Central Bank Act 1942

6

F73 [ Bank to perform functions of European System of Central Banks.

6. (1) The Bank shall perform all functions imposed, and exercise all powers conferred, on the Bank by or under the Rome Treaty or the ESCB Statute.

F74 [ (1A) Nothing in the Central Bank Acts 1942 to 2010 affects the independence of the Bank, the Governor and the Commission required by the Rome Treaty and the ESCB Statute.

(1B) Without limiting the generality of subsection (1A), nothing in the Central Bank Acts 1942 to 2010 authorises any person or authority to give any direction to, or require any action (including the provision of information) by, the Bank, the Governor or the Commission if compliance by the Bank, the Governor or the Commission (as the case may be) with the direction or requirement would be inconsistent with the Rome Treaty or the ESCB Statute. ]

(2) This section is subject to section 19A.

(3) Section 9 of the Ministers and Secretaries Act 1924 does not apply to the Bank. ]

Annotations:

Amendments:

F73

Substituted (1.05.2003) by Central Bank and Financial Services Authority of Ireland Act 2003 (12/2003), s. 6, S.I. No. 160 of 2003, subject to transitional provisions in s. 36 and sch. 3.

F74

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

Editorial Notes:

E31

Previous affecting provision: section substituted (23.05.1998) by Central Bank Act 1998 (2/1998), s. 5, S.I. No. 338 of 2002; substituted as per F-note above.