Credit Institutions (Stabilisation) Act 2010

SCHEDULE 2

Amendments of Regulations of 2004

Section 77 .

Item

Provision Amended

Amendment

1

Regulation 2(1), definition of “administrative authority”, subparagraph ( a)

Insert after sub-subparagraph ( i):

“( ia) in relation to the making of an order under section 33(1) of the Central Bank Act 1971 (No. 24 of 1971) that is expressed as set out in section 33(4) of that Act, the Minister for Finance, or”.

2

Regulation 2(1), definition of “reorganisation measure”

Insert after subparagraph ( h):

“( i) a subordinated liabilities order (within the meaning given by the Credit Institutions (Stabilisation) Act 2010 (No. - of 2010));

( j) a direction order, special management order or transfer order (within the respective meanings given by that Act) that contains a declaration that it or part of it is made with the intention of preserving or restoring the financial position of the relevant institution;

( k) an order under section 33(1) of the Central Bank Act 1971 (No. 24 of 1971) that is expressed as set out in section 33(4) of that Act.”.

3

Regulation 2(2)

Substitute:

“(2) In relation to the reorganisation or winding up of an authorised credit institution, any of the following enactments that is relevant to the institution in the particular context is a relevant applicable enactment for the purposes of these Regulations:

( a) the Companies Acts;

( b) the Central Bank Acts;

( c) the Trustee Savings Banks Act 1989 (No. 21 of 1989);

( d) the Building Societies Act 1989 (No. 17 of 1989);

( e) the Asset Covered Securities Act 2001 (No. 47 of 2001);

( f) the Credit Institutions (Stabilisation) Act 2010 (No. 36 of 2010).”.