S.I. No. 635/2011 - Credit Institutions (Financial Support) (Financial Support Period) (No. 2) Order 2011.

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 13th December, 2011.

I, MICHAEL NOONAN, Minister for Finance, in exercise of the powers conferred on me by section 6 (3B) of the Credit Institutions (Financial Support) Act 2008 (No. 18 of 2008), having regard to the matters set out in section 2 of that Act, hereby order as follows:

1. This Order may be cited as the Credit Institutions (Financial Support) (Financial Support Period) (No. 2) Order 2011.

2. For the purposes of section 6 (3B) of the Credit Institutions (Financial Support) Act 2008 (No. 18 of 2008) the period 1 January 2012 to 30 June 2012 is specified as a period during which credit institutions may incur borrowings, liabilities and obligations in respect of which financial support is provided under the Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009 ( S.I. No. 490 of 2009 ).

GIVEN under my Official Seal,

8 December 2011.

MICHAEL NOONAN,

Minister for Finance.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This order is made under Section 6(3B) of the Credit Institutions (Financial Support) Act 2008 which provides that the Minister may specify a period in respect of which such borrowings, liabilities and obligations may be incurred. The Minister thus sets out the issuance period of 1 January 2012 to 30 June 2012 in respect of all eligible liabilities set out in the Scheme.