Michael Noonan (Limerick City, Fine Gael)

Section 9 provides the saving mechanism and to ensure that any liquidations or administrations commenced before this Act comes into effect will continue to be subject to the old rules. This is a standard convention that a company under administration is protected under the rules that applied when the company went into administration. The effect of this is to ensure that QIL, Quinn Insurance Limited, remains under the administration, as if this Bill had not been introduced.

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