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ARTICLE · 04 OCTOBER 2024

Irish Covered Bonds: A Significant Development

Matheson
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On 18 September 2024, the Government Legislation Programme (the "Programme") for Autumn 2024 was published. It identifies 29 bills to be prioritised for publication and 32 bills to be prioritised for drafting.

IrelandFinance and Banking
Turlough Galvin
Turlough Galvin
Vincent McConnon
Vincent McConnon
Alma Campion
Alma Campion
John Adams
John Adams
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On 18 September 2024, the Government Legislation Programme (the "Programme") for Autumn 2024 was published. It identifies 29 bills to be prioritised for publication and 32 bills to be prioritised for drafting. The Programme also includes legislation which is currently before the Irish Houses of the Oireachtas.

There is a significant inclusion in the Programme in relation to Irish covered bonds (Asset Covered Securities as they are referred to under the Irish covered bonds legislation). The Programme references heads of bill (i.e. a document which sets out the main objectives, headings and provisions of proposed draft legislation) being prepared in relation to the following : Asset Covered Securities (Amendment) Bill will amend the Asset Covered Securities Act 2001 to allow for the carrying on of Asset Covered Securities Business by Credit Institutions that are not restricted to the carrying on of Asset Covered Securities Business only; and to provide for related

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