Dáil Éireann Debate, Tuesday - 23 April 2013
241. Deputy Michael McCarthy asked the Minister for Finance if he will confirm if a person who holds a US passport and an Irish passport is eligible to buy shares in financial institutions in the State; if he will advise on the eligibility criteria that would apply in such cases; and if he will make a statement on the matter. [18802/13]
Amharc ar fhreagraWhere the ownership of a financial institution is in the form of shares quoted on a stock exchange it would be open to a person as described by the Deputy to purchase shares in that financial institution. However the Deputy may be interested to note that in certain cases the Central Bank’s prior approval is required where an individual or legal entity seeks to undertake an acquiring transaction which represents 10% or more of the capital or of the voting rights or which makes it possible to exercise a significant influence over the management of that institution. In such a situation the Central Bank will assess the proposed acquirer in line with the criteria as set out in Statutory Instrument 206 of 2009.
