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Version status: Ceased | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2014 - onwards
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50. Minister's powers to impose requirements on relevant institutions.

Ceased from 31 December 2014

(1) The Minister may by notice in writing impose a requirement on a relevant institution if the Minister is of the opinion that it is necessary to do so to secure the achievement of any of the purposes of this Act (including reducing the reliance of that institution or another relevant institution on State financial support or assisting in the recapitalisation of a relevant institution, or providing necessary protection for the State in the context of such a recapitalisation).

(2) The requirements that may be imposed under this section include the following -

(a) to provide such information concerning the rights and liabilities of the relevant institution as the Minister requires to permit the effective and efficient making of a subordinated liabilities order;

(b) to provide such information concerning its assets and liabilities as the Minister requires to permit the effective and efficient making of a transfer order;

(c) to make a specified application to a specified authority or

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