Finance Act, 2000

Amendment of section 63 of Central Bank Act, 1997.

158.—Section 63 of the Central Bank Act. 1997, is amended by the substitution of the following subsection for subsection (1):

“(1) Notwithstanding anything to the contrary contained in any enactment, or in any prospectus or other document relating to the terms of issue, holding or transfer of any securities or other instruments the issue or the transfer of such securities or other instruments may be made and shall be effective if instructions for the issue or transfer are communicated by electronic means and any issue or transfer of securities shall be deemed to be effective if recorded in a computerised system selected by the Bank following consultation with the National Treasury Management Agency, without the need for instructions in writing.”.