Seanad debates
Thursday, 16 December 2010
Credit Institutions (Stabilisation) Bill 2010: Second Stage
Part 5 gives the Minister the power to make a proposed transfer order which would transfer all or any of the assets and liabilities of a relevant institution where the Minister believes it is necessary to achieve the purposes of the Bill. Section 38 provides for the provision by the Minister for Finance of financial incentives to a transferee but the Bill is clear that any such financial assistance is a debt due and owing to the State by the transferor. Part 6 addresses potential existing administrative and legal requirements whose effect might otherwise impact adversely on the achievement of the aims of the Bill.
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