National Asset Management Agency Act 2009

209.

Compliance with directions.

209.— (1) Where the F26 [ Central Bank ] is of the opinion that a participating institution has not complied with a direction under this Part, the F26 [ Central Bank ] may apply to the Court for an order that the institution comply with the direction.

(2) On hearing an application under subsection (1) , the Court may order the participating institution concerned to comply with the relevant direction or refuse the application, as it thinks fit.

(3) An application under subsection (1) shall be made summarily.

(4) When dealing with an application under subsection (1) the Court may make any interim or interlocutory order it considers appropriate.

(5) The Court shall not deny interim or interlocutory relief referred to in subsection (4) solely on the basis that the F26 [ Central Bank ] would not suffer any damage if the relief were not granted pending conclusion of the proceedings.

(6) If the Court is satisfied that for reasons of commercial confidentiality a hearing under this section should be conducted otherwise than in public, the Court may so order.

Annotations:

Amendments:

F26

Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 15(11) and sch. 2 part 11, S.I. 469 of 2010.