Credit Institutions (Stabilisation) Act 2010

29A.

F29 [ Publication of subordinated liabilities orders.

29A . (1) The Minister shall, as soon as practicable after a subordinated liabilities order is made

( a ) serve a copy of the subordinated liabilities order on the relevant institution concerned, and

( b ) publish the order in 2 newspapers circulating generally in the State.

(2) Without delay after the service of the copy of the subordinated liabilities order, the relevant institution concerned shall take all reasonable measures to ensure that the subordinated creditors concerned are made aware of the order, including, without limiting the generality of the foregoing

( a ) making an announcement that relates to the existence of the subordinated liabilities order and its effect to a regulatory news service generally used by relevant institutions in the State whose securities are traded from time to time on a financial market (whether a regulated market or not), to make announcements to such markets,

( b ) providing a copy of the subordinated liabilities order to the regulatory news service referred to in paragraph ( a ), and

( c ) providing a copy of the announcement, and of the subordinated liabilities order, to each clearing house through which the subordinated creditors concerned would, in the ordinary course, acquire or settle subordinated liabilities held by them. ]

Annotations:

Amendments:

F29

Inserted (28.10.2011) by Central Bank and Credit Institutions (Resolution) Act 2011 (27/2011), s. 110(5) and sch. 2 part 5, item 29, S.I. No. 548 of 2011.