(1) The Minister has the functions provided for under subsection (2) where, following consultation with the Central Bank, the Minister is of the opinion that the performance of the functions so provided is necessary, in the public interest, for either or both of the following purposes:

(a) to remedy a serious disturbance in the economy of the State;

(b) to prevent potential serious damage to the financial system in the State and ensure the continued stability of that system.

(2) For either or both of the purposes mentioned in subsection (1), the Minister may give a direction to the Agency -

(a) to invest assets of the Fund in specified securities of a credit institution, or

(b) to underwrite or otherwise support the issue of any kind of securities of a credit institution,

and such direction may specify terms or conditions on, or subject to, which the thing concerned is to be done.