Central Bank and Credit Institutions (Resolution) Bill 2011, April 2011

27-04-2013

On 28 February 2011, the Central Bank and Credit Institutions (Resolution) Bill 2011 (the “Bill”) was published by the outgoing Government. Its purpose is to provide an effective and expeditious resolution regime for certain credit institutions at the least cost to Ireland. If enacted, the Bill will provide a permanent regime for the resolution of certain failing institutions. The current emergency legislation, the Credit Institutions (Stabilisation) Act 2010 (the “Stabilisation Act”) lapses on 31 December 2012 unless extended, and applies only to a limited class of credit institution in any case.

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