Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The notice period for NTMA employees assigned to NAMA is typically three months. NTMA contracts for employees assigned to NAMA have a provision entitling NTMA to place the employee on garden leave at any point during the notice period during which time the employee may not work for another employer. Following a review of its policy in respect of notice periods and post-termination restrictions on employment, which was conducted on NTMA’s behalf by the law firm Matheson, NTMA is implementing a number of changes to its employment contracts, including the introduction of longer notice periods of three to six months, up from one to three months, for middle and senior management employees and garden leave provisions to be included in all new employment contracts.

In addition, a new provision is being added in new employment contracts, where relevant, that restricts departing staff from performing services for a new employer during the first six months following the termination of their employment with NTMA, relating to a transaction or other matter in respect of which they participated directly or substantially in the course of their employment with NTMA and were in possession of confidential information as a result. In respect of NTMA employees assigned to NAMA, this provision has been introduced for all new employees and existing employees as they are promoted. As I pointed out, the three-month notice period and garden leave provisions already apply to NTMA staff assigned to NAMA.

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