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34 2009

National Asset Management Agency Act 2009

Chapter 4

NAMA’s Relationship with NTMA

NTMA to provide resources to NAMA.

41 .— (1) The NTMA shall provide NAMA with such business and support services and systems as the Board determines, acting upon the recommendation of the Chief Executive Officer of NAMA and after consultation with the Chief Executive of the NTMA, to be necessary or expedient for NAMA to perform its functions under this Act.

(2) Where the NTMA is unable for any reason to provide business and support services or systems referred to in subsection (1), the NTMA, as agent of NAMA, may procure such services or systems as are necessary.

NTMA to provide staff to NAMA.

42 .— (1) The NTMA shall assign so many of its staff to NAMA as the Board determines, upon the recommendation of the Chief Executive Officer of NAMA, after consultation with the Chief Executive of the NTMA, to be necessary for the performance by NAMA of its functions under this Act.

(2) Before employing or otherwise engaging a person to be assigned to NAMA under subsection (1), the NTMA shall ascertain to its satisfaction that the person—

(a) is of good character and has not been convicted of any offence likely to render him or her unfit or unsuitable to perform the duties that the person is required to undertake or is likely to be required to undertake,

(b) has not been disqualified or restricted from acting as a director under the Companies Acts, and

(c) has no material conflict of interest, whether actual or potential.

(3) Before the NTMA assigns a member of its staff to NAMA under subsection (1), the NTMA shall ensure that he or she provides a statement of his or her interests, assets and liabilities to the Chief Executive Officer of NAMA and the Chief Executive of the NTMA in a form that the NTMA specifies.

(4) NAMA shall reimburse the NTMA for the costs incurred by the NTMA in consequence of its assigning staff to NAMA under this section.

Suspension of officers of NAMA.

43 .— The Chief Executive Officer of NAMA, after consultation with the Chief Executive of the NTMA, may suspend, on such terms and conditions as he or she thinks fit, an officer of NAMA from his or her duties as such an officer if—

(a) the officer has been convicted at any time of—

(i) an offence of theft, fraud or dishonesty, or

(ii) any other offence that the Chief Executive Officer considers likely to render him or her unfit or unsuitable to perform his or her duties,

(b) the officer is restricted or disqualified from acting as a director under the Companies Acts,

(c) the officer—

(i) is not adequately performing his or her functions, whether because of incapacity through illness or injury or otherwise, or

(ii) has committed misconduct in relation to his or her duties as an officer of NAMA,

(d) in the Chief Executive Officer’s opinion, a material conflict of interest in relation to his or her duties as an officer of NAMA has arisen in relation to the officer, or

(e) the officer’s suspension appears to the Chief Executive Officer to be necessary or expedient for the effective performance by NAMA of its functions.