Central Bank Act 1971
F151[Minister’s power to modify application of section 33A.
33B.—(1) In this section “relevant agreement” has the same meaning as in section 33A.
(2) If the Minister is of the opinion that in a particular case or cases the effect of section 33A is in all the circumstances unduly onerous, or causes unfairness or undue hardship, and that it is appropriate in all the circumstances to do so, he or she may by order provide that, notwithstanding anything in that section, a provision in a relevant agreement that provides for a consequence mentioned or referred to in section 33A(4) has effect to the extent specified in the order.
(3) An order under subsection (2)—
(a) may make provision in relation to the effect of a provision in—
(i) a particular relevant agreement,
(ii) relevant agreements of a particular kind, or
(iii) rights held under a relevant agreement, or relevant agreements of a particular kind, by a particular person or a particular class of persons,
(b) in the case of an order that makes provision in relation to relevant agreements of a particular kind, may specify the kind by reference to any common characteristic of the instruments concerned,
(c) in the case of an order that makes provision in relation to rights held by a particular class of persons, may specify the class by reference to any common characteristic of the persons concerned, and
(d) may be expressed to have retrospective effect to a date falling after 13 December 2010.
(4) If the Minister considers that an order under subsection (2) contains matter that is commercially sensitive, he or she may direct—
(a) that the obligations in relation to the order under section 3(1) of the Statutory Instruments Act 1947 are to be taken to be satisfied by the printing, sending to the institutions mentioned in section 3(1)(a) of that Act, publication and sale of a version of the order from which the commercially sensitive matter is omitted, or
(b) if the preparation of such a version would be impracticable, or would result in the version being seriously misleading, that the order is exempt from the operation of section 3(1) of that Act.
(5) A version of an order prepared in accordance with a direction given by the Minister under subsection (4)(a) shall indicate that matter has been omitted from the version of the order and the general nature of that matter.
(6) A direction given by the Minister under subsection (4) shall be published in Iris Oifigiúil as soon as practicable.
(7) Evidence of a direction given by the Minister under subsection (4) may be given by the production of a copy of Iris Oifigiúil purporting to contain the direction.]
Annotations
Amendments:
F151
Inserted (21.12.2010) by Credit Institutions (Stabilisation) Act 2010 (36/2010), s. 73 and sch. 1 part 3 item 5, S.I. No. 623 of 2010.