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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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55. Orders in relation to particular relevant institutions.

Ceased from 31 December 2014

(1) If the Minister, having consulted with the Governor, is of the opinion, in relation to a relevant institution, that the making of an order under this section is necessary to secure the achievement of any of the following purposes:

(a) to provide the assurance required to promote the financial stability of the relevant institution concerned;

(b) to remove or reduce the likelihood of a requirement for further State investment in that institution;

(c) to facilitate the return to normal operations of that institution;

(d) to facilitate the return to normal operations of the banking sector generally;

(e) to facilitate the acquisition of an interest in that institution by a person other than the State where the Minister is of the opinion that such an acquisition will contribute to the achievement of any of the purposes referred to in paragraphs (a) to (d),

the Minister may by order declare that the relevant institution shall be taken not to be a relevant institution during a period

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