Dáil Éireann Debate, Wednesday - 29 September 2010
530 Deputy Joan Burton asked the Minister for Finance if the proposed split of Anglo Irish Bank into a funding bank and an asset recovery bank will require new legislation and, if so, when he expects to introduce this legislation; and if he will make a statement on the matter. [34111/10]
Amharc ar fhreagraAs the Deputy will be aware I have instructed Anglo Irish Bank to prepare, in conjunction with the NTMA, the Central Bank/Financial Regulator and my Department, a detailed plan to reflect the restructuring approach decided by Government. This involves splitting the existing bank into an Asset Recovery bank and a Funding bank. As part of this process the necessity or otherwise for the introduction of specific new legislation to underpin the implementation of the plan is being considered. Once this work is complete I will be in better position to advise the Deputy on the necessity or otherwise of new legislation.
