and seizure powers for An Garda Siochana and fixed charge penalties.
E-scooters do not have EU type approval and compliant e-scooters do not require registration, motor tax or a driving licence. As compliant e-scooters do not fall within the requirements of the Motor Insurance Directive, they do not require motor insurance.
E-scooters are required to be fitted with front and rear lights, visible to a distance of at least 50m, and reflectors. Lighting must be maintained in good working condition and its use is mandatory during lighting-up hours.
Protective equipment is currently advised but not mandatory. The Department intends to examine this issue for e-scooters from a policy perspective, with a view to considering mandating helmets for these and other vulnerable road users, if the evidence supports such a change.
The Road Safety Authority, which is responsible for public road safety education, frequently undertakes campaigns to promote awareness, among pedestrians, cyclists and e-scooter users, of the need for personal protective equipment and visibility on our roads. The safety benefits of reflective clothing and helmets are set out in detail in the Rules of the Road booklet.
Department officials engage with An Garda Siochana on an ongoing basis with respect to enforcement of e-scooter regulations. My officials have asked them to provide any suggestions or changes to legislation that would assist them in e-scooter enforcement.
Road Safety
Questions (307)
Robert O'Donoghue
Question:307. Deputy Robert O'Donoghue asked the Minister for Transport if he will review the absence of a mandatory insurance requirement for electric scooters, particularly in cases involving injury to pedestrians or damage to property; whether he accepts that the current situation leaves injured parties without adequate redress; and if he will make a statement on the matter. [5351/26]
View answerWritten answers
As Minister of State with responsibility for International & Road Transport, Logistics, Rail & Ports, I wish to advise that e-scooters are classified in Irish law as a powered personal transporters (PPTs). Because PPTs fall beneath the exemption threshold set out in the EU Motor Insurance Directive, they do not require motor insurance.
PPTs are, in general, treated in the same way as bicycles under legislation. The Deputy may wish to note that, as for a collision with a bicycle, an individual who has been injured in a collision with an e-scooter may make a claim to the Personal Injuries Resolution Board, the independent state body responsible for resolving personal injury claims. My Department has no plans to impose obligatory insurance requirements on PPTs at this time.
Question No. 308 answered with Question No. 306.
Departmental Funding
Questions (309, 310)
James Geoghegan
Question:309. Deputy James Geoghegan asked the Minister for Transport if the National Transport Agency can specify with some granularity and specifics as to what Dublin City Council were allocated €250,000.00 for under the 2026 Active Travel budget for a project entitled ‘Strand Road Active Travel Trial’; and what exactly DCC submitted to obtain this funding; and if he will make a statement on the matter. [5382/26]
View answerJames Geoghegan
Question:310. Deputy James Geoghegan asked the Minister for Transport if the National Transport Agency can specify with some granularity and specifics as to what Dublin City Council were allocated funding for under the 2026 Active Travel budget for projects (details supplied); and what exactly DCC submitted to obtain this funding; and if he will make a statement on the matter. [5383/26]
View answerWritten answers
I propose to take Questions Nos. 309 and 310 together.
As Minister for Transport, I have responsibility for policy and overall funding in relation to Active Travel. Funding is administered through the National Transport Authority (NTA), who, in partnership with local authorities, have responsibility for the selection and development of specific projects in each local authority area.
Noting the role of the NTA in the matter, I have referred your question to that agency for a more detailed answer. If you do not receive a reply within 10 working days, please contact my private office.
A referred reply was forwarded to the Deputy under Standing Orders.
Question No. 310 answered with Question No. 309.
National Transport Authority
Questions (311)
Shane Moynihan
Question:311. Deputy Shane Moynihan asked the Minister for Transport for an update on planned engagement, alongside the NTA, with SPSV sectoral representatives on the issue of fixed pricing models; and if he will make a statement on the matter. [5389/26]
View answerWritten answers
The National Transport Authority (NTA) is the independent transport regulator of the SPSV sector, and I am not involved in the day-to-day operations of that sector.
