National Asset Management Agency Act 2009

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Duty of confidentiality, etc., not contravened by provision of information to, or production of documents and books for inspection by, potential purchasers.

199.— (1) The disclosure of information or a book, document or record in relation to a bank asset by NAMA or a NAMA group entity to a potential purchaser or to such a purchaser’s agent or adviser does not contravene any duty of confidentiality to which NAMA or the NAMA group entity would otherwise be subject.

(2) The production of any book, document or record under subsection (1) that NAMA or a NAMA group entity could not have been compelled to produce to any court on the grounds of legal professional privilege does not constitute a waiver of that privilege.

(3) NAMA or a NAMA group entity may disclose confidential information to a participating institution, but only if to do so is necessary for the identification of bank assets, for the purposes of NAMA’s making a decision whether or not to acquire bank assets, or for the proper management of acquired bank assets.