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S.I. No. 542/1942 - Banker's Deposit (Permission For Reduced Deposit) Order, 1942.

STATUTORY RULES AND ORDERS. 1942. No. 542.

BANKER'S DEPOSIT (PERMISSION FOR REDUCED DEPOSIT) ORDER, 1942.

WHEREAS it is enacted by subsection (1) of section 42 of the Central Bank Act, 1942 (No. 22 of 1942), that during the period of three years beginning on the 1st day of January next after the passing of that Act it shall not be lawful for any person to hold himself out as a banker unless he has deposited and keeps deposited in the High Court in accordance with Part V of the said Act the sum of ten thousand pounds or, in the case of a person to whom an order under subsection (3) of the said section 42 relates, the sum mentioned in such order—

AND WHEREAS it is enacted by subsection (3) of the said section 42 that the Minister for Finance, where satisfied that special considerations so warrant, may by order permit a person holding himself out as a banker to deposit and keep deposited in the High Court as aforesaid a sum less than the said sum of ten thousand pounds but not less than five thousand pounds :

AND WHEREAS the Commercial Banking Company, Limited, of No. 3 Palace Street in the City of Dublin, holds itself out as a banker within the meaning of Part V of the said Central Bank Act, 1942 , and the Minister for Finance is satisfied that special circumstances warrant him in permitting the said Commercial Banking Company, Limited, to deposit and keep deposited in the High Court as aforesaid the sum of five thousand pounds only :

NOW, the Minister for Finance, in exercise of the power conferred on him by subsection (3) of section 42 of the Central Bank Act, 1942 (No. 22 of 1942), and of every and any other power him in this behalf enabling, hereby orders as follows :—

1. This Order may be cited as the Banker's Deposit (Permission for Reduced Deposit) Order, 1942.

2. The Commercial Banking Company, Limited, of No. 3 Palace Street in the City of Dublin, is hereby permitted to deposit and keep deposited in the High Court in accordance with Part V of the Central Bank Act, 1942 (No. 22 of 1942), during the period of three years beginning on the 1st day of January next after the passing of that Act the sum of five thousand pounds only.

GIVEN under the Official Seal of the Minister for Finance, this 22nd day of December, 1942.

(Signed) SEÁN T. Ó CEALLAIGH,

Minister for Finance,