Seanad debates

Thursday, 16 December 2010

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

 

3:00 pm

Photo of Paschal DonohoePaschal Donohoe (Fine Gael)

My question concerns section 22(2). On receivership, enforcement and claims against the financial institution, the Bill states: "Paragraphs (f), (g) and (h) of subsection (1) do not apply to the Bank, the European Central Bank or any other national central bank within the Eurosystem." If it is necessary to say this section does not apply to other banks within the euro system, why is it not necessary to say this about the entire Bill? I am sure there is something at the start of the Bill to say this covers only institutions threatening the financial stability of the Irish system. Why is it necessary to have this reference in section 22 but not in other sections?

Comments

No comments

Log in or join to post a public comment.