Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I thank Mr. Ó Brolcháin, Mr. Mac Donncha and their colleagues. The provision relating to ICS-Bank of Ireland resulted from an amendment to the restructuring plan which was approved by the European Commission. It was part of that process and was a condition which had to be put through. For ICS to effect that amendment, an amendment is required to the Central Bank legislation so that assets can be first transferred to Bank of Ireland, which can then sell them on. Is that what is happening here?