Irish Bank Resolution Corporation Act 2013


Purposes of Act.

3.— The purposes of this Act are as follows—

( a) to help to address the continuing serious disturbance in the economy of the State;

( b) to provide for the winding up of IBRC in an orderly and efficient manner in the public interest;

( c) to end the exposure of the State and the Bank to IBRC;

( d) to help to restore the financial position of the State;

( e) to help to enable the State to re-establish normalised access to the international debt markets;

( f) to assist, to the extent achievable, in recovering the financial assistance provided by the State to IBRC as fully and efficiently as possible;

( g) to resolve the debt of IBRC to the Bank;

( h) to protect the interests of taxpayers;

( i) to restore confidence in the banking sector by furthering the reorganisation of the Irish banking system in the public interest;

( j) to underpin Government support measures in relation to the banking sector.