Legislation to nationalise Anglo has been passed through the Oireachtas this week as concern intensifies that other institutions might follow.
Please click here to review the Anglo Irish Bank Corporation Bill.
The Bill primarily provides for the transfer to the Minister for Finance of all the shares in Anglo Irish
Bank and the appointment of an Assessor to assess whether compensation should be paid in respect of the transferred shares, to determine the amount of that compensation, if any, and to provide for the payment of that compensation. A number of the Minister's functions may be exercised by the Minister's nominee.
The Bill was signed into law by the President on Wednesday and was passed without any amendments.