PAC says NAMA should put new check system in place

by:Y&M Crafts     2019-09-07
The public account Board said it was \"unacceptable\" that NAMA failed to check whether the original buyer was lending \".
According to article 172nd of the National Asset Management Agency Act 2009, mitigation actions suitable for the country are not possible to sell the full price other than the loan to the debtor, and other buyers can buy it at market interest rates.
The state\'s expenditure regulator, C & AG, reviewed the sale of 80 assets and found that 78 of them needed to complete the declaration of Section 172.
The report also highlights that while statements in section 172nd were received in most cases, no verification of the statements was carried out.
In its annual report published today, the public account Board recommended that NAMA establish a system to verify the 172 statements it received during the remaining operating period.
The commission also stated that local authorities accept only 40% of the 7,000 housing units and sites suitable for housing, which need to be re-established
Given the current housing crisis,
It says NAMA housing units and locations suitable for housing should be redecorated
Proposed and reconsidered by local authorities.
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