Alex White (Dublin South, Labour) | Oireachtas source

The Senator has raised the matter of referring to the Garda national bureau of criminal investigation the fact that an ex-employee of NAMA has now taken up employment with a private sector entity with which NAMA has previously engaged in a business transaction. It is unclear on what basis the Senator believes that this is a matter that the Minister for Finance should refer to the bureau. The remit of the national bureau of criminal investigation includes the investigation of crimes such as murder, serious and organised crime and other serious assaults. Accordingly I am unclear as to what role there may be for the Minister to refer this matter to the bureau in this instance. If the Senator has information which suggests that wrongdoing has occurred, I know she will bring it to the immediate attention of the Garda Síochána.

In the response by the Minister for Finance to a similar Adjournment debate topic proposed by Senator Higgins two weeks ago, the Minister pointed out that the National Treasury Management Agency, NTMA, model, which applies to staff assigned to NAMA, is based on the free movement of staff from the private sector to NTMA and vice versa. It is important that the NTMA's ability to attract private sector employees is not in any way disrupted. Mobility with the private sector is a critical component of the NTMA model and if it is to be successful we have to accept that it can be a two-way street.

The key issue relates to the safeguards in place to protect the confidentiality of information held by NTMA employees, including those assigned to NAMA, who may leave the agency to take up employment in the private sector. The Minister's response of 11 June referred specifically to the statutory prohibitions on the release of confidential information by employees and former employees of the NTMA, including those assigned to NAMA. Employees assigned to NAMA by the NTMA, as is the case with all other NTMA staff, are subject to section 14 of the National Treasury Management Agency Act 1990, which prohibits an employee from disclosing any information obtained while carrying out duties as employees of the NTMA. Employees assigned to NAMA are also subject to a prohibition on release of confidential data under sections 99 and 202 of the NAMA Act 2009. NTMA employees, including those assigned to NAMA, are subject to the Official Secrets Act. Contravention of these prohibitions is a criminal offence, and these protections do not cease at the point of resignation but rather apply indefinitely and extend to former employees.

The Minister for Finance advised the House on 11 June that the notice period for NTMA employees assigned to NAMA is typically three months and that, in line with employers in the private sector, NTMA contracts for employees assigned to NAMA have a provision entitling the 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. Arising from a review conducted by Matheson for the NTMA, the Minister advised that the 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 NTMA management employees and garden leave provisions to be included in all employment contracts. These changes will be introduced immediately for new NTMA employees and for existing NTMA employees as they are promoted. As pointed out, the three-month notice period and garden leave provisions already apply to NTMA staff assigned to NAMA.

In addition, the Minister advised that additional post-termination restrictions on employment will be considered on a case-by-case basis in respect of senior NTMA management employees in particular. However, the imposition of such restrictions will need to be carefully balanced against the NTMA's need to recruit good candidates for whom such restrictions may act as a significant disincentive to taking up employment with the NTMA. The Minister or Finance also noted that because of its finite life staff assigned to NAMA are recruited on specified purpose contracts, and their period of employment lasts for as long as their function is required by NAMA. Unlike other public sector employees, their contracts do not extend to the normal retirement age and there is clearly a risk that if specialist staff are offered specified-purpose contracts with rigorous clauses limiting their freedom to return to their sector of expertise afterwards so as to earn a living, it would become very difficult to recruit staff.

The Senator's matter implies that some form of wrongdoing may have occurred in this instance but the Minister for Finance is not aware of any such wrongdoing. Unless there is evidence to substantiate such a claim, it is deeply unfair to persons outside of this House, who do not enjoy parliamentary privilege, to have their name questioned in this manner. I reiterate therefore that if the Senator has evidence to suggest wrongdoing, she should bring it to the immediate attention of the Garda Síochána.