IE
(LRC Revised)
Statutory Text (1 Articles)
Number 1 of 2009
ANGLO IRISH BANK CORPORATION ACT 2009
REVISED
Updated to 8 February 2019
Changes to legislation
as of 10 July 2026, this Act is up to date with all changes known to be in force.
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
1. Definitions.
2. Functions performed in the public interest.
3. Relationship framework between the Minister and Anglo Irish Bank.
4. Effect of this Act.
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.
12. De-listing.
13. Disapplication, etc., of certain provisions of Central Bank Acts.
14. Disapplication, etc., of certain laws relating to companies.
15. Disapplication of certain provisions of Competition Act 2002 and Credit Institutions
(Financial Support) Act 2008.
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.
22. Appointment of Assessor.
23. Expenses, etc., of Assessor and engagement of staff.
24. Submissions to Assessor.
25. Determination of fair and reasonable aggregate value.
26. Circulation of draft report for comment.
27. Report by Assessor.
28. Compensation Scheme.
29. Claims for compensation.
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.
35. Offences under this Act.
36. Regulations — facilitation of performance of functions.
37. Regulations — general implementation of this Act.
38. Amendment of other Acts.
39. Short title.
SCHEDULE
Powers to Require Persons to Give Evidence or Produce Documents
Acts Referred to
Asset Covered Securities Acts 2001 and 2007
Central Bank Act 1942
1942, No. 22
Central Bank Act 1971
1971, No. 24
Central Bank Act 1989
1989, No. 16
Central Bank Act 1997
1997, No. 8
Central Bank and Financial Services Authority of Ireland Act 2003
2003, No. 12
Central Bank and Financial Services Authority of Ireland Act 2004
2004, No. 21
Companies Act 1963
1963, No. 33
Companies (Amendment) Act 1983
1983, No. 13
Companies Act 1990
1990, No. 33
Companies Acts
Competition Act 2002
2002, No. 14
Consumer Protection Act 2007
2007, No. 19
Credit Institutions (Financial Support) Act 2008
2008, No. 18
European Communities Act 1972
1972, No. 27
Finance Act 1970
1970, No. 14
Investment Funds, Companies and Miscellaneous Provisions Act 2006
2006, No. 41
Irish Takeover Panel Act 1997
1997, No. 5
Local Government Act 2001
2001, No. 37
National Treasury Management Agency Act 1990
1990, No. 18
Statutory Instruments Act 1947
1947, No. 44
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.
[21
st 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.
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.
ARRANGEMENT OF SECTIONS
Section
1. Definitions.
2. Functions performed in the public interest.
3. Relationship framework between the Minister and Anglo Irish Bank.
4. Effect of this Act.
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.
12. De-listing.
13. Disapplication, etc., of certain provisions of Central Bank Acts.
14. Disapplication, etc., of certain laws relating to companies.
15. Disapplication of certain provisions of Competition Act 2002 and Credit Institutions
(Financial Support) Act 2008.
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.
22. Appointment of Assessor.
23. Expenses, etc., of Assessor and engagement of staff.
24. Submissions to Assessor.
25. Determination of fair and reasonable aggregate value.
26. Circulation of draft report for comment.
27. Report by Assessor.
28. Compensation Scheme.
29. Claims for compensation.
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.
35. Offences under this Act.
36. Regulations — facilitation of performance of functions.
37. Regulations — general implementation of this Act.
38. Amendment of other Acts.
39. Short title.
SCHEDULE
Powers to Require Persons to Give Evidence or Produce Documents