Noel Dempsey (Meath, Fianna Fail)

Section 25 provides for the drafting of a code of conduct in respect of standards of integrity and concern for the public interest. That code must apply to directors, the CEO, employees, consultants and advisers engaged by NORA and the employees of those consultants and advisers. The code is additional to the requirements on NORA's directors under the Ethics in Public Office Act 1995, which provides for the disclosures of interests of holders of certain public offices, designated directors of certain public bodies and persons employed in designated positions therein.

The provision is specific. Persons occupying positions prescribed in the regulations are required to furnish statements of registerable interests or, if they have none, make nil return statements. The directors of NORA are prescribed as designated directorships under the Ethics in Public Office Act and must make annual returns under that Act. The manager, financial controller and operations manager must also make returns under the Act.

I am satisfied that the measure as drafted provides adequately for the protection of the public interest. I agree we must ensure that there are no conflicts of interest or if there are conflicts of interest, that they are stated clearly and registered, but we should not impose stricter requirements on NORA's directors than we do on the directors of other State or semi-State companies.

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