Companies (Amendment) (No. 2) Act, 1999

Amendment of section 3 of Act of 1990.

6.—Section 3 of the Act of 1990 is hereby amended by the substitution of the following paragraphs for paragraph (b) of subsection (2):

“(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 ,

(iv) the ACC Bank public limited company,

(v) the ICC Bank public limited company, or

(vi) the ICC Investment Bank Limited,

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.

(c) Where the company referred to in section 2 is a company referred to in the Second Schedule to the Companies (Amendment) (No. 2) Act, 1999, (not being a company referred to in paragraph 18, 19 or 20 of that Schedule or to which paragraph (b) applies) the following provisions shall apply—

(i) a petition under section 2 may be presented by—

(I) any of the persons referred to in paragraph (a), (b), (c) or (d) of subsection (1) of this section (including by one or more of such persons acting together),

(II) the Central Bank, or

(III) one or more of such persons and the Central Bank acting together,

(ii) if the Central Bank does not present such a petition—

(I) the petitioner shall, before he presents the petition at the office of the court, cause to be received by the Central Bank a notice in writing of his intention to present the petition, and shall serve a copy of the petition on the Central Bank as soon as may be after the presentation of it at the said office,

(II) the Central Bank shall be entitled to appear and be heard at any hearing relating to the petition.”