Draft legislation sets out to protect agency from legal challenge

摘要

Nama is headed by interim managing director Brendan McDonagh and will employ around 50 staff.The board will comprise nine members, seven of whom will be appointed by the finance minister, NAMA's CEO and the chief executive ofIreland's National Treasury Management Agency who will be 'ex-officio' officers.In addition to the specialist valuation panel, there will also be audit, credit and risk committees.NAMA will be self-funding and will fund the purchase ofloans through the issue of bonds. It will be audited by Ireland's comptroller and auditor general and its first review will be in five years' time.