A bill introducing special measures with regard to financial undertakings (Intervention Bill) has been published for consultation. The bill would extend government powers to intervene in financial undertakings which are in serious difficulties. Under the bill the Dutch Central Bank (DNB) could draw up a plan for the transfer of financial undertakings which are experiencing irreversible financial problems. DNB could submit the transfer plan to the courts and request an order to implement the transfer scheme. In addition, if a serious and immediate risk to the stability of the financial system is imminent, the Minister of Finance could:
- intervene in the internal governance mechanism of a financial undertaking
- as a last resort, take over ownership of a financial undertaking
The consultation period closed on 6 May 2011.