Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I move amendment No. 52:

In page 26, between lines 20 and 21, to insert the following subsection:“(6) If the Bank gives a direction under subsection (1) or (4) the intention of which, or part of which, is the preservation or restoration of the financial position of a credit institution within the meaning of Directive 2001/24/EC of the European Parliament and of the Council of 4 April 20011 and which is capable of affecting the rights of third parties existing before the direction comes into effect, the Bank shall declare in the direction that the direction or part of it is made with that intention, in accordance with that Directive.”.