Seanad debates

Thursday, 16 December 2010

Credit Institutions (Stabilisation) Bill 2010: Committee and Remaining Stages

 

3:00 pm

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)

The provision relates to the variation of an initial or primary order. If there is a technical flaw in the order which requires urgent amendment, the Minister may apply to the court ex parte and without notice. The purpose of the section is to allow the Minister to apply to the court to alter a direction order if he or she is satisfied that the alteration is necessary to achieve the purposes of the Bill. It is to be expected that in an urgent application for a direction order matters may arise at a later time which require to be addressed. While the Minister will apply ex parte, the court may take the view, on hearing the matter, that a party should be put on notice. Therefore, the fact that the Minister may apply ex parte does not prevent the court from deciding that a party should be put on notice of the Minister's application.

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