103 Deputy Joan Burton asked the Minister for Finance if the Delegation of Banking System Functions Order 2010, SI 115, was prepared by the parliamentary counsel or by the Department of Finance; the precise legal basis for the delegation each of the following powers, namely, the negotiation, with credit institutions, of positions to be considered by him in relation to the possible provision of support under section 6 of the Act of 2008; the management of any acquisition by him of an interest in a covered institution; the management of any shareholding by him in a covered institution; where a scheme provides for the imposition by him on a covered institution of restrictions on the incurring of dated subordinated debt, a decision to impose such restrictions and the implementation of any such decision; the preparation of reports for consideration by him with a view to their presentation to the Oireachtas Committee on Finance and the Public Service, pursuant to the Act of 2008 and any scheme; subject to any relationship framework for the time being in effect pursuant to section 3(1) of the Anglo Irish Bank Corporation Act 2009 (No. 1 of 2009), his functions under subsections (3) and (4) of section 3, which relates to giving directions to Anglo Irish Bank Corporation Limited and section 34 which relates to the issue of securities of that Act; and if he will make a statement on the matter. [14108/10]

Summary

103 Deputy Joan Burton asked the Minister for Finance if the Delegation of Banking System Functions Order 2010, SI 115, was prepared by the parliamentary counsel or by the Department of Finance; the precise legal basis for the delegation each of the following powers, namely, the negotiation, with credit institutions, of positions to be considered by him in relation to the possible provision of support under section 6 of the Act of 2008; the management of any acquisition by him of an interest in a covered institution; the management of any shareholding by him in a covered institution; where a scheme provides for the imposition by him on a covered institution of restrictions on the incurring of dated subordinated debt, a decision to impose such restrictions and the implementation of any such decision; the preparation of reports for consideration by him with a view to their presentation to the Oireachtas Committee on Finance and the Public Service, pursuant to the Act of 2008 and any scheme; subject to any relationship framework for the time being in effect pursuant to section 3(1) of the Anglo Irish Bank Corporation Act 2009 (No. 1 of 2009), his functions under subsections (3) and (4) of section 3, which relates to giving directions to Anglo Irish Bank Corporation Limited and section 34 which relates to the issue of securities of that Act; and if he will make a statement on the matter. [14108/10]

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• Financial Institutions Support Scheme.

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