29A. Determination of Authority

For the purposes of supporting a resolution measure undertaken for a DI Scheme member and other matters relating to the measure, the Authority may, with the Minister’s approval, make a determination that an amount is to be paid out of the DI Fund and given to the trustee of the resolution fund for which the resolution measure was established.

The amount to be paid out of the DI Fund must not exceed the amount of compensation that would have been paid out of the DI Fund to the insured depositors of the DI Scheme member under Part 5 if a determination for such compensation had been made under section 21, after taking into account any amounts that the Agency would have been repaid from or out of the assets of the DI Scheme member under section 27.

Where the Authority determines that an amount is to be paid out of the DI Fund for the purpose mentioned in subsection (1), the Authority must immediately give a written notice to the Agency of its determination.

The notice mentioned in subsection (3) must be in such form and contain such information as may be agreed between the Authority and the Agency.

The Agency must, as soon as practicable upon receiving the notice mentioned in subsection (3), publish a notice in the Gazette to the effect that a payment is to be made from the DI Fund for the purpose mentioned in subsection (1).