S.I. No. 90/2008 - Asset Covered Securities (Amendment) Act 2007 (Commencement) (Section 30) Order 2008

1. This Order may be cited as the

Asset Covered Securities (Amendment) Act 2007

(Commencement) (Section 30) Order 2008.

2. The 6th day of May 2008 is appointed as the day on which

section 30

of the

Asset Covered Securities (Amendment) Act 2007

(No. 13 of 2007) shall come into operation.

GIVEN under my Official Seal,

1 April 2008

BRIAN COWEN

Minister for Finance

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order appoints 6 May 2008 as the date for the coming into operation of

Section 30

of the

Asset Covered Securities (Amendment) Act 2007

.

This Act amends and updates the Asset Covered Securities (ACS) Act 2001 which facilitated the establishment in Ireland of a legislative and regulatory basis for the issuance of asset covered securities (Irish covered bonds). Section 30 relates to the regime for designated commercial mortgage credit institutions.

S.I. No. 90 of 2008

ASSET COVERED SECURITIES (AMENDMENT) ACT 2007 (COMMENCEMENT) (SECTION 30) ORDER 2008

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of

15

th April

, 2008.

I, BRIAN COWEN, Minister for Finance, in exercise of the powers conferred on me by section 61(3) of the

Asset Covered Securities (Amendment) Act 2007

(No. 13 of 2007), hereby order as follows