Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

On the question regarding the financial instrument, if it was issued before that date and unchanged, it would be exempt. After that date, if the terms are changed in any way, it would then be subject to this new rule.

On perpetual bonds, they do not fall into this legacy exemption. As milestones for drawdown must be included in the terms of the bond, they do not fall into this exemption.

The Deputy asked for a working example of a worldwide group. I will ask my officials to put together an example and have it circulated to the Deputy in advance of further deliberations on Committee Stage of the Bill.