Oireachtas Joint and Select Committees

Thursday, 14 December 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Paradise Papers (Resumed): Allied Irish Banks

9:30 am

Ms Helen Dooley:

Yes, because of the Irish legislation. Under the asset covered securities legislation, that type of funding requires banks to set up a separate company. As I understand it, the Legislature is considering removing that requirement, which would help us to simplify the structure as we could get rid of those vehicles.