Financial Services (Deposit Guarantee Scheme) Act 2009

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Reimbursement from Central Fund of certain payments by Bank.

8.— (1) If the Bank charges on the deposit protection account any payment out of the Bank’s own funds in accordance with the Deposit Guarantee Regulations, the amount of the payment shall, with the approval of the Minister, be repaid to the Bank out of the Central Fund or the growing produce of that Fund within 3 months.

(2) Any amount paid out of the Central Fund to the Bank under subsection (1) shall be repaid to the Central Fund from the deposit protection account (with interest at the rate or rates that the Minister determines, or without interest).

(3) The Minister shall determine the period over which the payment required by subsection (2) is to be made, taking account of the amount owing and the ability of the deposit protection account to make that repayment.