Central Bank Act 1942

21

F121 [ Removal of Governor from office.

21. (1) The President may, on the advice of the Government, remove the Governor from office on the ground that the Governor has, because of ill-health, become permanently incapacitated from carrying out the responsibilities of Governor.

(2) The President may, on the advice of the Government, remove the Governor from office F122 [ ] on one or more specified grounds of serious misconduct.

(3) A decision of the President removing a Governor from office under this section takes immediate effect from the date on which the decision is notified to the Governor or the date on which the decision is first published, whichever date first occurs.

(4) A decision of the President removing a Governor from office under this section can be referred to the European Court of Justice in such manner and on grounds consistent with Article 14.2 of the ESCB Statute. ]

Annotations:

Amendments:

F121

Substituted (1.05.2003) by Central Bank and Financial Services Authority of Ireland Act 2003 (12/2003), s. 16, S.I. No. 160 of 2003, subject to transitional provisions in s. 36 and sch. 3.

F122

Deleted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14(1) and sch. 1, pt.1, item 31, S.I. No. 469 of 2010.

Editorial Notes:

E51

Previous affecting provision: subs. (2) amended and (3) inserted (23.05.1998) by Central Bank Act 1998 (2/1998), s. 7, S.I. No. 338 of 2002; substituted as per F-note above.