Seanad debates
Thursday, 16 December 2010
Credit Institutions (Stabilisation) Bill 2010: Second Stage
I would especially draw Senators' attention to a key section - section 48 - which provides that the overriding duty of directors of relevant institutions will now be to the Minister for Finance, on behalf of the State, to have regard to certain purposes of this Bill. Prior to the enactment of this legislation, the primary duty of directors had been to the bank company. Part 7 contains a number of miscellaneous provisions.
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