Credit Institutions (Stabilisation) (Amendment) Bill 2012

Public bill · Private Member · Introduced

Would have required credit institutions covered by the State’s 2008 financial-support scheme to delay paying employee bonuses for five years after they were earned. The payment would be held in an independently managed, interest-bearing account, with tax due only when the employee received it; it could be withheld if the employee or their work had contributed to losses of more than €100,000. The measure aimed to ensure bonuses were justified and did not reward banking activity that caused significant losses.

Formal long title

Bill entitled an Act to make provision for the restriction and regulation of bonus payments made by credit institutions covered by the Credit Institutions (Financial Support) Act 2008 to employees of those credit institutions and to defer the payment of such bonus payments for a period of five years after the date upon which they have been earned in order to ensure that the bonus payments are justifiable and merited

Last updated 12 April 2018