Gerry Adams (Louth, Sinn Fein)
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Question 78: To ask the Minister for Finance the companies that provide valuations of property for the National Assets Management Agency; if any of the directors of these companies are employees of NAMA; the names of these persons and the position they hold in NAMA; his views that a conflict of interest arises in this situation; and if he will make a statement on the matter. [10261/12]

Michael Noonan (Limerick City, Fine Gael)
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The providers of property valuation services to NAMA are listed on the Agency's website at www.nama.ie. NAMA informs me that it has recruited its staff largely from the banking, financial and property sectors nationally and internationally and that many of them will have been employed, at some stage in their careers, by one or more of the companies and firms that operate in those sectors.

NAMA assures me that it takes all necessary steps to ensure that conflicts of interest do not occur. Under Section 42 of the NAMA Act, before he or she is assigned to NAMA, each officer is required to provide a statement of his or her interests, assets and liabilities. When procuring services, the Agency ensures that potential conflicts of interest are managed effectively and that staff do not participate in decisions which may involve the allocation of work to companies for which they worked previously.

The Agency also advises that NAMA staff are precluded from being directors of commercial entities.