Credit Institutions (Stabilisation) Act 2010

9A

F12[Publication of direction orders.

9A. (1) The Minister shall, as soon as practicable after a direction order is made

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

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

(2) In a particular case, the Minister may, if he or she thinks it necessary to do so, publish a direction order by an additional means or in an additional place.

(3) Without delay after the service of the copy of the direction order, the relevant institution shall take all reasonable measures to ensure that its members are made aware of the order, including, without limiting the generality of the foregoing

(a) where the shares of the relevant institution are traded from time to time on a financial market (whether a regulated market or not), making an announcement that relates to the existence of the direction order and its effect, to a regulatory news service generally used by relevant institutions in the State for the purposes of announcements to such markets, and

(b) providing a copy of the direction order to the regulatory news service referred to in paragraph (a).]

Annotations

Amendments:

F12

Inserted (28.10.2011) by Central Bank and Credit Institutions (Resolution) Act 2011 (27/2011), s. 110(5) and sch. 2 part 5, item 12, S.I. No. 548 of 2011.