S.I. No. 338/1983 - Industrial and Provident Societies (Amendment) Act, 1978 (Section 5 (3)) Regulations, 1983.
S.I. No. 338 of 1983. | ||
INDUSTRIAL AND PROVIDENT SOCIETIES (AMENDMENT) ACT, 1978 (SECTION 5 (3)) REGULATIONS, 1983. | ||
I, FRANK CLUSKEY, Minister for Trade, Commerce and Tourism in exercise of the powers conferred on me by section 5 (3) of the Industrial and Provident Societies (Amendment) Act, 1978 (No. 23 of 1978), and the Industry, Commerce and Tourism (Alteration of Name of Department and Title of Minister) Order, 1981 ( S.I. No. 290 of 1981 ), after consultation with the Central Bank of Ireland, hereby make the following regulations: 1. These Regulations may be cited as the Industrial and Provident Societies (Amendment) Act, 1978 (Section 5 (3)) Regulations, 1983, and shall come into operation on the 14th day of November, 1983. 2. In these Regulations— | ||
"the Act of 1978" means the Industrial and Provident Societies (Amendment) Act, 1978 ; | ||
"the Court" means the High Court; | ||
"society" means a society registered under the Industrial and Provident Societies Acts, 1893 to 1978, and to which, by virtue of sections 4 and 9 of the Act of 1978, sections 10 to 18 of that Act apply. 3. (1) This Regulation applies to a society the membership of which consists wholly of credit unions. | ||
(2) The period referred to in section 5 (2) of the Act of 1978 is hereby extended by eight years for a society to which this Regulation applies. 4. (1) This Regulation applies to a society in respect of which the Court has by order— | ||
(a) appointed a liquidator or liquidators pursuant to the Industrial and Provident Societies Acts, 1893 to 1978, and the Companies Acts 1963 to 1983, or | ||
(b) confirmed and extended the period of operation of a direction under section 16 of the Act of 1978. | ||
(2) The period referred to in section 5 (2) of the Act of 1978 is hereby extended by three years for a society to which this Regulation applies. 5. (1) This Regulation applies to a society which was registered before the commencement of the Central Bank Act, 1971 (No. 24 of 1971). | ||
(2) The period referred to in section 5 (2) of the Act of 1978 is hereby extended by three years for a society to which this Regulation applies. 6. (1) This Regulation applies to a society other than a society to which Regulations 3 to 5 apply. | ||
(2) The period referred to in section 5 (2) of the Act of 1978 is hereby extended by one year for a society to which this Regulation applies. | ||
GIVEN under my Official Seal, this 11th day of November, 1983. | ||
FRANK CLUSKEY, | ||
Minister for Trade, Commerce andTourism. | ||
EXPLANATORY NOTE. | ||
These Regulations provide for an extension in the period of time during which certain classes of Industrial and Provident Societies may continue to accept and hold deposits. |