Acc Bank Act, 2001

Amendment of section 3 of Companies (Amendment) Act, 1990.

11.—(1) Section 3(2)(b) (inserted by section 6 of the Companies (Amendment) (No. 2) Act, 1999 ) of the Companies (Amendment) Act, 1990 , is amended by the substitution for paragraph (b) of the following paragraph:

“(b) Where the company referred to in section 2 is—

(i) the holder of a licence under section 9 of the Central Bank Act, 1971 ,

(ii) a company which a building society has converted itself into under Part XI of the Building Societies Act, 1989 ,

(iii) a company which one or more trustee savings banks have been reorganised into pursuant to an order under section 57 of the Trustee Savings Banks Act, 1989 , or

(iv) the ACC Bank public limited company,

a petition under section 2 may be presented only by the Central Bank, and subsection (1) of this section shall not apply to the company”.

(2) Section 3(2)(b) (inserted by subsection (1)) of the Companies (Amendment) Act, 1990 , is amended by the substitution for paragraph (b) of the following paragraph:

“(b) Where the company referred to in section 2 is—

(i) the holder of a licence under section 9 of the Central Bank Act, 1971 ,

(ii) a company which a building society has converted itself into under Part XI of the Building Societies Act, 1989 , or

(iii) a company which one or more trustee savings banks have been reorganised into pursuant to an order under section 57 of the Trustee Savings Banks Act, 1989 ,

a petition under section 2 may be presented only by the Central Bank, and subsection (1) of this section shall not apply to the company.”.