Currency Act, 1927

Registers of shareholders of Shareholding Banks.

42.—(1) In this section the expression “local register” means a register of such of the shareholders of the Bank in respect of which the expression is used as are resident in Saorstát Eireann with such particulars of those shareholders as are mentioned in section 25 of the Companies (Consolidation) Act, 1908 .

(2) Every Bank which is incorporated in a place outside Saorstát Eireann and is admitted to be one of the first Shareholding Banks and does not at the time of the establishment of the Commission maintain in Saorstát Eireann a local register shall within three months after such establishment or such longer period as may be sanctioned by the Minister after consultation with the Commission, set up in Saorstát Eireann a local register, and the failure of any such Bank so to set up such a register shall be a ground for removing such Bank from being a Shareholding Bank.

(3) No Bank which is incorporated in a place outside Saorstát Eireann shall be admitted after the establishment of the Commission to be a Shareholding Bank unless at the time of such admission it maintains in Saorstát Eireann a local register.

(4) If a Shareholding Bank which is incorporated in a place outside Saorstát Eireann ceases to maintain in Saorstát Eireann a local register, such cesser shall be a ground for removing such Bank from being a Shareholding Bank.

(5) Whenever a Shareholding Bank establishes in pursuance of this section a local register, such Bank shall forthwith furnish to the Registrar of Companies a copy of such register with a state ment annexed thereto of the several places in Saorstát Eireann at which it then carries on business.

(6) Every Shareholding Bank which maintains in pursuance of this section a local register shall in every month of January while it so maintains such register furnish to the Registrar of Companies a copy of such register as it stood on the first day of such month with a statement annexed thereto of the several places in Saorstát Eireann at which it carried on business on the said first day of such month, and any Shareholding Bank which furnishes in any month of January to the Registrar of Companies in accordance with this sub-section such copy of such register with such statement annexed thereto shall thereupon be relieved from making the return required by section 6 of the Bankers (Ireland) Act, 1825, to be made before the then next 25th day of March and from making the return required by section 22 of the Bankers (Ireland) Act, 1845 , in such month of January.