I wrote to the NTA in November last to request clarification on the regulatory position on the Uber fixed price fare for the information of taxi operators and public representatives alike. In its response to my letter, I was advised by the NTA that the charging of a fixed fare is in accordance with the applicable regulations. I have also been advised that the NTA continues to keep the regulatory model under review. Senior officials from my department met with the NTA to discuss the response on 09 December 2025.
I also formally requested the urgent consideration of the matter at a special meeting of the Advisory Committee on Small Public Service Vehicles on 11 December last which officials from the department and NTA attended. The Advisory Committee is an independent body established under the Taxi Regulation Act 2013 and its primary function is to provide advice to the NTA as regulator and to the Minister for Transport in relation to taxis, hackneys and their drivers. Membership of the Committee includes drivers, operators, and representatives of consumer interests and disability interests.
The structure of the SPSV market has undoubtedly changed over the last number of years, particularly in relation to the role of dispatch operators. With this in mind, I have requested that the NTA conducts a regulatory assessment of dispatch operator licensing in Ireland, in the context of ensuring that the regulatory framework for this element of the overall sector is sufficiently up to date and robust to respond to developments in the SPSV market, since the enactment of the Taxi Regulation Act 2013. In addition, I have requested that all stakeholders are given the opportunity to feed into this work as soon as possible. I will also be meeting with representatives of the sector in the coming weeks.
Road Network
Questions (312)
Brendan Smith
Question:312. Deputy Brendan Smith asked the Minister for Transport if he will ensure a substantial increase in funding for the non-national road network for Cavan and Monaghan county councils in 2026, in view of the urgent need to upgrade and carry out repairs to roads throughout both counties; and if he will make a statement on the matter. [5401/26]
View answerWritten answers
The improvement and maintenance of regional and local roads is the statutory responsibility of each local authority and Exchequer funding is intended to supplement local authorities’ own resources.
The 2026 regional and local road grant allocations will be finalised shortly and will take into account the expenditure outturn on projects and programmes in the preceding year. Within the budget available, the objective is to allocate funding to eligible local authorities on as equitable a basis as possible taking the length of the road network into account. The main focus of the grants will continue to be the protection and renewal of the regional and local road network.
Road Network
Questions (313)
William Aird
Question:313. Deputy William Aird asked the Minister for Transport the engagement to date between the local authority and his Department regarding a relief road (details supplied); the dates on which such engagements occurred; the officials involved; the outcomes or actions arising from those discussions; and if he will make a statement on the matter. [5109/26]
View answerWritten answers
As Minister for Transport, I have responsibility for overall policy and exchequer funding in relation to the National Roads Programme. Under the Roads Acts 1993-2015 and in line with the National Development Plan (NDP), the planning, construction and design of individual national roads is a matter for Transport Infrastructure Ireland (TII), in conjunction with the local authorities concerned. This is also subject to the Infrastructure Guidelines and the necessary statutory approvals. In this context, TII is best placed to advise you in relation to the Mountmellick Relief Road and the Portlaoise Northern Relief Road.
Noting the above position, I have referred your question to TII for a direct reply. Please advise my private office if you do not receive a reply within 10 working days.
A referred reply was forwarded to the Deputy under Standing Orders.
Tax Collection
Questions (314)
Pearse Doherty
Question:314. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance the total corporation tax collected from non-resident investment funds investing in Irish property; and if he will make a statement on the matter. [5181/26]
View answerWritten answers
I am advised by Revenue that non-resident investment funds subject to corporation tax are not required, when filing their tax return, to distinguish themselves from non-resident companies, as that information does not impact on how they compute their corporation tax liability. As such, there is no basis upon which to establish an estimate of the total corporation tax collected from non-resident investment funds investing in Irish property.
