The Seanad has passed emergency legislation giving effect to the €400bn Government guarantee to a range of financial institutions by 39 votes to 5.
The debate in the upper house began at 2.30am this morning, shortly after the Dáil overwhelmingly endorsed the plan.
There were some amendments to the Bill in the Seanad, so it now has to return for final approval in the Dáil when it resumes at 10.30am.
The Bill is expected to be signed into law by President McAleese around lunchtime.
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