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

292. To ask the Minister for Finance if the legislation for the unwinding of NAMA guarantees salaries and benefits will be maintained for all staff moving from NAMA to the NTMA; and if he will make a statement on the matter. [23138/25]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context

Drafting is at an advanced stage of development in respect of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill 2024 (“the Bill”), which when enacted, will facilitate the orderly conclusion of the Special Liquidation of the IBRC, and the dissolution of NAMA by the end of 2025 in accordance with NAMA’s 2021 Strategic Plan. The Bill will also provide for a resolution unit to be established within the NTMA to manage any remaining NAMA and IBRC in SL residual activity from 2026 until completion.

Officials are working intensively with the OPC to draft this Bill at present, in consultation with the NTMA, the IBRC special liquidators and NAMA, which will be published and brought before the Oireachtas in due course.

The general scheme of the Bill was published in July 2024 and contained standard statutory provisions modelled on other similar legislation, to ensure that when the operations of one State entity are transferred to another, the employment rights of staff are preserved. This was included in the general scheme in case it was required to apply to the transfer of a small number of staff from NAMA to a resolution unit established to manage any residual activity following the dissolution of NAMA.

It was noted in the published general scheme that discussions were ongoing to determine whether this standard provision would be required in the context of the establishment of a resolution unit in the NTMA. While it is envisaged that the unit will be staffed by a small number of people, no final arrangements have yet been made by the NTMA with regard to the staffing of the resolution unit, which will form part of the overall corporate structure of the Agency. The staffing requirement will largely depend on the residual activity remaining at the time of transfer however it is not envisaged that the resolution unit will require a CEO.

In relation to staffing matters, the Deputy can be advised that all NAMA staff are employed by the NTMA and assigned to NAMA under Section 42 of the NAMA Act of 2009.