LegalizeNATIONAL TREASURY MANAGEMENT AGENCY (MISCELLANEOUS PROVISIONS) ACT 2026
This is the act as published. Later amendments are not folded into the text below: each one is a separate act in this repository and an entry in this law's history.
Act to provide for the dissolution of the National Asset Management Agency; to provide for the transfer to the National Treasury Management Agency of the assets, rights, liabilities, obligations, causes of action and entitlements of, or relating to, the National Asset Management Agency; to provide for the transfer to the National Treasury Management Agency or a subsidiary of it of certain assets, rights, liabilities, obligations and entitlements of, or relating to, the Irish Bank Resolution Corporation Limited; to provide for additional functions of the National Treasury Management Agency and certain subsidiaries of it; for those purposes to provide for the repeal of the National Asset Management Agency Act 2009 and to amend the Irish Bank Resolution Corporation Act 2013 and the National Treasury Management Agency (Amendment) Act 2014 and certain other enactments; and to provide for related matters.
| Reference Number (1) | Number and Year (2) | Short Title of instrument (3) | Extent of Revocation (4) |
| 1. | S.I. No. 568 of 2009 | National Asset Management Agency (Designation of Eligible Bank Assets) Regulations 2009 | The whole instrument. |
| 2. | S.I. No. 88 of 2010 | National Asset Management Agency (Determination of Long-Term Economic Value of Property and Bank Assets) Regulations 2010 | The whole instrument. |
| 3. | S.I. No. 203 of 2010 | National Treasury Management Agency Act 1990 (Delegation of NAMA Banking Transactions) Order 2010 | The whole instrument. |
| 4. | S.I. No. 505 of 2010 | National Asset Management Agency (Conferral of Additional Function) Order 2010 | The whole instrument. |
SCHEDULE 2 Amendment Of Acts
Section 4(3)
| Reference Number (1) | Short title, number and year (2) | Provision affected (3) | Extent of Amendment (4) |
| 1. | Central Bank Act 1942 (No. 22 of 1942) | Schedule 2, Part 1 | By the deletion of item 36. |
| 2. | Landlord and Tenant (Amendment) Act 1980 (No. 10 of 1980) | Section 17 | In subsection (2)(a)— (a) in paragraph (v), by the substitution of “good estate management.” for “good estate management, or”, and (b) by the deletion of paragraph (vi). |
| 3. | National Treasury Management Agency Act 1990 (No. 18 of 1990) | Section 11 | By the substitution of the following section for section 11: “11. (1) Subject to section 16 of the National Treasury Management Agency (Amendment) Act 2000, sections 30, 36 and 48 of the National Treasury Management Agency (Amendment) Act 2014 and section 30 of the Future Ireland Fund and Infrastructure, Climate and Nature Fund Act 2024, the expenses incurred by the Agency or a subsidiary of the Agency in the performance of its functions shall be charged on and paid out of the Central Fund or the growing produce thereof. (2) In this section, ‘subsidiary of the Agency’ has the same meaning as it has in section 49B of the National Treasury Management Agency (Amendment) Act 2014.”. |
| Section 13C | By the substitution of the following section for section 13C: “13C. (1)This section applies to a person who is or has been— (a) a member of the Agency, (b) a member of the Investment Committee, any committee established under section 5B or any subcommittee established under section 5C, (c) a member of the staff of the Agency, (d) a member of the National Pensions Reserve Fund Commission, (e) a member of the Board of the National Development Finance Agency, (f) a director of a subsidiary of the Agency (within the meaning of section 49B of the National Treasury Management Agency (Amendment) Act 2014), (g) a member of the Board of the National Asset Management Agency, (h) a member of any committee established by the Board of the National Asset Management Agency, or (i) an officer of the National Asset Management Agency. (2) Where the Agency is satisfied that a person to whom this section applies has discharged the person’s duties or functions in relation to functions of the Agency, the National Pensions Reserve Fund Commission, the Board of the National Development Finance Agency or the National Asset Management Agency, as the case may be, in good faith, the Agency shall indemnify the person against any actions or claims, however