Oireachtas Joint and Select Committees

Wednesday, 24 April 2013

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance

Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage

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8:40 pm

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I move amendment No. 135:

In page 51, before line 1, to insert to insert the following new Part:

"Section 5(3).

PART 6Amendment of European Communities (Reorganisation and Winding-up of Credit Institutions) Regulations 2011(S.I. No. 48 of 2011)

Item
(1)
Provision affected
(2)
Amendment
(3)
1Regulation 2(2)Insert the following subparagraph after subparagraph (x):

“(xi) a direction given by the Bank under Part 5 of the Central Bank (Supervision and Enforcement) Act 2013 that contains a declaration that it or part of it is made with the intention of preserving or restoring the financial position of a credit institution, where the direction is capable of affecting the rights of third parties existing before the direction comes into effect.”.

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