(1) A fund, to be known as the Credit Institutions Resolution Fund and referred to in this Act as "the Fund", is established.
(2) The purpose of the Fund is to provide a source of funding for the resolution of financial instability in, or an imminent serious threat to the financial stability of, an authorised credit institution, and in particular -
(a) [deleted]
(b) to provide funds for any payment required pursuant to section 37(1), 42(5), 46, 48 or 98,
(c) with the written consent of the Minister, to provide capital for a bridge-bank, and
(d) to meet the Bank’s expenses in discharging its functions under this Act.
(3) The Fund shall be constituted by -
(a) the contributions made by authorised credit institutions pursuant to section 13,
(b) any sums paid into it by the Minister pursuant to section 12,
(c) any assets of a bridge-bank transferred to it pursuant to section 17(6), and
(d) interest on those sums, contributions and assets.
(4) Subject to section 11(3), the Bank shall not
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