Anglo Irish Bank Corporation Bill 2009
Public bill · Government · Presented
Gives the Minister for Finance complete ownership of Anglo Irish Bank, allowing the State to replace directors, managers and other officials, appoint new people, and direct the bank where necessary to protect financial stability. It removes or overrides some normal company, takeover and banking rules, stops certain contracts from being triggered by the takeover, and allows continued State funding and the bank’s de-listing. An independent assessor must decide whether former shareholders and holders of cancelled share rights should receive compensation, based on the bank’s true financial position in January 2009; decisions can be appealed.
Formal long title
Bill entitled an Act to provide, in the public interest, for maintaining the stability of the financial system in the State, and for that purpose—(a) to provide for the transfer to the Minister for Finance or the Minister's nominee of all the shares in Anglo Irish Bank Corporation Public Limited Company,(b) to extinguish certain rights in Anglo Irish Bank, (c) to disapply certain provisions of the Companies Acts and other enactments in so far as they relate to Anglo Irish Bank,(d) to provide for the removal of persons from certain offices, positions or employment with Anglo Irish Bank and the appointment of persons to those offices or positions or that employment,(e) to provide for the appointment of an Assessor to assess whether compensation should be paid to persons whose shares were transferred to the Minister for Finance or whose rights were extinguished, and if so to determine the fair and reasonable amount payable as such compensation,(f) to provide for the payment of any such compensation, (g) to make consequential amendments to certain other enactments, and (h) to provide for connected matters
Last updated 12 April 2018
- Minister for Finance Primary
- First StageDáil
- Second StageDáil
- Committee StageDáil
- Report StageDáil
- Fifth StageDáil
- Second StageSeanad
- Committee StageSeanad
- Report StageSeanad
- Fifth StageSeanad Enacted
- EnactedEnacted
- Anglo Irish Bank Corporation Bill 2009: Order for Second Stage. Dáil
- Anglo Irish Bank Corporation Bill 2009: Second Stage. Dáil
- Anglo Irish Bank Corporation Bill 2009: Committee and Remaining Stages. Dáil
- Anglo Irish Bank Corporation Bill 2009: Second Stage. Seanad
- Anglo Irish Bank Corporation Bill 2009: Committee and Remaining Stages. Seanad
- Anglo Irish Bank Corporation Bill 2009: Earlier Signature Motion. Seanad