BANK ACT, 1964

Amendment of section 7 (1) (h) of Central Bank Act, 1942.

Amendment of section 7 (1) (h) of Central Bank Act, 1942.

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1.—Paragraph, (h) of subsection (1) of section 7 of the Central Bank Act, 1942, is hereby amended by the addition after “country” of “or securities of any international bank or international financial institution, being a bank or institution formed wholly or mainly by Governments”.

Provisions relative to Houses of Oireachtas.

Provisions relative to Houses of Oireachtas.

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2.—(1) Where the Governor or a Director of the Central Bank of Ireland is nominated, with his consent, as a candidate for election to either House of the Oireachtas or is nominated as a member of Seanad Éireann, he shall thereupon cease to be such Governor or Director.

(2) A person who is for the time being entitled under the Standing Orders of either House of the Oireachtas to sit therein shall, while so entitled, be disqualified from being or becoming the Governor or a Director of the Central Bank of Ireland.

Repeals.

Repeals.

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3.—The following portions of the Central Bank Act, 1942, are hereby repealed

(i) the words “(not bearing interest)” in paragraph (b) of subsection (1) of section 7;

(ii) paragraph (a) of subsection (4) of section 19;

(iii) subsection (6) of section 23.

Short title and collective citation.

Short title and collective citation.

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4.—(1) This Act may be cited as the Central Bank Act, 1964.

(2) The Currency and Central Bank Acts, 1927 to 1961, and this Act may be cited together as the Currency and Central Bank Acts, 1927 to 1964.