Central Bank Act 1971

Grant of licences.

9

9.—F37[(1) Subject to sections 9H to 9J, the Bank shall, either—

(a) if it is satisfied that the conditions referred to in sections 9D to 9G have been complied with, take a draft decision to propose to the ECB to grant a licence to a person applying to it for the grant thereof authorising the holder to carry on banking business, or

(b) if it is not so satisfied, reject the application.]

F38[(1A) F39[…]]

(2) F39[…]

(3) F39[…]

(4) An application for a licence shall be in such form and contain such particulars as the Bank may from time to time determine.

(5) The grant of a licence to a person shall not constitute a warranty as to the solvency of the person to whom it is granted and the Bank shall not be liable in respect of any losses incurred through the insolvency or default of a person to whom a licence is granted.

F40[(6) F41[…]]

F42[(7) References (howsoever expressed) in any enactment (including this Act) to a licence granted under this section shall on and after 4 November 2014 be construed as references to a licence granted or deemed to be granted by the ECB under the SSM Regulation on the application therefor under this section.

(8) In this section “enactment” has the same meaning as it has in the Interpretation Act 2005.]

Annotations

Amendments:

F37

Substituted (4.11.2014) by European Union (Single Supervisory Mechanism) Regulations 2014 (S.I. No. 495 of 2014), reg. 12(a), in effect as per reg. 1(2).

F38

Inserted (12.07.1989) by Central Bank Act 1989 (16/1989), s. 32(1)(a), S.I. No. 176 of 1989.

F39

Deleted (31.03.2014) by European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014), reg. 154(1)(d)(ii), in effect as per reg. 1(2).

F40

Inserted (31.03.2014) by European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014), reg. 154(1)(d)(iii), in effect as per reg. 1(2).

F41

Deleted (4.11.2014) by European Union (Single Supervisory Mechanism) Regulations 2014 (S.I. No. 495 of 2014), reg. 12(b), in effect as per reg. 1(2).

F42

Inserted (4.11.2014) by European Union (Single Supervisory Mechanism) Regulations 2014 (S.I. No. 495 of 2014), reg. 12(c), in effect as per reg. 1(2).

Modifications (not altering text):

C19

Application of section restricted (12.07.1989) by Central Bank Act 1989 (16/1989), s. 110(3), S.I. No. 176 of 1989.

Authorisation to carry on moneybroking business.

110. …

(2) Subject to the provisions of this section, the Bank may grant or refuse to grant to any person applying to it an authorisation to carry on moneybroking business.

(3) Notwithstanding subsection (2), a person shall not, at the same time, be the holder of a licence under section 9 of the Act of 1971 and a person to whom a subsisting authorisation under this section relates.

...

Editorial Notes:

E25

Previous affecting provision: subs. (1) amended (31.03.2014) by European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014), reg. 154(1)(d)(i); subsection substituted (4.11.2014) as per F-note above.

E26

Previous affecting provision: subs. (1A) substituted by European Communities (Directive 2006/48/EC) (Central Bank Acts) (Amendment) Regulations 2009 (S.I. No. 512 of 2009), reg. 2(c); subsection deleted (31.03.2014) as per F-note above.

E27

Previous affecting provision: subs. (3) substituted (12.07.1989) by Central Bank Act 1989 (16/1989), s. 32(1)(b); subsection deleted (31.03.2014) as per F-note above.

E28

Previous affecting provision: subs. (3) amended by European Communities (Licensing and Supervision of Banks) Regulations, 1979 (S.I. No. 414 of 1979), regs. 3-5; subsection substituted (12.07.1989) by Central Bank Act 1989 (16/1989), s. 32(1)(b).