Tax Collection
Questions (315)
Pearse Doherty
Question:315. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance further to Parliamentary to Question No. 227 of 18 December 2025, if he is concerned by the very low level of tax being paid by legal structures profiting from Irish property (details supplied); and if he will make a statement on the matter. [5182/26]
View answerWritten answers
As highlighted in my response to a recent question from the Deputy, the IREF regime is predominantly a withholding tax regime that applies to an Irish fund where 25 per cent or more of the value of the assets in a fund is derived from Irish property such as land and buildings. Where the profits of the IREF are transferred to certain investors, the IREF is required to apply IREF withholding tax (IREF WHT) at a rate of 20 per cent.
There are exemptions from IREF WHT for certain Irish and non-resident investors, for example, for collective, widely held investments where an investor is a domestic or EU/EEA equivalent pension scheme, investment fund or a life assurance company. These exemptions are in line with international taxing norms for such investors and are necessary to prevent double taxation in the hands of the ultimate individual investor.
While these exemptions from IREF WHT have limited the impact of the regime from a tax yield perspective, it is nonetheless a policy objective to allow exempt investors to invest in Irish property in a way that does not give rise to double taxation.
I note the Deputy has quoted the Funds Sector 2030 report, which estimates that IREFs hold €28 billion in Irish property including €8 billion in residential property.
Based on the latest data available from Revenue, I understand approximately €27.4 billion of Irish property assets were held by IREFs for accounting periods ending in 2024, of which roughly €8.6bn was residential. Each year, Revenue publishes analysis of payments and returns including details of statistical data on IREFs, see link below.
(www.revenue.ie/en/corporate/documents/research/ct-analysis-2025.pdf).
As a general comment in relation to IREF WHT receipts, I understand a number of factors influence total receipts year-to-year. I am informed by Revenue that several IREFs report realised and unrealised losses, particularly in the commercial and retail property sectors, due to market fluctuations. These losses reduce the profits available for distribution to investors and result in fewer taxable events, which in turn lowers the amount of IREF WHT receipts. There are also other reasons for fluctuations in IREF WHT receipts such as the frequency of IREF taxable events. In addition, market dynamics play a role in shaping IREF WHT receipts, for example, some IREFs may have exited the market, restructured their holdings or disposed of assets in recent years.
Departmental Inquiries
Questions (316)
Pearse Doherty
Question:316. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance the progress of all property funds reaching a target of 60% leverage limit on the ratio of property funds’ total debt to their total assets and 60% will be reached by the five year time limit; the current level of leverage in Irish property funds; the leverage level of the top 10% of most leveraged funds; and if he will make a statement on the matter. [5183/26]
View answerWritten answers
I am advised by the Central Bank of Ireland that the phased implementation of the macroprudential measures for Irish property funds, which were announced in November 2022, continues to be monitored.
As outlined in the latest Central Bank Financial Stability Review 2025:II, Irish property funds continue to make progress towards meeting the 60 per cent leverage limit by the end of the implementation period in November 2027.
Average leverage in the sector has decreased by 1.5 percentage points from approximately 48 per cent to 46.3 per cent, from end-2023 to end-2024. Data for end-2025 is not yet available.
The average decline across the sector also reflects actions among higher leveraged funds, i.e. those with leverage greater than 60 per cent to reduce leverage. This aggregate decrease reflects funds actions to reduce leverage through a combination of asset disposals, reductions of non-equity liabilities and new equity inflows.
Additionally, while improving valuations in some commercial property sectors may help funds adjust their leverage towards the limit, further leverage reduction is needed for some funds. In this respect, the Central Bank continues to engage with fund managers, requiring Irish property funds that are above or close to the leverage limit to submit plans on how they actively intend to reduce of maintain leverage below 60 per cent.
The Central Bank expects that funds continue to set out and implement actions over the remainder of the implementation period to ensure leverage is reduced in a gradual and orderly manner to comply with the limit in November 2027.
Departmental Inquiries
Questions (317)
Pearse Doherty
Question:317. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance to provide an update on the pursuit of reciprocity with other European jurisdictions in relation the macroprudential policy framework for Irish property funds; and if he will make a statement on the matter. [5184/26]
View answerWritten answers
At present there is no formal framework for reciprocation of macroprudential policy measures for non-bank financial intermediation (NBFI), including investment funds, in the EU. In the absence of such a framework, I am informed by the Central Bank of Ireland that, since the measures for Irish property funds were announced in November 2022, they have actively engaged with other national competent authorities in Europe to monitor whether exposure to Irish property assets has increased in these jurisdictions.
