Central Bank Act 1942

F125[Additional powers of Commission.

18D

18D.(1) The Commission has power to do whatever is necessary for or in connection with, or reasonably incidental to, the performance of its functions.

(2) Without prejudice to the generality of subsection (1) and subject to subsection (3), the Commission

(a) may establish committees of the Commission consisting of one or more members of the Commission either solely or together with one or more officers or employees of the Bank F126[or with one or more persons with relevant knowledge of any of the matters specified in section 24(1) (or with both)], and

(b) may determine the procedure and define the functions and powers of such committees.

(3) Subsection (2) does not authorise the Commission to delegate to a committee any function of the Bank that a provision of this Act requires to be performed by the Governor.]

Annotations

Amendments:

F125

Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14(1) and sch. 1, pt. 1, item 28, S.I. No. 469 of 2010.

F126

Inserted (1.08.2013) by Central Bank (Supervision and Enforcement) Act 2013 (26/2013), s. 5 and sch. 2 pt. 1 item 2, S.I. No. 287 of 2013.

Editorial Notes:

E48

Previous affecting provision: section inserted (1.05.2003) by Central Bank and Financial Services Authority of Ireland Act 2003 (12/2003), s. 13, S.I No. 160 of 2003; substituted as per F-note above.