Collins loses appeal

in promissory note
challenge
Updated / Dec. 16, 2016 Main Article Image

Joan Collins said the minister did not have the power to allocate an
unlimited sum of public money

This is the actual article body

Independents4Change TD Joan Collins has lost her

challenge to the Minister for Finance's decision to
issue 31bn in promissory notes to Anglo Irish Bank
and other financial institutions.
The notes were effectively IOU notes from the State
allowing Anglo Irish Bank and other financial
institutions to get emergency funding from the
Central Bank in 2010.

Ms Collins argued that the Minister for Finance did

not have the power to allocate an unlimited sum of
public money.
She appealed the High Court's rejection of her
challenge.
But in a unanimous judgment, six Supreme Court
judges dismissed her appeal.
The core issue in the case was whether or not the
Minister for Finance had the power to allocate
unlimited sums of public money without the funds
being quantified and considered in advance by the
Oireachtas.
Ms Collins' legal team described this as an enormous
case and argued the constitution did not permit the
allocation of unlimited monies.
The State argued the minister had the power to issue
the 31bn in promissory notes to Anglo Irish Bank,
the Educational Building Society and Irish
Nationwide Building society under 2008 legislation
enacted by the Oireachtas to prevent a banking
collapse.
In the judgment, which was delivered by Chief Justice
Susan Denham, said the legislation was "undoubtedly
exceptional".
But she said it was a permissible constitutional
response to an exceptional situation.
However, Ms Justice Denham said it could not be
considered as a template for broader ministerial

power on other occasions.

She said it was unlikely the Oireachtas would
concede such wide ranging power in other less
pressing circumstances.
But she said if it did, and a minister or other body
was permitted to provide unlimited financial support,
without limitation in time to any commercial entity,
then it would not follow from this case that such
would be constitutionally permissible.
The ruling also found that the fact that no financial
cap was placed on the financial support capable of
being provided, might be imprudent.
Or she said it might be an entirely prudent, though
necessary and awesome response to an exceptional
situation.
In either case the Chief Justice said it is a decision
made by the organ empowered by the Constitution to
do so.
She said the Oireachtas was free to decide to impose
limits on the extent to which the State may borrow or
spend but that decision is one consigned by the
Constitution to the legislative branch and not the
judicial branch of government.
In the ruling, the court found the limits placed on the
exercise of ministerial power under the 2008 act did
not include a financial cap, beyond which the
financial support could not extend.
But it found the Constitution did not require such a
limit.

The court found that the Constitution requires that

the functions it confers on the organs of State must
be exercised by the appropriate organ and no one
else, in the manner set out in the Constitution and in
no other way.
In the ruling, the Chief Justice said it was true that in
this case the potential exposure was enormous.
The amount was vast and the impact on the State's
finances significant.
She said the legislation was exceptional but that did
not make it unconstitutional.
She said it was designed and tailored to meet an
exceptional situation - addressing an extraordinary
risk to the State's economy which could be said to
represent a systemic economic danger.
She said it was a feature of financial crises that
matters move very quickly and speed is often of the
essence.
If it was accepted that it was appropriate to make
provision for a swift response to a financial crisis in a
credit institution, then there can be no quarrel with
the fact that the minister for finance was the body
designated to make that decision.
She said if this was permissible, then it was difficult
to understand how the absence of a financial limit
could render the provision unconstitutional.
The Chief Justice said the court had no function in
considering the wisdom of decisions taken by other
branches of government, only a limited capacity to

review them in judicial review proceedings.

She said it was the court's function to ensure that the
constitutional organ which has the responsibility to
make such decisions whether they be wise or foolish,
trivial or far reaching, was allowed to do so within
the limits imposed by the Constitution.
She said the momentous nature of the decisions
which have been made in relation to the crisis which
the Irish economy experienced in recent years,
including those made in this case, highlighted the
importance of each organ of government respecting
the field of operation of the other branches and
performing its own functions conscientiously and
carefully.
http://www.rte.ie/news/2016/1216/839277-promissory-note-judgment/
joan-collins-v-minister-for-finance-delegate-spending But in a unanimous
judgment, six Supreme Court judges dismissed her appeal.
https://static.rasset.ie/documents/news/joan-collins-v-minister-for-financedelegate-spending.pdf

Irish Finance Minister admits promissory notes

arrangement was "totally illegal"
Feb 8, 2013
Michael Noonan: "Well, the legal people would say that the existing
promissory notes arrangement is totally contrary to..

Pat Kenny: "Illegal?"

Noonan: "Totally"

Context: http://www.independent.ie/irish-news/...

Full interview available here with comments beginning around nine
minutes in

http://www.rte.ie/radio/radioplayer/r...

https://www.youtube.com/watch?v=76z7gIJQEaA

Promissory Notes Are Legal Tender - Private

Banker from Blacks Law Dictionary
an 30, 2016
Private Bankers National Banking Association, http://www.PBNBA.com
Promissory Notes Are Legal Tender.
Private Banker from Blacks Law Dictionary, 5th Edition, page 133,
definition: Banking. The business of banking, as defined by law and
custom, consists in the issue of notes intended to circulate as
money..

And defines a Bankers Note (A Promissory Note) as: A commercial
instrument resembling a bank note in every particular except that it is
given by a private banker or unincorporated banking institution. A
Private Banker is a Financial Institution; Unincorporated Banking
Institution; and Financial Agency pursuant to 31 U.S.C. 5312. Private
Bankers National Banking Association, PBNBA, Bankers Acceptance
Promissory Note under (U.C.C. 2-304) states, "The price can be made
payable in money or otherwise...".

IRS codes section 1.1001-1 (4657) C.C.H. states that Federal Reserve Notes
(Dollars) are valueless. The only lawful money of the United States Of
America are gold and silver coins with 1 oz .999 pure gold or silver as per
Articles VIII and X of the Constitution

For the United States of America, 1787. Bank Loan Contracts or lender
promissory notes requiring legal money that is not true money such as:
bank checks, cash, check, money orders, attorney checks, bank transfers,
wire transfers, FEDERAL RESERVE PROMISSORY NOTE DOLLARS, cashier
checks, and certified checks from a bank, attorney, or escrow company are
illegal pursuant to Title 31 U.S.C. 5118(d)(2); 31 U.S.C.A. 463; and Public
Law 97-258 (September 13, 1982). Be sure to go to www.PBNBA.com
today and join hundreds of Private Bankers in the Private Bankers
National Banking Association and issue their preprocessed promissory
notes to pay off your debts at www.PBNBA.com. Let's beat the banks at
their own game.
https://www.youtube.com/watch?v=Zxl26hh3saM