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Enacted Dáil
No. 1 of 2009

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

Sponsor
  • Minister for Finance Primary
Progress
  • First Stage
    Dáil
  • Second Stage
    Dáil
  • Committee Stage
    Dáil
  • Report Stage
    Dáil
  • Fifth Stage
    Dáil
  • Second Stage
    Seanad
  • Committee Stage
    Seanad
  • Report Stage
    Seanad
  • Fifth Stage
    Seanad Enacted
  • Enacted
    Enacted
Debates
  • 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

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