Wednesday April 8, 2020

Extensive Nama powers mean no escape for property developers

The National Asset Management Agency (Nama) will have extensive statutory powers to prevent property developers from escaping the scope of its work.

25th July, 2009

The National Asset Management Agency (Nama) will have extensive statutory powers to prevent property developers from escaping the scope of its work.

The draft legislation for Nama, which will be published in the coming days, will also give the government power, in certain circumstances, to compulsorily purchase land, if this is needed to develop adjoining land which comes under Nama’s remit.

The legislation will not detail the discount at which the agency will...

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