National Asset Management Agency Act 2009

45.

Professional standards and audit.

45.— In contracts for the provision of services to NAMA by expert advisers and service providers, NAMA shall seek to ensure that each expert adviser or service provider—

( a) operates to the highest standards of honesty and fairness and with due skill, care, prudence and diligence in conducting its business activities under the mandate given to it so as to promote the best interests of NAMA,

( b) effectively employs the resources and procedures that are necessary for the proper performance of such business activities,

( c) makes every effort to avoid or manage conflicts of interest and to declare any such conflict (actual or potential) to NAMA,

( d) complies with any regulatory regime to which it is subject,

( e) permits NAMA to engage auditors to carry out an audit of the books, accounts and other financial statements of the expert adviser or service provider so far as they relate to the services performed for NAMA, and

( f) is obliged to co-operate fully in such audits.