Central Bank and Credit Institutions (Resolution) Act 2011


Proposed special management order — contents.

57.— A proposed special management order—

( a) shall set out the right of the authorised credit institution concerned to make submissions in relation to the proposed application,

( b) shall specify the period in which the authorised credit institution may make such submissions,

( c) if it is proposed that any power of the special manager is to be exercisable immediately, shall specify the reasons why the special management order should have that effect,

( d) if the special management order is to be sought to appoint a special manager to a subsidiary or holding company of that credit institution, shall set out the name of the subsidiary or holding company, and

( e) shall set out such other provisions as the Bank may consider appropriate.