IE
CENTRAL BANK ACT, 1942
Statutory Text (3 Articles)
FIRST SCHEDULE. Enactments Repealed.
Enactments Repealed.
Part I.
Sections of the Currency Act repealed in whole or in part.
Section Repealed
Section Repealed
Extent of Repeal
Extent of Repeal
Date of Repeal
Date of Repeal
Sections 14 to 28.
Sections 14 to 28.
The whole of each section.
The whole of each section.
The appointed day.
The appointed day.
Section 30.
Section 30.
The whole of the section.
The whole of the section.
The appointed day.
The appointed day.
Sections 32 to 34.
Sections 32 to 34.
The whole of each section.
The whole of each section.
The appointed day.
The appointed day.
Section 38.
Section 38.
Sub-sections (2) and (3).
Sub-sections (2) and (3).
The appointed day.
The appointed day.
Sections 39 and 44.
Sections 39 and 44.
The whole of each section.
The whole of each section.
The passing of this Act.
The passing of this Act.
Sections 40 and 41.
Sections 40 and 41.
The whole of each section.
The whole of each section.
The appointed day.
The appointed day.
Section 47.
Section 47.
The words “or the note reserve fund” where those words occur in sub-sections (4), (5), and (6) respectively.
The words “or the note reserve fund” where those words occur in sub-sections (4), (5), and (6) respectively.
The completion of the winding-up of the note reserve fund.
The completion of the winding-up of the note reserve fund.
Sections 53, 54, and 55.
Sections 53, 54, and 55.
The whole of each section.
The whole of each section.
The day after the date of the passing of this Act.
The day after the date of the passing of this Act.
Section 62.
Section 62.
The whole of the section.
The whole of the section.
The completion of the winding-up of the note reserve fund.
The completion of the winding-up of the note reserve fund.
Section 63.
Section 63.
In sub-section (2), the words “or paid into the note reserve fund,” and the words “or out of the note reserve fund.”
In sub-section (2), the words “or paid into the note reserve fund,” and the words “or out of the note reserve fund.”
The completion of the winding-up of the note reserve fund.
The completion of the winding-up of the note reserve fund.
Section 63.
Section 63.
Sub-sections (3) and (6); in sub-section (7), the words “or the balance of such surplus income remaining after payment of dividends under the foregoing sub-section (as the case may be)”.
Sub-sections (3) and (6); in sub-section (7), the words “or the balance of such surplus income remaining after payment of dividends under the foregoing sub-section (as the case may be)”.
The appointed day.
The appointed day.
Section 64.
Section 64.
The whole of the section.
The whole of the section.
The appointed day.
The appointed day.
Section 65.
Section 65.
The whole of the section.
The whole of the section.
The day after the date of the passing of this Act.
The day after the date of the passing of this Act.
Section 66.
Section 66.
Sub-section (2).
Sub-section (2).
The day after the date of the passing of this Act.
The day after the date of the passing of this Act.
Part II.
Other enactments repealed.
Number and Year
Number and Year
Short Title
Short Title
Extent of Repeal
Extent of Repeal
Date of Repeal
Date of Repeal
No. 14 of 1926.
No. 14 of 1926.
The Coinage Act, 1926.
The Coinage Act, 1926.
Section 11.
Section 11.
The appointed day.
The appointed day.
No. 30 of 1930.
No. 30 of 1930.
The Currency (Amendment) Act, 1930.
The Currency (Amendment) Act, 1930.
In sub-section (1) of section 3 the words “or the note reserve fund or both those funds” and the words “or to the list of forms contained in sub-section (2) of section 62 of the Principal Act or to both of those lists,” and in sub-section (4) of the said section 3, the words “or section 62” and the words “or both those sections (as the case may be)”.
In sub-section (1) of section 3 the words “or the note reserve fund or both those funds” and the words “or to the list of forms contained in sub-section (2) of section 62 of the Principal Act or to both of those lists,” and in sub-section (4) of the said section 3, the words “or section 62” and the words “or both those sections (as the case may be)”.
The completion of the winding-up of the note reserve fund.
The completion of the winding-up of the note reserve fund.
No. 20 of 1932.
No. 20 of 1932.
The Finance Act, 1932.
The Finance Act, 1932.
Section 49.
Section 49.
The day after the date of the passing of this Act.
The day after the date of the passing of this Act.
No. 18 of 1937.
No. 18 of 1937.
The Finance Act, 1937.
The Finance Act, 1937.
Section 15.
Section 15.
The day after the date of the passing of this Act.
The day after the date of the passing of this Act.
SECOND SCHEDULE. Rules for the Elections of Panels for the Appointment of Banking Directors.
Rules for the Elections of Panels for the Appointment of Banking Directors.
Rules applicable to every case.
1.—In this Schedule the word “representative” means a representative of an Associated Bank present at a meeting for the election of a panel, and the word “meeting” means a meeting of representatives to elect a panel.
2.—The representatives shall elect one of their number to be the chairman of the meeting and such chairman shall conduct the proceedings at the meeting, but shall not have any second or casting vote.
