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Definition of substitution asset.
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6.—(1) The following assets are substitution assets for the purposes of this Act—
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(a) deposits with an eligible financial institution;
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(b) tier 1 assets;
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(c) any specified kind of property that is for the time being designated by order made under subsection (3)(a) to be a substitution asset.
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(2) The regulations must provide for a financial institution or class of financial institutions to be designated as an eligible financial institution for the purposes of subsection (1).
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(3) The Minister may, by order notified in Iris Oifigiúil—
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(a) designate a specified kind of property to be a substitution asset for the purposes of this Act, or
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(b) declare a specified kind of property to be no longer a substitution asset for those purposes.
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