(1) Where -
(a) the holder of a licence proposes to participate in an acquiring transaction and that holder controls, or would control as a consequence of the proposed transaction, whether alone or with any subsidiary or associated company, not less than 20 per cent. of the total assets in the State of all holders of licences, or
(b) a person proposes to participate in an acquiring transaction which involves the acquisition of shares or other interest in a holder of a licence which controls, whether alone or with any subsidiary or associated company, not less than 20 per cent. of the total assets in the State of all holders of licences,
then the Bank shall neither give nor refuse to give its approval without the prior consent of the Minister.
(2) The Minister may give consent under subsection (1) only after consulting the Minister for Enterprise, Trade and Employment, and after being satisfied that the Bank's proposed decision to approve or refuse its approval -
(a) would be in th