Central Bank Act, 1997

Application of section 20 of Act of 1942.

27.—(1) Section 20 of the Act of 1942 shall apply as if every reference to a bank, wherever it occurs, were a reference to a credit institution, a financial institution or an insurance undertaking.

(2) Nothing in section 20 of the Act of 1942 shall be construed as prohibiting the Governor of the Bank from effecting any policy of insurance or purchasing the units of, or participating in, any collective investment scheme whose funds are invested in bonds or equities generally, including the bonds or shares of a credit institution or financial institution, or from having an ordinary savings account with a building society or a friendly society.