NAMA bill passes committee stage at 5.30am
30/10/2009 - 07:13:18The Government's controversial NAMA legislation has passed the committee stage following a marathon debate that lasted until 5.30am this morning.
Around 250 amendments were considering during the latest phase of the debate, which was held in the Dáil chamber to allow all TDs to participate if they wished.
The Oireachtas Finance Committee sat through the night to ensure there will be enough time for the report stages of the legislation next week.
Finance Minister Brian Lenihan told the committee that he would introduce an amendment during the report stage giving him the power to order the banks to provide a flow of credit to households and businesses.
Opposition politicians had criticised the fact that the NAMA bill contained no measures to ensure that credit begins flowing to businesses..
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