Anglo Irish Bank Corporation Act 2009
Number 1 of 2009
ANGLO IRISH BANK CORPORATION ACT 2009
REVISED
Updated to 8 February 2019
This revised Act is an administrative consolidation of the Anglo Irish Bank Corporation Act 2009. It is prepared by the Law Reform Commission in accordance with its function under the Law Reform Commission Act 1975 (3/1975) to keep the law under review and to undertake revision and consolidation of statute law.
All Acts up to and including Local Government Act 2019 (1/2019), enacted 25 January 2019, and all statutory instruments up to and including Anglo Irish Bank Corporation Act 2009 (Section 36) Regulations 2019 (S.I. No. 35 of 2019), made 7 February 2019, were considered in the preparation of this Revised Act.
Disclaimer: While every care has been taken in the preparation of this Revised Act, the Law Reform Commission can assume no responsibility for and give no guarantees, undertakings or warranties concerning the accuracy, completeness or up to date nature of the information provided and does not accept any liability whatsoever arising from any errors or omissions. Please notify any errors, omissions and comments by email to
revisedacts@lawreform.ie.
Number 1 of 2009
ANGLO IRISH BANK CORPORATION ACT 2009
REVISED
Updated to 8 February 2019
ARRANGEMENT OF SECTIONS
Section
2. Functions performed in the public interest.
3. Relationship framework between the Minister and Anglo Irish Bank.
5. Acquisition of shares in Anglo Irish Bank.
6. Effect of acquisition of shares.
7. General exercise of Minister’s rights as shareholder.
8. Minister’s power to transfer shares to nominee.
9. Effect on certain other rights.
10. Extinguishment of certain rights in relation to shares.
11. Equitable interests in shares.
13. Disapplication, etc., of certain provisions of Central Bank Acts.
14. Disapplication, etc., of certain laws relating to companies.
16. Disapplication of certain requirements in relation to notice of acquisition of shares.
17. Suspension, etc., of articles of Anglo Irish Bank.
18. Minister may alter financial year of Anglo Irish Bank.
19. Removal of directors, etc., of Anglo Irish Bank.
20. Appointment of directors, etc., of Anglo Irish Bank.
21. No shadow or de facto directorship.
23. Expenses, etc., of Assessor and engagement of staff.
25. Determination of fair and reasonable aggregate value.
26. Circulation of draft report for comment.
30. Amount payable as compensation.
31. Review of determination of compensation, etc.
32. Limitation of judicial review of the Assessor’s determination.
33. Expenses, etc., of Minister.
34. Minister may issue securities, etc.
36. Regulations — facilitation of performance of functions.
37. Regulations — general implementation of this Act.
Powers to Require Persons to Give Evidence or Produce Documents
Acts Referred to
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Asset Covered Securities Acts 2001 and 2007 |
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1942, No. 22 |
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1971, No. 24 |
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1989, No. 16 |
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1997, No. 8 |
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Central Bank and Financial Services Authority of Ireland Act 2003 |
2003, No. 12 |
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Central Bank and Financial Services Authority of Ireland Act 2004 |
2004, No. 21 |
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1963, No. 33 |
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1983, No. 13 |
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1990, No. 33 |
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Companies Acts |
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2002, No. 14 |
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2007, No. 19 |
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2008, No. 18 |
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1972, No. 27 |
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1970, No. 14 |
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Investment Funds, Companies and Miscellaneous Provisions Act 2006 |
2006, No. 41 |
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1997, No. 5 |
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2001, No. 37 |
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1990, No. 18 |
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1947, No. 44 |
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Unfair Dismissals Acts 1977 to 2007 |
Number 1 of 2009
ANGLO IRISH BANK CORPORATION ACT 2009
REVISED
Updated to 8 February 2019
AN ACT TO PROVIDE, IN THE PUBLIC INTEREST, FOR MAINTAINING THE STABILITY OF THE FINANCIAL SYSTEM IN THE STATE, AND FOR THAT PURPOSE—
(A) TO PROVIDE FOR THE TRANSFER TO THE MINISTER FOR FINANCE OR THE MINISTER’S NOMINEE OF ALL THE SHARES IN ANGLO IRISH BANK CORPORATION PUBLIC LIMITED COMPANY,
(B) TO EXTINGUISH CERTAIN RIGHTS IN ANGLO IRISH BANK,
(C) TO DISAPPLY CERTAIN PROVISIONS OF THE COMPANIES ACTS AND OTHER ENACTMENTS IN SO FAR AS THEY RELATE TO ANGLO IRISH BANK,
(D) TO PROVIDE FOR THE REMOVAL OF PERSONS FROM CERTAIN OFFICES, POSITIONS OR EMPLOYMENT WITH ANGLO IRISH BANK AND THE APPOINTMENT OF PERSONS TO THOSE OFFICES OR POSITIONS OR THAT EMPLOYMENT,
(E) TO PROVIDE FOR THE APPOINTMENT OF AN ASSESSOR TO ASSESS WHETHER COMPENSATION SHOULD BE PAID TO PERSONS WHOSE SHARES WERE TRANSFERRED TO THE MINISTER FOR FINANCE OR WHOSE RIGHTS WERE EXTINGUISHED, AND IF SO TO DETERMINE THE FAIR AND REASONABLE AMOUNT PAYABLE AS SUCH COMPENSATION,
(F) TO PROVIDE FOR THE PAYMENT OF ANY SUCH COMPENSATION,
(G) TO MAKE CONSEQUENTIAL AMENDMENTS TO CERTAIN OTHER ENACTMENTS, AND
(H) TO PROVIDE FOR CONNECTED MATTERS.
[21st January, 2009]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:
Annotations
Editorial Notes:
E1
Act, other than s. 2, included in definition of "designated enactments" for purposes of Central Bank Act 1942 (22/1942) by Central Bank Act 1942 (22/1942), s. 2(1) and sch. 2 part 1 item 35, as substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14(1) and sch. 1 part 1 items 6 and 82, S.I. No. 469 of 2010.