EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations provide for payments to be made to prevent, control or mitigate the effects of hardship caused to certain eligible persons. An eligible person is any person for the time being entered in the Register maintained by the Presbyterian Mutual Society, presently in administration, as holding investments in loans in that Society. Details of the Scheme made for this purpose by the Regulations are set out in the Schedule. Under it, the Department of Enterprise, Trade and Investment will provide funds for the Administrator of the Society to make payments to eligible persons. The Scheme also provides for the administration of the funds and for the terms and conditions of any payments made to and by the Administrator.