Central Bank Act 1971

Transfer in the case of property held on bailment.

37

37.—The custody of any document, goods or other property held by the transferor in connection with the business agreed to be transferred as bailee for any other person at any office or branch of the transferor in the State F156[(or, where the relevant transfer order under section 33(1) so provides, inside and outside the State)] shall be transferred or deemed to be transferred to the transferee on the transfer date and the rights and obligations of the transferor under any contract of bailment relating to the document, goods or property shall be transferred or deemed to be transferred on that date to the transferee.

Annotations

Amendments:

F156

Inserted (21.12.2010) by Credit Institutions (Stabilisation) Act 2010 (36/2010), s. 73 and sch. 1 part 3 item 10, S.I. No. 623 of 2010.

Modifications (not altering text):

C50

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:

E135

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.