Dáil debates

Wednesday, 17 June 2009

Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages

 

4:00 pm

Photo of Richard BrutonRichard Bruton (Dublin North Central, Fine Gael)

I understand this is a technical amendment. However, section 8 provides for the Central Fund repaying the Central Bank within three months while the deposit fund makes up to the Central Fund this amount. How will this unfold? Will it become a premium charge against all the institutions, other than the one that failed or caused the payment to be made? Would it be a recoupment from that institution when it got back on its feet? Will it be somewhat like the levy to make up NAMA? Will those who broke all the rules and, as a result, created the problem have to pay more than those who were prudent in running their businesses? Will every institution be treated equally or will the offending institution make good to the others over time?

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