With regard to further action at EU-level, the Commission’s Communication on the ‘Further development of capital market integration and supervision within the Union’, published on 04 December 2025, referenced the need for “holistic, simpler and well-coordinated macroprudential oversight and risk monitoring across the financial system” and indicated that targeted actions are being considered to strengthen macroprudential oversight and to manage systemic risks stemming from NBFI. We await these proposals from the Commission, which are expected in H2 2026.
World Bank
Questions (318)
Pearse Doherty
Question:318. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance to specify which Minister brought the memos to Cabinet to approve allocations to World Bank programme IDA 18, IDA 19, and IDA 20 respectively; and if he will make a statement on the matter. [5185/26]
View answerWritten answers
Ireland is a long-standing and strong supporter of the International Development Association (IDA), one of five organisations in the World Bank Group, that we joined in 1960 when it was established. IDA is the arm of the World Bank that provides highly concessional funding through grants and very low interest rates to the poorest countries of the developing world. It is one of the largest sources of assistance for over 70 of the world's poorest countries, 39 of which are in Africa, and it is the single largest donor for basic infrastructure and social services in these countries, many of which face a myriad of challenges against a backdrop of rising indebtedness and growing debt sustainability problems.
The Minister for Finance in his role as Ireland’s Governor at the World Bank Group, and on the basis of recommendations made by the Department of Finance who leads on the IDA Replenishment negotiations, approved Ireland’s contributions to the IDA18, IDA19 and IDA20 Replenishments in line with the provisions of The International Development Association Act 1960 (as amended). The contribution to IDA21 was approved by the Minister and Cabinet in addition to payments to IDA18, IDA19, and IDA20.
Departmental Inquiries
Questions (319)
Pearse Doherty
Question:319. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance further to Parliamentary Question No. 817 of 13 January 2026, to provide details on the outcome of the 209 compliance interventions completed on qualifying companies in 2024, and the 155 compliance interventions completed in 2025; the number of compliance interventions each year prior since 2016; and if he will make a statement on the matter. [5202/26]
View answerWritten answers
I am advised that as part of its compliance programme, Revenue undertakes compliance projects to satisfy itself to the accuracy or otherwise of returns filed by qualifying companies having regard to the requirements set out in section 110 of the Taxes Consolidation Act. In 2024, 209 compliance interventions were completed on qualifying companies and in 2025, 155 compliance interventions were completed. The total yield arising from the compliance interventions completed in 2024 and 2025 is €14.01 million. The yield amount includes tax, interest, penalties and the tax value of losses restricted.
I am advised the Revenue systems used to record and classify compliance interventions have evolved progressively throughout the years. As a result, the data is not directly comparable on a year by year basis. With this caveat, the number of appraisals and compliance interventions completed on qualifying companies from 2016 to 2023 is set out in tabular format below.
|
Year |
Number of Appraisals Completed* |
Number of Compliance Interventions Completed |
|
2016 |
549 |
350 |
|
2017 |
660 |
211 |
|
2018 |
892 |
297 |
|
2019 |
848 |
416 |
|
2020 |
792 |
134 |
|
2021 |
1000 |
69 |
|
2022 |
1019 |
81 |
|
2023 |
952 |
172 |
*In advance of a case going to intervention, Revenue first carries out an appraisal where it considers whether risk exists in the case, and if so the level of tax risk.
Vehicle Registration
Questions (320)
Pearse Doherty
Question:320. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance further to Parliamentary Question No. 818 of 13 January 2026, to outline the rationale for not providing information on the categories of SPE/S.110 companies given that this information is required on the registration form for these vehicles; and if he will make a statement on the matter. [5203/26]
View answerWritten answers
I acknowledge that there was an oversight in the response issued to the Deputy in response to Parliamentary Questions No. 818 [74050/25] and 820 [74052/25] of 13 January 2026. The response should have read:
“I am advised by the Central Bank of Ireland (CBoI) that it does not publish information related to the Irish economic activity of Special Purpose Entities (“SPEs”) and therefore a breakdown of the share of assets held in SPEs according to Irish economic activity cannot be provided.
