National Asset Management Agency Act 2009

129.

Participating institutions to act in utmost good faith.

129.— (1) A participating institution shall act in utmost good faith at all times in its dealings with the Minister, NAMA, NAMA group entities, their agents, the expert reviewer and the valuation panel pursuant to this Act.

(2) A participating institution shall inform the Minister, NAMA and any NAMA group entity concerned of any fact or thing that may impede—

( a) the achievement of the purposes of this Act,

( b) the performance by the Minister of his or her functions, or NAMA of its functions, under this Act, or

( c) the fulfilment by the participating institution of its obligations under this Act.

(3) If a participating institution identifies such an impediment the participating institution shall take all reasonable steps to address the impediment in a manner that best furthers the achievement of the purposes of the Act.