Central Bank Act 1942

22

F123 [ Acting Governor.

22. (1) The Governor may appoint one of the other F124 [ members ] to act as Governor to carry out the designated responsibilities of the Governor s office whenever the Governor is temporarily unable to carry out those responsibilities, whether because of absence or ill-health or for any other reason.

(2) If the Governor fails to make an appointment in the circumstances specified in subsection (1), the other F125 [ members ] may appoint one of them to carry out the designated responsibilities.

F126 [ (3) If the office of Governor becomes vacant, the Commission may appoint another member of the Commission to act as Governor to carry out the designated responsibilities of the Governor during the vacancy. A member so appointed shall not continue to act after the end of 3 months from the occurrence of the vacancy which occasioned his or her appointment.

(4) A member appointed under this section, while acting as Governor, has the designated responsibilities of the office of Governor and also the powers relating to the carrying out of those responsibilities.

(5) A member appointed under this section to act as Governor is entitled to be paid such remuneration (including travelling and subsistence allowances) as the Commission determines from time to time.

(6) A member appointed under this section to act as Governor does not, by reason of that appointment, vacate his or her office as a member.

(7) This section does not apply to responsibilities of the Governor that are required, by virtue of section 22A, to be carried out by the Head of Central Banking in any of the circumstances specified in that section. ]

(8) In this section, designated responsibilities , in relation to the office of Governor, means those responsibilities of the Governor other than those specified in section 19A(1)( a ) and ( b ) and (2). ]

Annotations:

Amendments:

F123

Substituted (1.05.2003) by Central Bank and Financial Services Authority of Ireland Act 2003 (12/2003), s. 17, S.I. No. 160 of 2003, subject to transitional provisions in s. 36 and sch. 3.

F124

Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14(1) and sch. 1, pt. 1, item 32, S.I. No. 469 of 2010.

F125

Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14(1) and sch. 1, pt. 1, item 33, S.I. No. 469 of 2010.

F126

Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14(1) and sch. 1, pt. 1, item 34, S.I. No. 469 of 2010.