I am informed that NAMA, as a contracting authority, is subject to EU Directive 2004/18/EC as implemented in Ireland by the European Communities (Award of Public Authorities' Contracts) Regulations 2006 (the "Regulations"), in respect of the procurement of goods, works and services above certain values (the "EU Thresholds"). The principles underpinning the Regulations are equal treatment, non-discrimination, mutual recognition, proportionality and transparency. The results of NAMA's tenders are detailed on its website, www.nama.ie. Where the Regulations do not apply — either because the value of the procurement is below the EU Thresholds or falls outside of the Regulations — NAMA adopts a competitive process designed to obtain the best value for money that can be achieved in a manner that is both fair and transparent.
In light of this advice, therefore, I am satisfied that the Agency complies fully with normal Government procurement rules in its procurement of goods and services.