Anglo Irish Bank Corporation Act 2009

17.

Suspension, etc., of articles of Anglo Irish Bank.

17.— (1) No provision of the Companies Acts nor the memorandum nor articles of Anglo Irish Bank requiring any notice to be given by Anglo Irish Bank or a member, or any consent to be obtained, before doing anything applies in relation to that Bank while the Minister or the Minister’s nominee is a member of it. In particular, the Minister or the Minister’s nominee may at any time without any notice or consent otherwise necessary—

( a) hold any meeting (including a general meeting) of Anglo Irish Bank,

( b) pass, at a meeting convened without notice, any resolution,

( c) take a decision in the way set out in Regulation 9 of the European Communities (Single-Member Private Limited Companies) Regulations 1994 ( S.I. No. 275 of 1994), but without the limitation imposed by paragraph (2) of that Regulation, and

( d) pass a written resolution in the way set out in section 141(8)( a) of the Companies Act 1963, but without the limitation imposed by section 141(8)( c) of that Act.

(2) Where the memorandum and articles of Anglo Irish Bank are altered by a resolution under paragraph (b), (c) or (d) of subsection (1), the alteration takes effect immediately, without any necessity for regulatory or other consent.

(3) The articles of Anglo Irish Bank are to be taken to contain regulation 6 of Part II of Table A in the First Schedule to the Companies Act 1963.

(4) The provisions of the articles of Anglo Irish Bank authorising its directors to issue and allot shares are to be taken not to have had effect during the period beginning on 15 January 2009 and ending at the commencement of this Act.