3.—Save as is otherwise provided by these Rules, all questions arising at the meeting shall be decided by the vote of the majority of the representatives.
4.—The meeting may be adjourned from time to time but shall not be adjourned to a time later than three days after the time appointed under this Act for the meeting.
5.—At the conclusion of the election the chairman shall prepare a statement in writing setting forth the names of the representatives and the names of the banks they respectively represented and the names, addresses, and descriptions of the persons forming the panel elected at the meeting, and such statement shall then be signed by the chairman and at least one-third of the other representatives and shall be sent by the chairman to the Minister in accordance with this Act.
Rules applicable to the election of the panel for the first banking Directors.
6.—Every representative may nominate six candidates and no more for election.
7.—The election shall be by rounds and on each round every representative shall have six votes but may not, in any one round, give more than one vote to any one candidate.
8.—On the first round, all the candidates shall be voted on and, subject to Rules Nos. 11 and 12 of these Rules, any candidate who on such round receives a number of votes exceeding half the number of representatives present shall be elected and the six (or such lesser number as the chairman shall fix) candidates who receive the least number of votes shall be eliminated.
9.—On the second round, all the candidates except those elected or eliminated on the first round shall be voted on and, subject to Rules Nos. 11 and 12 of these Rules, any candidate who on such round receives a number of votes exceeding half the number of representatives present shall be elected and the six (or such lesser number as the chairman shall fix) candidates who receive the least number of votes shall be eliminated.
10.—The third and every subsequent round shall be conducted in a similar manner.
11.—If on any round, by reason of an equality of votes amongst the candidates who receive the least number of votes, it is not possible to eliminate six (or the lesser number fixed by the chairman) of the candidates, the chairman shall determine how many and which candidates are to be eliminated on that round.
12.—If on any round a greater number of candidates than the number required to be elected receive a number of votes exceeding half the number of representatives present, the chairman shall determine how many candidates, if any, shall be elected on that round
13.—The election shall be continued until the full panel of six persons has been elected.
Rules applicable to the election of the panel for banking Directors other than the first such Directors.
14.—Where a panel of three persons is to be elected, the foregoing Rules Nos. 6 to 13 (inclusive) shall apply and have effect as if they were here repeated with the substitution of the number “three” for the number “six” wherever the latter number is mentioned in those Rules.
15.—Where a panel of five persons is to be elected, the foregoing Rules Nos. 6 to 13 (inclusive) shall apply and have effect as if they were here repeated with the substitution of the number “five”for the number “six” wherever the latter number is mentioned in those Rules.
16.—Where a panel of six persons is to be elected, the foregoing Rules Nos. 6 to 13 (inclusive) shall apply and have effect as if they were here repeated without modification.
THIRD SCHEDULE. Maximum Amounts Of Consolidated Bank Notes Which May Be Outstanding With The Associated Banks Respectively.
Maximum Amounts Of Consolidated Bank Notes Which May Be Outstanding With The Associated Banks Respectively.
Maximum Amount Of Consolidated Bank Notes
Maximum Amount Of Consolidated Bank Notes
Ref. No.
Ref. No.
Name of Associated Bank
Name of Associated Bank
In the period from the day after the date of the passing of this Act to the 31st December, 1944
In the period from the day after the date of the passing of this Act to the 31st December, 1944
In the triennial period ending on 31st December, 1947
In the triennial period ending on 31st December, 1947
In the triennial period ending on 31st December, 1950
In the triennial period ending on 31st December, 1950
In the triennial period ending on 31st December, 1953
In the triennial period ending on 31st December, 1953
(1)
(1)
(2)
(2)
(3)
(3)
(4)
(4)
(5)
(5)
(6)
(6)
£
£
£
£
£
£
£
£
1
1
The Bank of Ireland.
The Bank of Ireland.
1,286,000
1,286,000
965,000
965,000
643,000
643,000
322,000
322,000
2
2
The Hibernian Bank, Limited.
The Hibernian Bank, Limited.
550,000
550,000
413,000
413,000
275,000
275,000
138,000
138,000
3
3
The Munster & Leinster Bank, Limited.
The Munster & Leinster Bank, Limited.
900,000
900,000
675,000
675,000
450,000
450,000
225,000
225,000
4
4
The National Bank, Limited.
The National Bank, Limited.
1,141,000
1,141,000
856,000
856,000
571,000
571,000
286,000
286,000
5
5
The Northern Bank, Limited.
The Northern Bank, Limited.
160,000
160,000
120,000
120,000
80,000
80,000
40,000
40,000
6
6
The Provincial Bank of Ireland, Limited.
The Provincial Bank of Ireland, Limited.
555,000
555,000
417,000
417,000
278,000
278,000
139,000
139,000
7
7
The Royal Bank of Ireland, Limited.
The Royal Bank of Ireland, Limited.
273,000
273,000
205,000
205,000
137,000
137,000
69,000
69,000
8
8
The Ulster Bank, Limited.
The Ulster Bank, Limited.
319,000
319,000
240,000
240,000
160,000
160,000
80,000
80,000