National Treasury Management Agency (Amendment) Act 2014
Relevant acquisitions and relevant transfers | ||
44. (1) Parts 2 and 3 of the Competition Act 2002 do not apply with respect to a relevant acquisition or a relevant transfer. | ||
(2) Nothing done by or on behalf of the Minister, the Agency or a Fund investment vehicle for the purposes of a relevant acquisition or a relevant transfer constitutes a reorganisation measure for the purposes of— | ||
(a) the European Communities (Reorganisation and Winding-Up of Credit Institutions) Regulations 2011 ( S.I. No. 48 of 2011 ), or | ||
(b) the European Communities (Reorganisation and Winding-up of Insurance Undertakings) Regulations 2003 ( S.I. No. 168 of 2003 ). | ||
(3) Nothing done by or on behalf of the Minister, the Agency or a Fund investment vehicle for the purposes of a relevant acquisition or a relevant transfer, and no acquisition by the Minister, the Agency or a Fund investment vehicle of shares or securities in connection with a relevant acquisition or a relevant transfer, constitutes— | ||
(a) an offer, a takeover, the acquisition of control or any other takeover transaction for the purposes of the Irish Takeover Panel Act 1997 or any rules made under section 8 of that Act, or | ||
(b) a takeover bid or bids, within the meaning of the European Communities (Takeover Bids (Directive 2004/25/EC)) Regulations 2006 ( S.I. No. 255 of 2006 ). | ||
(4) In this section— | ||
“relevant acquisition” means an acquisition by or on behalf of the Minister, the Agency or a Fund investment vehicle of an interest in a credit institution (being an acquisition that results or would result from a direction) and includes a proposal to make such an acquisition; | ||
“relevant transfer” means a transfer into the Fund, pursuant to section 46 (3), of an interest in a credit institution, and includes a proposal to make such a transfer. |