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IRISH BANK RESOLUTION CORPORATION BILL 2013

IRISH BANK RESOLUTION CORPORATION BILL 2013

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Published by Mark Malone
This is the bill that the government will try and force through,
This is the bill that the government will try and force through,

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Categories:Types, Business/Law
Published by: Mark Malone on Feb 06, 2013
Copyright:Attribution Non-commercial

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07/10/2013

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______________________
AN BILLE FÁ CHORPARÁID NA HÉIREANNACH UM RÉITEACH BAINC, 2013IRISH BANK RESOLUTION CORPORATION BILL 2013
______________________
 Mar a tionscnaíodh As initiated 
_____________________ARRANGEMENT OF SECTIONS
Section
1.
 
Interpretation.
 2.
 
Expenses of Minister.
 3.
 
Purposes of Act.
 4.
 
Special Liquidation Order.
 5.
 
Publication of Special Liquidation Order.
 6.
 
Effect of Special Liquidation Order.
 7.
 
Special liquidator.
 8.
 
Limitation of power to grant injunctive relief.
 9.
 
Instructions and directions.
 10.
 
Application of Companies Acts to IBRC.
 11.
 
Non-application of Part 7 of Central Bank and Credit Institutions (Resolution) Act 2011 to IBRC.
 12.
 
Sales, transfers, securities, etc.
 13.
 
Minister‟s power of direction.
 14.
 
Determination of consideration for bank assets to be acquired by NAMA.
 15.
 
Amendment of Act of 2009.
 16.
 
IBRC to continue to be a participating institution.
 17.
 
Powers of Minister to create and issue securities, etc.
 18.
 
Netting agreements, etc.
 19.
 
Amendment of certain regulations for the purposes of their application to IBRC.
 20.
 
Disclosure of information.
 
 
1
21.
 
Amendment of Land and Conveyancing Law Reform Act 2009.
 22.
 
Amendment of Stamp Duties Consolidation Act 1999.
 23.
 
Amendment of Central Bank Act 1942.
 24.
 
Amendment of European Communities (Deposit Guarantee Schemes) Regulations 1995.
 25.
 
Short title.
 S
CHEDULE
 
M
ODIFICATIONS TO
C
OMPANIES
A
CTS
 PART 1
S
PECIFIC
M
ODIFICATIONS OF
C
ERTAIN
P
ROVISIONS OF
P
ART
VI
OF THE
A
CT OF
1963
IN THEIR APPLICATIONUNDER THIS
A
CT
 PART 2
S
PECIFIC
M
ODIFICATIONS OF
C
ERTAIN
P
ROVISIONS OF THE
A
CT OF
1990
IN THEIR APPLICATION UNDER THIS
A
CT
 __________________
A
CTS
R
EFERRED TO
 Asset Covered Securities Acts 2001 and 2007Central Bank Act 1942 1942, No. 22Central Bank and Credit Institutions (Resolution) Act 2011 2011, No. 27Companies (Auditing and Accounting) Act 2003 2003, No. 44Companies Act 1963 1963, No. 33Companies Act 1990 1990, No. 33Companies ActsFinance Act 1970 1970, No. 14Land and Conveyancing Law Reform Act 2009 2009, No. 27National Asset Management Agency Act 2009 2009, No. 34National Treasury Management Agency Act 1990 1990, No. 18Netting of Financial Contracts Act 1995 1995, No. 25Stamp Duties Consolidation Act 1999 1999, No. 31
 
2
______________________
AN BILLE FÁ CHORPARÁID NA HÉIREANNACH UM RÉITEACH BAINC, 2013IRISH BANK RESOLUTION CORPORATION BILL 2013
______________________
B I L L
entitled 
AN ACT TO PROVIDE FOR THE WINDING UP OF IBRC AND TO PROVIDE FORCONNECTED MATTERS.
 
WHEREAS IT IS NECESSARY, IN THE PUBLIC INTEREST, TO PROVIDE FOR THEORDERLY WINDING UP OF THE AFFAIRS OF IBRC TO HELP TO ADDRESSTHE CONTINUING SERIOUS DISTURBANCE IN THE ECONOMY OF THESTATE;AND WHEREAS VITAL ASSISTANCE HAS BEEN PROVIDED BY THE STATE TOMAINTAIN THE FUNCTIONING OF IBRC TO SUPPORT THE FINANCIALSTABILITY OF THE STATE;AND WHEREAS VITAL ASSISTANCE HAS BEEN PROVIDED BY THE CENTRALBANK OF IRELAND TO MAINTAIN THE FUNCTIONING OF IBRC TOSUPPORT THE STABILITY OF THE IRISH FINANCIAL SYSTEM;

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