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Central Bank Act 1971
Power of Bank to require deposits by holders of licences in certain circumstances.
24.—(1) If at any time it should appear to the Bank that it is expedient so to do, the Bank may, with the consent of the Minister, make regulations requiring every holder of a licence to make with the Bank, in addition to the deposit under section 7 of this Act, a deposit (not bearing interest) of an amount specified in the regulations or calculated in a manner specified in the regulations if and whenever after a date specified in the regulations the assets of the holder within the State fall below such proportion in relation to his liabilities within the State as is specified in the regulations, and to maintain such deposit so long as such assets are below the said specified proportion.
(2) Regulations made under this section may prescribe different requirements in respect of different holders of licences.
Annotations
Modifications (not altering text):
C38
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:
E61
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) with transitional provisions by European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014), reg. 161, in effect as per reg. 1.