Financial Services (Deposit Guarantee Scheme) Act 2009

Amount of coverage in respect of eligible deposits.

2.— Where the Minister—

(a) makes regulations to give effect to the Directive, and

(b) after consulting with the Bank, considers it necessary in the public interest and in the interest of the proper and orderly regulation of credit institutions to make those regulations in accordance with this section,

until 31 December 2010 the Minister may by those regulations prescribe, as the amount of coverage to be provided for the aggregate deposits of a person maintaining a deposit with a credit institution, an amount greater than the minimum amount necessary to be prescribed from time to time to give effect to the Directive as adjusted under Article 7(7) of the Directive.