Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I thank Mr. Masding for answering that it will be tax free. This pisses a lot of people off. There are multi-billion euro investors and all of the profit made from this securitisation vehicle will be tax free. They are the ones who will benefit. We have a State-owned bank which is participating in this with the consent of the Minister. That is what is really annoying. It is in the prospectus and is a nice boast for bondholders that it will be tax free.

On acquisition and Permanent TSB holding 5% of the notes, does acquiring the notes mean that the bank will have to purchase them or do they come automatically as part of the sale?