Michael Noonan (Limerick City, Fine Gael)
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I move amendment No. 49:

In page 26, between lines 11 and 12, to insert the following subsection:“(4) Where the Bank gives a direction under subsection (1) to a regulated financial service provider or a related undertaking (in this subsection referred to as the “principal provider”), the Bank may, where it considers it necessary for the purpose of securing compliance with that direction, give a direction in writing to any regulated financial service provider at which the principal provider holds an account of any description to cease making payments from, or entering into or performing other transactions in respect of, such account without the prior authorisation of the Bank.”.

These amendments set out a range of technical provisions related to directions and appeals.