they arise, in relation to the discharge by that person of those duties or functions. (3) The Agency shall not be prevented from revoking an indemnity granted to, or recovering any payment made pursuant to such an indemnity from, a person who is subsequently found to have performed his or her duties or functions in bad faith. (4) Without prejudice to section 15(3) of the National Treasury Management Agency (Miscellaneous Provisions) Act 2026 (in this subsection referred to as the ‘Act of 2026’), nothing in this section shall require the Agency to indemnify a person under subsection (2) in respect of an action or claim where the person has been granted an indemnity to which section 15(2) of the Act of 2026 applies in respect of, or arising from, the same action or claim.”. | ||
| 4. | Central Bank Act 1997 (No. 8 of 1997) | Section 28(1) | In the definition of “credit servicing firm”, by the substitution of the following paragraph for paragraph (a): “(a) a person (other than the National Treasury Management Agency or a subsidiary of the National Treasury Management Agency (construed in accordance with the definition of ‘subsidiary of the Agency’ in section 49B of the National Treasury Management Agency (Amendment) Act 2014) when it is performing functions under Part 6A of the National Treasury Management Agency (Amendment) Act 2014) who undertakes credit servicing other than on behalf of a regulated credit entity,”. |
| Section 29(5) | By the substitution of the following paragraph for paragraph (a): “(a) the National Treasury Management Agency or a subsidiary of the National Treasury Management Agency (construed in accordance with the definition of ‘subsidiary of the Agency’ in section 49B of the National Treasury Management Agency (Amendment) Act 2014) when it is performing functions under Part 6A of the National Treasury Management Agency (Amendment) Act 2014 shall not be treated as carrying on a regulated business as a credit servicing firm,”. | ||
| 5. | Taxes Consolidation Act 1997 (No. 39 of 1997) | Section 172A(1)(a) | In the definition of “relevant distribution”, in subparagraph (i)— (a) in clause (IIIA), by the substitution of “any such subsidiary, and” for “any such subsidiary,”, and (b) by the deletion of clause (IV). |
| Section 246 | In subsection (3)— (a) by the deletion of paragraphs (ea) and (eb), and (b) in paragraph (ec)— (i) in subparagraph (i), by the substitution of “National Treasury Management Agency, or a company that is a wholly-owned subsidiary of the National Treasury Management Agency,” for “National Treasury Management Agency,”, and (ii) in subparagraph (ii), by the substitution of “National Treasury Management Agency, or a company that is a wholly-owned subsidiary of the National Treasury Management Agency,” for “National Treasury Management Agency,”. | ||
| Section 256(1) | In the definition of “relevant deposit”, in paragraph (a), by the deletion of subparagraphs (iiid) and (iiie). | ||
| Section 490(3) | In paragraph (a)(ii)(II), by the deletion of “unless such control is exercised by the National Asset Management Agency, or by a company referred to in section 616(1)(g),”. | ||
| Section 530 | In subsection (1)— (a) by the deletion of “ “NAMA” and “NAMA group entity” have the same meanings, respectively, as they have in the National Asset Management Agency Act 2009”, and (b) in the definition of “relevant contract”, by the deletion of “, or a contract between NAMA and a NAMA group entity or a contract between a NAMA group entity and another NAMA group entity”. | ||
| Section 600F(2) | In paragraph (a)(iv)(II), by the deletion of “unless such control is exercised by the National Asset Management Agency, or by a company referred to in section 616(1)(g),”. | ||
| Section 616(1) | By the deletion of paragraph (g). | ||
| Section 623 | In subsection (2), by the substitution of “This section applies” for “Subject to subsection (2A), this section applies”. By the deletion of subsection (2A). | ||
| Section 644AB(1) | In the definition of “qualifying land”— (a) in paragraph (a), by the substitution of “its intention to exercise those powers, or” for “its intention to exercise those powers,”, and (b) by the deletion of paragraph (b). | ||
| Section 649B | In subsection (4)— (a) in paragraph (a), by the substitution of “its intention to exercise those powers, or” for “its intention to exercise those powers,”, and (b) by the deletion of paragraph (b). | ||
