45.Section 13 corrects an anomaly created by the 2007 Act, reinstating the position before the 2007 Act came into effect. Subsection (2) modifies section 76 of the 2016 Act to ensure that no commissioners may be elected when AiB is the trustee in sequestration. Subsection (3) modifies section 77 of the 2016 Act so that if a commissioner already holds office, then they cease to hold office if AiB becomes the trustee.
See the glossary in the Policy Memorandum for definition of terms.