Seanad debates
Thursday, 16 December 2010
Credit Institutions (Stabilisation) Bill 2010: Committee and Remaining Stages
3:00 pm
Ivor Callely (Independent)
In the light of what has been asked, I understand that when the special manager is appointed, he takes over the management of the relevant institution. Once appointed, the functions of the directors of that institution become somewhat restricted. Considering section 20, with some of the other sections, particularly sections 22, 23 and 24, I understand the special manager will determine the role of the directors. Will the Minister clarify that? What role do the directors have? Will all functions be invested in the special manager?
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