Kieran O'Donnell (Limerick East, Fine Gael)

Fine Gael has tabled a similar amendment. The purpose of this legislation is to put moneys from the National Pensions Reserve Fund into the two main banks — AIB and Bank of Ireland — but as the legislation currently stands, can the Minister put funds into the listed financial institutions, AIB and Bank of Ireland, and Irish Life & Permanent, without bringing it back before the House? We are tabling an amendment that anything in excess of the €7 billion allocated to the two main banks, AIB and Bank of Ireland, from the National Pensions Reserve Fund could be allocated only on the basis of a resolution of both Houses of the Oireachtas. Does this Bill entitle the Minister to put additional funds into the listed banks without bringing the matter before the House? I commend this amendment to the House.

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