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No. 8/1997:
CENTRAL BANK ACT, 1997
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ARRANGEMENT OF SECTIONS
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PART I
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PRELIMINARY AND GENERAL
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Section
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1. Short title, construction, collective citation and commencement.
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2. Interpretation.
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3. Laying of regulations and orders before Houses of the Oireachtas.
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4. Repeals.
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PART II
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REGULATION OF PAYMENT SYSTEMS
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5. Definitions (Part II).
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6. Membership of payment system.
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7. Payment systems.
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8. Existing payment systems.
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9. Approval of rules.
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10. Refusal to approve of rules.
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11. Application of section 17 of Act of 1971.
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12. Failure to comply with conditions or requirements.
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13. Revocation of approval of rules of payment system.
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14. Offences.
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15. Imposition of requirements for membership.
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16. Amendment of section 26 of Act of 1971.
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17. Exemption of payment systems.
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18. Payment of fees.
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19. Prohibition of revocation of certain payments.
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20. Electronic settlement of accounts.
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21. Amendment of section 7 of Act of 1942.
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22. Power to make regulations for cross-border transfers.
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PART III
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POWER OF THE BANK TO FORM OR ACQUIRE A COMPANY
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23. Power of Bank to form or acquire a company.
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PART IV
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FUNCTIONS AND DUTIES OF GOVERNOR OF BANK
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24. Functions and duties of Governor.
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25. Amendment of section 8 of Act of 1942.
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26. Amendment of section 19 of Act of 1942.
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27. Application of section 20 of Act of 1942.
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PART V
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SUPERVISION OF Bureaux de Change
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28. Definitions (Part V).
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29. Prohibition of carrying on of bureau de change functions.
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30. Requirements or conditions for bureaux de change.
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31. Application of section 17 of Act of 1971 to bureaux de change.
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32. Failure by bureaux de change to comply with requirements or conditions.
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33. Publication of names.
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34. Offences and penalties.
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35. Revocation of authorisations.
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36. Amendment of Consumer Credit Act, 1995.
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PART VI
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AMENDMENTS TO INVESTMENT INTERMEDIARIES ACT, 1995
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37. Amendment of section 4 of Investment Intermediaries Act, 1995.
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38. Amendment of section 8 of Investment Intermediaries Act, 1995.
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39. Amendment of section 10 of Investment Intermediaries Act, 1995.
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40. Amendment of section 20 of Investment Intermediaries Act, 1995.
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41. Amendment of section 22 of Investment Intermediaries Act, 1995.
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42. Amendment of section 25 of Investment Intermediaries Act, 1995.
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43. Amendment of section 26 of Investment Intermediaries Act, 1995.
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44. Amendment of section 27 of Investment Intermediaries Act, 1995.
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45. Amendment of section 28 of Investment Intermediaries Act, 1995.
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46. Amendment of section 29 of Investment Intermediaries Act, 1995.
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47. Amendment of section 31 of Investment Intermediaries Act, 1995.
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48. Amendment of section 64 of Investment Intermediaries Act, 1995.
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49. Amendment of section 78 of Investment Intermediaries Act, 1995.
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PART VII
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MISCELLANEOUS
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50. Amendment of section 24 of Act of 1942.
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51. Amendment of section 28 of Act of 1942.
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52. Amendment of section 16 of Act of 1989.
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53. Application of section 47 of Act of 1989.
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54. Amendment of section 48 of Act of 1989.
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55. Amendment of section 75 of Act of 1989.
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56. Amendment of section 76 of Act of 1989.
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57. Amendment of section 90 of Act of 1989.
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58. Amendment of section 91 of Act of 1989.
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59. Amendment of section 92 of Act of 1989.
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60. Amendment of section 3(2) of Consumer Credit Act, 1995.
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61. Amendment of Part II, Chapter VII of Act of 1989.
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62. Amendment of section 104 of Act of 1989.
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63. Amendment of section 139 of Act of 1989.
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64. Amendment of section 3 of Bretton Woods Agreements Act, 1957.
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65. Amendment of section 3 of International Finance Corporation Act, 1958.