Additionally, I am advised by the CBoI that it does not publish information on the ownership of SPEs by charitable trusts and that therefore a breakdown of SPEs owned by charitable trusts is not available.”
To respond to your query in PQ 5203/25, I note that the CBoI can provide a breakdown of the domestic assets held by Irish SPEs by type of asset and this is set out below.
Value of Assets[[1]] Held by Irish SPEs Where the Other Party is Irish Resident
|
Outstanding Amounts - € billions |
|
|
|
Assets with Irish Counterparties |
|
2025 Q3 |
|
Deposits and loan claims |
Total |
81.8 |
|
|
Financial Vehicle Corporations (FVC)[[2]] |
20.2 |
|
|
Other SPE[[3]] |
61.6 |
|
Securitised loans |
Total |
60.6 |
|
|
FVC |
42.5 |
|
|
Other SPE |
18.1 |
|
Securities other than shares |
Total |
16.6 |
|
|
FVC |
7.6 |
|
|
Other SPE |
9.0 |
|
Total |
|
159.0 |
Further data is available on the CBoI website. In particular, I would like to draw your attention to Chart 1 of the Statistical Release for SPEs Q3 2025 available at this link on the CBoI [website], which provides a breakdown of the top 5 activity types of FVC’s and Other SPE’s by total asset value.
[[1]] The table is based on current SPE data for Q3 2025. The release of Q4 2025 data is scheduled for 6 March 2026
[[2]] Financial vehicle corporations (FVCs) are entities set up to handle securitisation transactions, separating payment obligations from the originator.
[[3]] A Special Purpose Entity (SPE) is a company specially created to fulfil a narrow, specific purpose. The reasons for setting up an SPE include holding pools of assets as security for loans and creating liquidity for entities.
Tax Data
Questions (321)
Pearse Doherty
Question:321. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance further to Parliamentary Question No. 824 of 13 January 2026, to provide a comprehensive list of all ‘limited scope’ double taxation agreements that go alongside Tax Information Exchange Agreements (TIEA) or standalone; and if he will make a statement on the matter. [5204/26]
View answerWritten answers
Ireland has signed 78 comprehensive double taxation treaties, 75 of which are in effect[[1] (finance.cloud.gov.ie/apps/eDocs/s/F585/Files/F585-007-2019/2026/260121%20PQ%205204-26%20Limited%20scope%20treaties.docx#_ftn1)]. The text of each of Ireland’s double taxation treaties is available [here] (www.revenue.ie/en/tax-professionals/tax-agreements/double-taxation-treaties/tax-treaties-by-country.aspx) on Revenue.ie. with the dates of effect of those treaties available [here (www.revenue.ie/en/tax-professionals/tax-agreements/dates-of-effect/index.aspx)]. In addition to the comprehensive double taxation treaties, Ireland has concluded 26 Tax Information Exchange Agreements (TIEAs). Ireland’s [list of TIEAs (www.revenue.ie/en/tax-professionals/tax-agreements/tiea/index.aspx?page=g)] is published on Revenue.ie.
Ireland has concluded three “Limited Scope Agreements” – with Jersey, Guernsey and the Isle of Man. In contrast to the comprehensive double taxation treaties, these Agreements are limited in scope and primarily prevent the double taxation of certain sources of income of individuals. Ireland’s three [Limited Scope Agreements] (www.revenue.ie/en/tax-professionals/tax-agreements/tiea/index.aspx?page=g) are published on Revenue.ie, alongside the TIEAs referred to above.
For ease of reference, Ireland’s full suite of comprehensive Double Taxation Agreements (DTAs), Limited Scope Agreements and Tax Information Exchange Agreements (TIEAs) is set out hereunder in tabular form.
