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.