There is no requirement for any IBRC employee to obtain permission from my Department to take up any offer of employment with investment firms or with individuals/companies who have substantial loans with the IBRC. However, I am advised by the Special Liquidators that there is a clause in all employment contracts of employees of IBRC that prevents them from disclosing or using any confidential information gained in the course of their employment with IBRC. I am advised by the Special Liquidators that they are unaware of any IBRC employees joining such organisations.
In addition, Ethics in Public Office Acts apply to current and former executives and other office holders in the IBRC where the salary earned by those employees is not less than the maximum salary of a higher executive officer (general service grade, Class B PRSI) in the Civil Service (c.€55,415). Codes of Conduct issued under these Acts require that former office holders should act in a way which ensures an unfair advantage would not be conferred in a new appointment, by virtue of for example, access to official information the office holder previously enjoyed.