16.— (1) Until 1 July 2013 or such later date as may be fixed by the Minister by order, the Act of 2009 shall continue to apply to IBRC as if IBRC were a participating institution within the meaning of that Act.

(2) NAMA shall have the power to employ staff in the NAMA group entity which is to acquire assets pursuant to a direction given under section 13(1)(a).

(3) An order made by the Minister under subsection (1) shall be laid before each House of the Oireachtas as soon as may be after it is made and, if a resolution annulling the order is passed by either such House within the next 21 days on which that House has sat after the order is laid before it, the order shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.