Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 15 July 2015 - onwards
  Version 2 of 2    

Regulation 170 Insufficiency in Fund.

(1) Where -

(a) the available financial means of the Fund are not sufficient to cover the costs to the Fund of a particular resolution action in the State, and

(b) the extraordinary ex-post contributions referred to in Regulation 167 are not immediately accessible, including for reasons relating to the financial position of the institution or institutions concerned,

the Minister may, on the written request of the resolution authority, advance to the Fund such sums as he or she thinks proper to enable payments out of the Fund to be made expeditiously.

(2) The payments of sums referred to in paragraph (1) shall be made on such terms as to repayment, interest and other matters as may be determined by the Minister after consulting the resolution authority.

(3) All sums paid out of the Fund in repayment of an advance under this Regulation or in pursuance of any term or condition subject to which an advance was made under this Regulation shall be placed to the credit of the account of the Ex

Comparing proposed amendment...