Brian Cowen (Laois-Offaly, Fianna Fail)

Under section 6(5) of the Credit Institutions Financial Support Act 2006 we will introduce a statutory instrument to that effect for the future. The current time restriction of September 2010 has to be lifted from the Statute Book to allow us to apply for the five year loan security money in a way that we cannot do now. Legally we can provide a loan guarantee only until September 2010. This amendment to the legislation provides us with the means of ensuring that we compete on a level playing pitch with other financial institutions.

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