S.I. No. 505/2010 - National Asset Management Agency (Conferral of Additional Function) Order 2010.

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 5th November, 2010.

I, BRIAN LENIHAN, Minister for Finance, in exercise of the power conferred on me by section 11(3) of the National Asset Management Agency Act 2009 (No. 34 of 2009), having regard to the purposes of that Act and believing that to achieve the purposes of NAMA it is necessary to confer on NAMA an additional function (being a function connected with its existing functions), hereby make the following Order:

Citation.

1. This Order may be cited as the National Asset Management Agency (Conferral of Additional Function) Order 2010.

Conferral of Function

2. NAMA has, in addition to its functions set out in the National Asset Management Agency Act 2009 (No. 34 of 2009), the additional function of taking, in accordance with Part 6 of that Act, all necessary steps to acquire, as expeditiously as possible, such eligible bank assets from such participating institutions as it considers necessary or desirable for achieving the purposes of the Act, subject to such amended or varied terms or conditions as it thinks fit.

GIVEN under my Official Seal,

22 October 2010.

BRIAN LENIHAN,

Minister for Finance.