Paschal Donohoe (Fine Gael)

I move amendment No. 1:

In page 13, paragraph (c), line 26, to delete "and restoration".

I wish to make a general point. The debate on the Bill is due to be guillotined at 4 p.m. and there are many points I wish to make about various sections. In reply to the debate on Second Stage the Minister of State, Deputy Mansergh, stated there were not many other examples of such legislation in other European countries. I have two papers, one prepared by the UK Treasury and the other by the IMF, which give examples of such legislation elsewhere and the difficulties encountered. These examples are driving the amendments we have proposed.

This amendment refers to section 4(c). I can understand the reason the Minister wants to include this section in looking to reorganise and even preserve the financial position of Anglo Irish Bank because its further deterioration would cause even more collateral damage to the country. However, I cannot understand how restoring the financial position of Anglo Irish Bank can be a purpose of the Bill, given the colossal damage the bank has done to the economy and the country.