Oireachtas Joint and Select Committees
Thursday, 16 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Paul Gallagher:
There's a power to revoke it in the guarantee scheme if, for example, the conditions of the guarantee weren't being complied with, otherwise it was intended to last for two years, subject to a review. And it was conditional on the basis which ... or, sorry, it was conditional on the circumstances which required the giving of the guarantee continued, and if they didn't continue, then the Minister was entitled to bring it to an end and would be required to do so by the EU.
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