Anglo Irish Bank Corporation Act 2009


Compensation Scheme.

28.— (1) Where the Assessor has reported to the Minister under section 27 that compensation is payable to persons for transferred shares and extinguished rights, the Minister shall, within one month of being notified of the determination (or, in the event of any appeal or judicial review, within one month after the conclusion of the appeal or judicial review), make a scheme (in this section referred to as the “Anglo Irish Bank Corporation Compensation Scheme”) providing procedures for—

(a) the making of a claim for compensation,

(b) if necessary, facilitating the calculation of the amount payable to each person concerned,

(c) the payment of those amounts to those persons, and

(d) if the Assessor considers that the payment of interest is appropriate in the circumstances, the payment of that interest.

(2) Without prejudice to the generality of subsection (1), the Anglo Irish Bank Corporation Compensation Scheme may provide for the following:

(a) the correction by the Assessor of any clerical, computational or typographical error, or any error of a similar nature, contained in the Assessor’s report under section 27 or any determination of compensation payable to a person;

(b) how notice is to be given to persons as to whether their claims for compensation have been accepted or rejected.