[[1]] (www.finance.cloud.gov.ie/apps/eDocs/s/F585/Files/F585-007-2019/2026/260121%20PQ%205204-26%20Limited%20scope%20treaties.docx#_ftnref1) Treaties with Ghana, Kenya and Liechtenstein have yet to be ratified.
(i) Comprehensive DTAs – Ireland has signed 78 comprehensive DTAs – 75 have been ratified by Ireland – DTAs with Liechtenstein, Ghana and Kenya have yet to be ratified
|
Albania |
Finland |
Lithuania |
Saudi Arabia |
|
Armenia |
France |
Luxembourg |
Serbia |
|
Australia |
Georgia |
Macedonia |
Singapore |
|
Austria |
Germany |
Malaysia |
Slovak Republic |
|
Bahrain |
Ghana |
Malta |
Slovenia |
|
Belarus |
Greece |
Mexico |
South Africa |
|
Belgium |
Hong Kong |
Moldova |
Spain |
|
Bosnia & Herzegovina |
Hungary |
Montenegro |
Sweden |
|
Botswana |
Iceland |
Morocco |
Switzerland |
|
Bulgaria |
India |
Netherlands |
Thailand |
|
Canada |
Israel |
New Zealand |
Turkey |
|
Chile |
Italy |
Norway |
Ukraine |
|
China |
Japan |
Oman |
United Arab Emirates |
|
Croatia |
Kazakhstan |
Pakistan |
United Kingdom |
|
Cyprus |
Kenya |
Panama |
United States |
|
Czech Republic |
Korea |
Poland |
Uzbekistan |
|
Denmark |
Kosovo |
Portugal |
Vietnam |
|
Egypt |
Kuwait |
Qatar |
Zambia |
|
Estonia |
Latvia |
Romania |
|
|
Ethiopia |
Liechtenstein |
Russia |
|
(ii)Limited Scope Agreements – Ireland has signed three Limited Scope Agreements – all have been ratified by Ireland
|
Guernsey |
Isle of Man |
Jersey |
(i)TIEAs – Ireland has signed 26 TIEAs – all have been ratified by Ireland
|
Anguilla |
Cayman Islands |
Jersey |
St Christopher and Nevis |
|
Antigua & Barbuda |
Cook Islands |
Liechtenstein |
St Lucia |
|
Argentina |
Dominica |
Macao |
St Vincent & The Grenadines |
|
Bahamas |
Gibraltar |
Montserrat |
Turks & Caicos Islands |
|
Belize |
Grenada |
Marshall Islands |
Vanuatu |
|
Bermuda |
Guernsey |
Samoa |
|
|
British Virgin Islands |
Isle of Man |
San Marino |
|
Departmental Inquiries
Questions (322)
Pearse Doherty
Question:322. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance for an update on the legislation to dissolve NAMA; the total assets still under management by NAMA; and if he will make a statement on the matter. [5250/26]
View answerWritten answers
As the Deputy will be aware, on 2 July 2024, the then Minister for Finance Jack Chambers secured Cabinet approval for the priority drafting of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill. When enacted, the Bill will facilitate the orderly conclusion of the Special Liquidation of IBRC and the dissolution of NAMA in accordance with NAMA’s 2021 Strategic Plan. The Bill when enacted will also provide for any residual activity to be transferred to the NTMA to be managed until completion.
The Bill is at an advanced stage of drafting. The drafting process has involved significant legal and policy complexity. Officials are working intensively with the OPC at present, in consultation with NAMA, the IBRC Special Liquidators and the NTMA, to complete the drafting process. It is anticipated that the Bill will be published and brought before the Oireachtas in Q1 2026.
Pending the enactment of legislation to formally dissolve the Agency, NAMA continues to proceed with its deleveraging activity and the resolution of its residual loan book. The value of NAMA’s remaining portfolio is approximately €46 million as of 31 December 2025. NAMA is also managing around five active cases that involve outstanding litigation with a view to obtaining the best achievable outcome for the taxpayer.