Central Bank Act 1971

Provisions in relation to incorporation of banking companies.

15

15.(1) Before the incorporation of a company under the Companies Act, 1963, which, if incorporated, would, in the opinion of the registrar of companies, within the meaning of that Act, be holding itself out as a banker or have as one of its objects in its memorandum of association the carrying on of banking business, the registrar shall notify the Bank of the delivery to him of the memorandum and articles, within the meaning of that Act, of the company and shall not give a certificate of incorporation under that Act in respect of the company unless and until the Bank indicates to the registrar its willingness to grant a licence to the company or to exempt it under section 8 of this Act.

F84[(2) If, on delivery of documents under section 352 of the Companies Act 1963, or under regulation 4 or 7 of the European Communities (Branch Disclosures) Regulations 1993 (S.I. No. 395 of 1993), it appears to the registrar of companies that the company to which those documents relate—

(a) would be holding itself out as carrying on business as a banker in the State, or

(b) would have as one of its objects in its memorandum of association the carrying on of banking business in the State,

the registrar shall give the Bank written notice of the matter.]

(3) Whenever the registrar of companies is given notice of an alteration in any instrument constituting or defining the constitution of any company, he shall inform the Bank as soon as may be of the alteration if, in the opinion of the registrar, the company would, by virtue of the alteration, be holding itself out as a banker or have as one of its objects the carrying on of banking business.

Annotations

Amendments:

F84

Substituted (1.08.2004) by Central Bank and Financial Services Authority of Ireland Act 2004 (21/2004), s. 33 and sch. 3 part 4 para. 4, S.I. No. 455 of 2004.

Modifications (not altering text):

C21

Application restricted (28.07.2014) by Strategic Banking Corporation of Ireland Act 2014 (22/2014), s. 5(6), S.I. No. 359 of 2014.

Formation of Strategic Banking Corporation of Ireland

5. …

(6) Sections 7 (1), 8 and 15 of the Central Bank Act 1971 do not apply to the SBCI or a person who acts on behalf of the SBCI.

C22

Certain exemptions relating to “TSB” and “TSB Bank” provided for by Trustee Savings Bank Act 1989 (21/1989), s. 57(11), S.I. No. 21 of 1990, as substituted (28.03.2001) by Trustee Savings Banks (Amendment) Act 2001, s. 1, commenced on enactment.

[57.— …

(11) An order may authorise the relevant company, a banking company and any subsidiary thereof to include within its name, or use in connection with its business, “TSB” or “TSB Bank” on such conditions as may, after consultation with the Central Bank, be specified in the order, and section 14 of this Act and sections 15 and 16 of the Central Bank Act, 1971, shall not apply in relation to the use of “TSB” or “TSB Bank” by the relevant company, the banking company or any such subsidiary if an order grants such authorisation.

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