Seanad debates

Thursday, 16 December 2010

Credit Institutions (Stabilisation) Bill 2010: Second Stage

 

The Bill provides for the amendment of a number of other enactments. The building societies legislation is amended to facilitate the conversion of building societies into private limited companies. Section 72 amends the Central Bank Act 1942 to allow the Central Bank to share confidential information to facilitate the Central Bank, the Minister, the Governor, the head of financial regulation or a special manager. The amendment of the Central Bank Act 1971, under section 73 of this Bill, is proposed to facilitate a more expeditious transfer of a banking licence holder's business, including assets and liabilities not directly associated with its banking business.

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