S.I. No. 196/1973 - Regulation of Banks (Remuneration and Conditions of Employment) (Temporary Prohibition of Increases and Amendments) Order, 1973.

S.I. No. 196 of 1973.

REGULATION OF BANKS (REMUNERATION AND CONDITIONS OF EMPLOYMENT) (TEMPORARY PROHIBITION OF INCREASES AND AMENDMENTS) ORDER, 1973.

WHEREAS negotiations in relation to a claim by employees of the banks (within the meaning of the order following) for increases of their remuneration and for amendments or variations of other terms and conditions of their employment are now in progress:

NOW, I, MICHAEL O'LEARY, Minister for Labour, in exercise of the powers conferred on me by section 3 of the Regulation of Banks (Remuneration and Conditions of Employment) (Temporary Provisions) Act, 1973 (No. 12 of 1973), hereby order as follows:

1. This Order may be cited as the Regulation of Banks (Remuneration and Conditions of Employment) (Temporary Prohibition of Increases and Amendments) Order, 1973.

2. In this Order—

" the banks " means the following undertakings:

(a) Allied Irish Banks Limited,

(b) Northern Bank Limited,

(c) The Governor and Company of the Bank of Ireland,

(d) Ulster Bank Limited,

and any company (within the meaning of the Companies Act, 1963 (No. 33 of 1963), which is, or if every undertaking aforesaid were a company (within the meaning aforesaid), would be, a subsidiary (within the meaning of the said Companies Act, 1963 ) of any undertaking aforesaid;

" the negotiations " means the negotiations in relation to a claim by employees of the banks for increases of their remuneration and for amendments or variations of other terms and conditions of their employment which were in progress on the commencement of this Order.

3. The payment by the banks, on or after the 17th day of July, 1973, of increases to which the negotiations relate of the remuneration of employees of the banks is hereby prohibited.

4. The implementing by the Banks, on or after the 17th day of July, 1973, of amendments or variations to which the negotiations relate of other terms or conditions of employment of employees of the banks is hereby prohibited.

GIVEN under my Official Seal, this 16th day of July, 1973.

MICHAEL O'LEARY,

Minister for Labour.

EXPLANATORY NOTE.

This Order prohibits the Banks from paying, for a period, as from 17th July, 1973, increases of remuneration to their employees. The Order contains similar provisions in relation to variations in other terms or conditions of employment of Bank employees.