Anglo Irish Bank Corporation Act 2009 provides for State acquisition of all shares (irishstatutebook.ie)

• All shares in Anglo Irish Bank transferred to Minister for Finance on 21 January 2009
• Bank re-registered as private company limited by shares; rights extinguished
• Minister gains power to remove and appoint directors and officers
• Independent Assessor to determine fair compensation for shareholders
• Competition and company law provisions disapplied for the transaction

"The Anglo Irish Bank Corporation Act 2009 transfers all shares in Anglo Irish Bank to the Minister for Finance, re-registers the bank as a private limited company, and extinguishes certain share-related rights. It establishes a framework for the Minister's relationship with the bank, allows removal and appointment of directors, and provides for an independent Assessor to determine fair compensation for shareholders. The Act also disapplies numerous company and competition law provisions to facilitate the nationalisation. The measure was enacted in the public interest to maintain financial stability."