Written answers

Tuesday, 30 April 2013

Department of Finance

Central Bank of Ireland Issues

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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201. To ask the Minister for Finance the constraints that apply to employees of the Central Bank of Ireland in the context of resigning and moving to a private sector organisation where confidential or privileged information acquired at the Central Bank of Ireland may be deployed to the benefit of that private sector organisation. [20285/13]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I am informed by the Central Bank that it has relevant policies and procedures in place to deal with this potential matter and that its current policies and procedures are appropriate. Specifically, this potential issue is taken into account when drafting new contracts for certain roles or reassigning staff to other duties if a potential for conflict arises.

The Central Bank Code of Ethics requires that in the event of an employee intending to leave the employment of the Central Bank to take up alternative employment, self-employment or business, they are obliged to provide early notification to line management when a conflict of interest exists, or might be perceived to exist, between those duties held in the Central Bank and those to be undertaken with the new employer, self-employment or business. In such circumstances, the Central Bank may assign alternative tasks to the individual while their notice period is being served. The notice period may be lengthened in excess of the contractual or statutory notice period, by mutual agreement, where it is felt that this is in the best interests of the Central Bank and the employee.

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