Brian Hayes (Dublin South West, Fine Gael) | Oireachtas source

Amendment No. 140 is a technical amendment which improves the consistency of terminology in this Part of the Bill by removing the references to "restructuring purposes" and replacing them with "the purposes of restructuring under this Part". Amendment No. 141 removes the obligation on the Minister to obtain the bank's approval of an amalgamation or transfer of engagement under section 131(6)(a) of the 1997 Act before providing financial support for the purposes of restructuring. This amendment sets out that the provision of such support may be conditional on the bank giving its approval under this section rather than requiring that approval before the support is provided. This will permit the bank to consider the conditions proposed to be attached by the Minister to the provision of support and the bank can decide accordingly whether to grant approval.

Amendment No. 143 is a technical amendment which updates the cross references to other sections of the Bill dealing with the provisions of restructuring and stabilisation support. Amendment No. 144 clarifies that the support referred to in section 58(7) is stabilisation support. Amendment No. 145 clarifies that the conditions referred to in section 58(4) are those attached by the Minister under section 58(6) to the provision of stabilisation support.

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