Strategic Banking Corporation of Ireland Act 2014


Disapplication of certain sections of Companies Acts

22. The following provisions of the Companies Acts shall be disapplied to the SBCI:

(a) section 60(1) of the Companies Act 1963 (the prohibition on providing financial assistance in connection with a purchase or subscription for shares in the SBCI);

(b) the presumption in section 26(6) of the Companies Act 1990 that a sole member of a single member company is a connected person;

(c) Part IV of the Companies Act 1990 (the requirement to disclose interests in shares to the SBCI).