| Section 730D | In subsection (2)(b), by the deletion of paragraph (vii). | ||
| Section 730E | In subsection (3)(e), by the deletion of paragraph (vii). | ||
| Section 739D | In subsection (6), by the deletion of paragraph (ka). | ||
| Section 980 | By the deletion of subsections (12) to (15). | ||
| Schedule 13 | By the deletion of paragraph 174. | ||
| Schedule 15, Part 1 | By the deletion of paragraph 43. | ||
| 6. | Stamp Duties Consolidation Act 1999 (No. 31 of 1999) | New section | By the insertion of the following section after section 108D: “Irish Bank Resolution Corporation Limited and National Treasury Management Agency 108E. (1) In this section— ‘Act of 2013’ means the Irish Bank Resolution Corporation Act 2013; ‘IBRC’ means Irish Bank Resolution Corporation Limited; ‘residual matter’ has the same meaning as it has in section 11A of the Act of 2013; ‘subsidiary of the National Treasury Management Agency’ shall be construed in accordance with the definition of ‘subsidiary of the Agency’ in section 49B of the National Treasury Management Agency (Amendment) Act 2014; ‘transfer agreement’ has the same meaning as it has in section 1 of the Act of 2013. (2) Stamp duty shall not be chargeable under or by reference to any Heading in Schedule 1 on any instrument for the transfer or other disposition of any residual matter by IBRC, any subsidiary of IBRC (within the meaning of section 1 of the Act of 2013) or the special liquidator (within the meaning of section 7 of the Act of 2013) to the National Treasury Management Agency (or any subsidiary of the National Treasury Management Agency) pursuant to a transfer agreement.”. |
| 7. | Value-Added Tax Consolidation Act 2010 (No. 31 of 2010) | Section 59(2) | In paragraph (j), by the substitution of “by virtue of section 94(6)(a) or (7)” for “by virtue of section 16(1), 94(6)(a) or (7)”. |
| Section 64 | In subsection (12A)— (a) in paragraph (b)(ii), by the deletion of “or under section 147 of the National Asset Management Agency Act 2009”, and (b) in paragraph (ba)(ii), by the deletion of “or under section 147 of the National Asset Management Agency Act 2009”. | ||
| Section 94 | In subsection (2), by the substitution of “subsections (3), (5) and (8)” for “subsections (3), (5), (8) and (9)”. In subsection (5), by the substitution of “Where a taxable person” for “Subject to subsection (9), where a taxable person”. In subsection (8), by the deletion of paragraphs (a) and (d). By the deletion of subsection (9). | ||
| 8. | Credit Reporting Act 2013 (No. 45 of 2013) | Section 2(1) | In the definition of “credit information provider”, by the substitution of the following paragraph for paragraph (b): “(b) the National Treasury Management Agency in performing its functions under Part 6A of the National Treasury Management Agency (Amendment) Act 2014,”. |
| Section 27 | In subsection (4), by the substitution of the following paragraph for paragraph (b): “(b) the National Treasury Management Agency in performing its functions under Part 6A of the National Treasury Management Agency (Amendment) Act 2014,”. By the deletion of subsections (6) and (7). | ||
| 9. | Home Building Finance Ireland Act 2018 (No. 28 of 2018) | Section 22 | In subsection (3)(d), by the deletion of “or NAMA”. |
SCHEDULE 3 Amendment of Statutory Instruments
Section 4(4)
| Reference Number (1) | Citation, number and year (2) | Provision affected (3) | Extent of Amendment (4) |
| 1. | Ethics in Public Office (Prescribed Public Bodies, Designated Directorships of Public Bodies and Designated Positions in Public Bodies) Regulations 2004 (S.I. No. 699 of 2004) | Schedule | By the deletion of reference numbers 222, 223 and 224. In column (4), opposite the entry in column (1) of reference number 255, by the deletion of the following: “National Asset Management Agency (NAMA) Chief Executive Officer All employees assigned to the National Asset Management Agency under section 42 of the National Asset Management Agency Act 2009 (No. 34 of 2009)”. In column (4), opposite the entry in column (1) of reference number 255, by the insertion of the following: “All employees assigned to perform functions for the purposes of Part 6A of the National Treasury Management Agency (Amendment) Act 2014.”. |
Footnotes
1
OJ No. L 119, 4.5.2016, p.1
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