Catherine Murphy (Kildare North, Social Democrats)
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105. To ask the Minister for Finance if former and serving National Asset Management Agency employees and officials are precluded from taking up new employment (details supplied); the period of time they are precluded from taking up new employment; the other conditions attached with taking up new employment in any sector; and if he will make a statement on the matter. [28859/16]

Michael Noonan (Limerick City, Fine Gael)
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NAMA staff are employees of the NTMA as Section 42 of the National Asset Management Agency Act, 2009 provides that the NTMA shall assign staff to NAMA. I am advised by NAMA that, other than a small number of staff re-assigned from other functions within the NTMA, NAMA staff are employed on the basis of specified purpose contracts i.e. their employment lasts for as long as NAMA requires their particular function.

I am further advised that, since inception, staff assigned to NAMA have a 3 month notice period provision in their contracts.  Following a review of NTMA notice periods and post termination restrictions of employment, a provision prohibiting certain activities in an employee's subsequent employment for a defined period of time has also been introduced on a case by case basis.

In addition, I would draw the Deputy's attention the NAMA Board's voluntary policy which sets out that non-executive NAMA Board members should not, within three months of retiring /resigning from the Board:

- accept an offer of employment or other appointment,

- accept an engagement in a particular consultancy project,

or

- accept a directorship or other similar opportunity,

where the nature and terms of such employment, appointment or engagement could reasonably be considered to lead to a conflict of interest or the perception of such, without first obtaining the approval from the Board of NAMA.

The Deputy will also be aware of Section 202 provisions in the NAMA Act, which are lifelong provisions with respect to confidentiality for all current and former staff assigned to NAMA and to members of the NAMA Board.

I have also been advised that all NAMA officers are provided with a copy of the "Code of Practice Conduct of Officers of NAMA" when they are assigned to NAMA and they are required to sign an undertaking that they have read, understood and will comply with it. This document, which is published on the NAMA website, sets out in detail the obligations of officers of NAMA with respect to confidentiality and conflicts of interest including statutory obligations regarding confidentiality and use of information including their obligation under the Official Secrets Act 1963. The document is reviewed annually by the Board of NAMA and circulated annually to officers of NAMA, who are required to sign an undertaking on each occasion that they have read, understood and will comply with it.

In addition, those officers of NAMA who are holders of designated positions of employment under the Ethics in Public Office Act 1995 as amended by the Standards in Public Office Act 2001 ("the Ethics Acts") are notified in January each year of their obligations under the Ethics Acts.

NAMA requires its entire staff to complete a disclosure under Section 42 of the NAMA Act outlining all assets, liabilities and interests which they hold. Each employee is also required to inform the CEO of NAMA of any changes to their disclosure and to immediately inform the CEO of any matter that could raise a question about their suitability to act (or continue to act) as an officer of NAMA or that could result in an actual or potential conflict of interest with respect to their duties or obligations as an officer of NAMA.