Pearse Doherty (Donegal South West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

114. To ask the Minister for Finance if former or existing staff transferred to the National Assets Management Agency with Irish Bank Resolution Corporation are free to work with borrowers or has a cooling off period been imposed; if former or existing staff have to seek his Department's permission to take up roles with investment firms or with individuals/companies who have substantial loans with the IBRC. [23154/13]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

There is no requirement for any IBRC employee to obtain permission from my Department to take up any offer of employment with investment firms or with individuals/companies who have substantial loans with the IBRC. However, I am advised by the Special Liquidators that there is a clause in all employment contracts of employees of IBRC that prevents them from disclosing or using any confidential information gained in the course of their employment with IBRC. I am advised by the Special Liquidators that they are unaware of any IBRC employees joining such organisations.

In addition, Ethics in Public Office Acts apply to current and former executives and other office holders in the IBRC where the salary earned by those employees is not less than the maximum salary of a higher executive officer (general service grade, Class B PRSI) in the Civil Service (c.€55,415). Codes of Conduct issued under these Acts require that former office holders should act in a way which ensures an unfair advantage would not be conferred in a new appointment, by virtue of for example, access to official information the office holder previously enjoyed.