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Central Bank Act, 1971

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Number 24 of 1971


CENTRAL BANK ACT, 1971


ARRANGEMENT OF SECTIONS

Part I

Preliminary and General

Section

1.

Short title, collective citation, construction and commencement.

2.

Definitions.

3.

Expenses.

4.

Laying of orders and regulations before Houses of the Oireachtas.

5.

Repeals.

6.

Transitional provision.

Part II

Licensing and Supervision of Banks

7.

Restriction on carrying on of banking business.

8.

Exemption of persons from section 7.

9.

Grant of licences.

10.

Conditions of licences.

11.

Revocation of licences.

12.

Publication of names of holders of licences and notices of revocation of licences.

13.

Deposits at Bank for purposes of licences.

14.

Restriction on use of certain words.

15.

Provisions in relation to incorporation or banking companies.

16.

Provisions in relation to registration or change of business name.

17.

Provisions in relation to books and records of holders of licences.

18.

Furnishing of information to Bank.

19.

Publication of business statements by holders of licences.

20.

Displaying of financial statements by holders of licences.

21.

Directions by Bank to holders of licences.

22.

Directions by Bank in relation to advertisements of holders of licences.

23.

Regulation of ratios between assets and liabilities of holders of licences.

24.

Power of Bank to require deposits by holders of licences in certain circumstances.

25.

Power of Bank in respect of clearances of holders of licences.

26.

Collection of cheques, etc., drawn on holders of licences.

27.

Restriction on advertising for deposits.

28.

Provisions in relation to judgements against holders of licences.

29.

Proceedings in relation to deposits under section 7.

30.

Provisions in relation to bankruptcy and winding up.

31.

Duties of holder of licence on termination of banking business.

Part III

Transfers of Banks

32.

Interpretation (Part III).

33.

Approval by Minister of transfer of bank.

34.

Transfer of accounts.

35.

Transfer of securities.

36.

Rights and obligations in relation to transferred securities.

37.

Transfer in the case of property held on bailment.

38.

Transfer of officers, clerks and servants.

39.

Application of certain instruments.

40.

Application of Bankers' Books Evidence Act, 1879.

41.

Continuance of pending legal proceedings.

42.

Exemptions from stamp duty.

Part IV

Currency

43.

Standard of value.

44.

Issue of legal tender notes by Bank.

45.

Amendment of section 49 of Act of 1927.

46.

Amendment of section 50 of Act of 1927 and of section 5 of the Currency (Amendment) Act, 1930.

Part V

Miscellaneous

47.

Additional powers and functions of Bank.

48.

Central Bank Reserve Bonds.

49.

Transfer of Exchequer Account to Bank.

50.

Transfer of land bond registers to Bank.

51.

Provisions relating to Bank of Ireland.

52.

Amendment of Moneylenders Acts, 1900 and 1933.

53.

Directors of Bank.

54.

Superannuation.

55.

Return of deposits under Act of 1942.

56.

Amendment of Bankers' Books Evidence Act, 1879.

57.

Amendment of section 14 of Decimal Currency Act 1970.

58.

Offences and punishments.

59.

Prosecution of offences by Bank.

60.

Offences in relation to certain bodies.

Schedule

Enactments Repealed

Acts Referred to

Currency Act, 1927

1927, No. 32

Central Bank Act, 1942

1942, No. 22

Companies Act, 1963

1963, No. 33

Registration of Business Names Act, 1963

1963, No. 30

Bills of Exchange Act, 1882

1882, c. 61

Registration of Deeds Act, 1707

6 Anne, c. 2 (Ir.)

Registration of Title Act, 1964

1964, No. 16

Bankers'Books Evidence Act, 1879

1879, c. 11

Finance Act, 1895

1895, c. 16

Currency (Amendment) Act, 1930

1930, No. 30

Exchequer and Audit Departments Act, 1866

1866. c. 39

Bank of Ireland Act, 1929

1929, No. 4 (Private)

Moneylenders Act, 1900

1900, c 51

Central Bank Act, 1961

1961, No. 8

Bankers' Books Evidence (Amendment) Act, 1959

1959, No. 21

Decimal Currency Act, 1970

1970, No. 21

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Number 24 of 1971


CENTRAL BANK ACT, 1971


AN ACT TO MAKE FURTHER PROVISION IN RELATION TO BANKS AND BANKING, INCLUDING PROVISION FOR THE LICENSING AND SUPERVISION OF BANKS BY THE CENTRAL BANK OF IRELAND, TO AMEND AND EXTEND THE CURRENCY AND CENTRAL BANK ACTS, 1927 TO 1964, AND TO PROVIDE FOR OTHER MATTERS CONNECTED WITH THE MATTERS AFORESAID. [28th July, 1971]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: