Vol. 525 No. 1
35 Mrs. B. Moynihan-Cronin asked the Minister for Finance if he has received any formal request from the trustees of the Trustee Savings Bank to approve new arrangements for the bank; and if he will make a statement on the matter. [23473/00]
58 Mr. U. Burke asked the Minister for Finance the discussions he has had recently with the board and management of TSB with a view to selling all or part of the bank; and if he will make a statement on the matter. [23637/00]
I propose to take Questions Nos. 35 and 58 together.
The trustees of TSB Bank, with my full support, announced on 28 March that they were inviting proposals in relation to the future of the bank. They are currently in the second stage of a sale process and as yet I have received no formal request from the trustees of the Trustee Savings Bank to approve new arrangements for the bank. I will give any formal request to approve new arrangements my full consideration upon receipt and then bring it to Government. An order under section 57 of the Trustee Savings Bank Act, 1989, which would have to be approved by each House of the Oireachtas would be required to authorise any reorganisation of the TSB. In the meantime, the necessary legislation is being prepared to allow for the sale of TSB and the establishment of an ESOP.
