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High Court dismisses a challenge by shareholders against the Credit Institutions (Stabilisation) Act 2010, affirming the constitutionality of the Act and its consistency with EU law, on the grounds that the Act, which was enacted during a severe financial crisis to stabilise the banking system, lawfully delegated powers to the Minister for Finance and provided necessary safeguards, including judicial oversight; and the Act's provisions did not violate the plaintiffs' property rights or rights to fair procedures and access to courts, as the restrictions were justified by the common good and were proportionate to the objectives pursued.
Credit Institutions (Stabilisation) Act 2010 - Constitution of Ireland - EU law - Article 63 TFEU - property rights - fair procedures - access to courts - financial crisis - banking system - Minister for Finance - judicial oversight - proportionality - common good - shareholders - declaratory reliefs.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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