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66. Amendment of section 3 of International Development Association Act, 1960.
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67. Amendment of section 3 of Multilateral Investment Guarantee Agency Act, 1988.
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68. Amendment of section 3 of European Bank for Reconstruction and Development Act, 1991.
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69. Amendment of Part II, Chapter II of Act of 1989.
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70. Amendment of Act of 1971.
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71. Amendment of section 11 of Act of 1971.
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72. Amendment of section 48 of Act of 1971.
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73. Amendment of section 51 of Act of 1971.
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74. Injunction to prevent an unauthorised person acting as a credit institution.
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75. Powers of inspection.
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76. Search and seizure.
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77. Examination by Comptroller and Auditor General.
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78. Amendment of Building Societies Act, 1989.
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79. Information to be supplied by mortgage lenders.
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80. Amendment of Trustee (Authorised Investments) Act, 1958.
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81. Amendment of European Communities (Deposit Guarantee Schemes) Regulations, 1995.
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82. References to company in ICC Bank Act, 1992.
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83. Amendment of Stock Transfer Act, 1963.
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84. Representative offices.
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85. Amendment of Decimal Currency Act, 1969.
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SCHEDULE
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PART I
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REPEALS
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PART II
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REVOCATION
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ACTS REFERRED TO
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| ACC Bank Act, 1992 |
1992, No. 6 |
| Bretton Woods Agreements Act, 1957 |
1957, No. 18 |
| Building Societies Act, 1989 |
1989, No. 17 |
| Central Bank Acts, 1942 to 1989 |
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| Companies Acts, 1963 to 1990 |
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| Companies (Amendment) Act, 1977 |
1977, No. 31 |
| Companies (Amendment) Act, 1986 |
1986, No. 25 |
| Comptroller and Auditor General (Amendment) Act, 1993 |
1993, No. 8 |
| Consumer Credit Act, 1995 |
1995, No. 24 |
| Criminal Justice Act, 1994 |
1994, No. 15 |
| Data Protection Act, 1988 |
1988, No. 25 |
| Decimal Currency Act, 1969 |
1969, No. 23 |
| European Bank for Reconstruction and Development Act, 1991 |
1991, No. 1 |
| Finance Act, 1980 |
1980, No. 14 |
| Finance Act, 1981 |
1981, No. 16 |
| Finance Act, 1986 |
1986, No. 13 |
| Finance Act, 1987 |
1987, No. 10 |
| ICC Bank Act, 1992 |
1992, No. 21 |
| Insurance Act, 1989 |
1989, No. 3 |
| International Development Association Act, 1960 |
1960, No. 35 |
| International Finance Corporation Act, 1958 |
1958, No. 22 |
| Investment Intermediaries Act, 1995 |
1995, No. 11 |
| Investment Limited Partnerships Act, 1994 |
1994, No. 24 |
| Multilateral Investment Guarantee Agency Act, 1988 |
1988, No. 32 |
| Netting of Financial Contracts Act, 1995 |
1995, No. 25 |
| Pensions Acts, 1990 to 1996 |
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| Public Offices Fees Act, 1879 |
42 & 43 Vict., c. 58 |
| Statistics Act, 1993 |
1993, No. 21 |
| Stock Exchange Act, 1995 |
1995, No. 9 |
| Stock Transfer Act, 1963 |
1963, No. 21 |
| Trustee Act, 1893 |
56 & 57 Vict., c. 53 |
| Trustee (Authorised Investments) Act, 1958 |
1958, No. 8 |
| Trustee Savings Banks Act, 1989 |
1989, No. 21 |
| Unit Trusts Act, 1990 |
1990, No. 37 |
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Number 8 of 1997
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CENTRAL BANK ACT, 1997
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AN ACT TO MAKE PROVISION FOR THE REGULATION BY THE CENTRAL BANK OF IRELAND OF PAYMENT SYSTEMS AND BUREAUX de CHANGE, AND TO AMEND AND EXTEND THE CENTRAL BANK ACTS, 1942 TO 1989 AND OTHER ENACTMENTS, AND TO PROVIDE FOR RELATED MATTERS.
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[31st March, 1997]
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BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:
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