Central Bank Act 1971

Directions by Bank in relation to advertisements of holders of licences.

22

22.—(1) The Bank may give a direction in writing to a holder of a licence F99[or authorisation under section 9A] in relation to the information which the holder shall include in any advertisement to be published by him or on his behalf or in any statement to the public to be made by him or on his behalf.

(2) F100[The Bank may give a direction to a holder of a licence F99[or authorisation under section 9A] to refrain from—

(a) publishing or continuing to publish, or

(b) causing to be published or to be continued to be published, during such period as shall be specified in the direction an advertisement inviting deposits from the public.]

F101[(2A) The Bank may give a direction to a holder of a licence F99[or authorisation under section 9A] to refrain from—

(a) publishing or continuing to publish, or

(b) causing to be published or to be continued to be published,

an advertisement containing information in respect of any service provided or to be provided to the public or any charge, term or condition upon which a service is so provided (or to be so provided) which, in the opinion of the Bank is false, misleading or calculated to deceive.]

(3) The Bank shall not give a direction under this section unless it is satisfied that it is desirable to do so in the interest of the orderly and proper regulation of banking.

F101[(4) In this section:

“advertisement” includes every form of recommendation of any matter to which this section relates including, in particular, the display or publication of any such matter by way of notice, leaflet, circular, pamphlet, brochure, photograph, film, video, sound broadcasting, television, electronic communication or personal canvassing;

“deposits” includes any funds taken from the public and payable on demand or on notice or at a fixed or determinable future date.]

Annotations

Amendments:

F99

Inserted (1.08.2013) by Central Bank (Supervision and Enforcement) Act 2013 (26/2013), s. 5(1) and sch. 2 part 2 item 10, S.I. No. 287 of 2013.

F100

Substituted (12.07.1989) by Central Bank Act 1989 (16/1989), s. 39(a), S.I. No. 176 of 1989.

F101

Inserted (12.07.1989) by Central Bank Act 1989 (16/1989), s. 39(a), (b), S.I. No. 176 of 1989.

Modifications (not altering text):

C35

References construed (31.03.2014) by European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014), reg. 152(a), in effect as per reg. 1(2).

152. Notwithstanding Regulation 7(1), the references, however expressed, to the holder of a licence under section 9 of the Act of 1971, in—

(a) sections 19 to 26, section 28, sections 31 to 42 or section 58 of the Act of 1971,

…

shall be construed so as to include any person who, but for the application of Regulation 7(1), was or would have been required to hold a licence under section 9 of the Act of 1971.

Editorial Notes:

E58

Previous affecting provision: references construed (1.01.1993) by European Communities (Licensing and Supervision of Credit Institutions) Regulations 1992 (S.I. No. 395 of 1992), reg. 38(1)(a)(i), in effect as per reg. 1(2); revoked (31.03.2014) by European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014), reg. 161, in effect as per reg. 1, subject to transitional provisions.