Central Bank Act , 1942

61B.—(1) If the effect of an order made by the Minister under this Act has not become spent, the Minister may, after consulting the Bank, by further order, amend or revoke the order.

(2) For the purpose of subsection (1), "amend" includes add to, substitute and delete.]

61C. F769[Regulations and orders to be laid before each House of Oireachtas.

61C.—The Minister shall arrange for every regulation made byF770[the Government, the Minister or the Bank], and every order made by the Government or the Minister, under this Act to be laid before each House of the Oireachtas as soon as practicable after it is made.]

61D. F771[House of Oireachtas may annul regulation or order.

61D.—(1) Either House of the Oireachtas may, by resolution passed within 21 sitting days after the day on which a regulation or order was laid before it in accordance with section 61C, annul the regulation or order.

(2) The annulment of such a regulation or order takes effect immediately on the passing of the resolution concerned, but does not affect anything that was done under the regulation or order before the passing of that resolution.]

61DA. F772[Prosecution of offences.

61DA.—Proceedings for an offence under this Act, a designated enactment or a designated statutory instrument may be brought and prosecuted summarily by the Bank.]

PART IX. Miscellaneous.

61E. F773[Bank and certain other persons required to consult.

61E.—(1) This section applies to the following persons:

(a) the Bank;

(b) any delegate of the Bank;

(c) the Pensions Board;

(d)F774[…]

(e) the Competition Authority;

(f) the Registrar of Friendly Societies;

(g) the Director of Corporate Enforcement;

F775[(ga)F776[…]

(gb)F777[…]]

F778[(gc) the Financial Services and Pensions Ombudsman;]

(h) any person whom the Minister (after consultation with the person) designates in writingfor the purposes of thisF779[section,]

F775[(i) any body established by or under an enactment for the purpose of supervising the conduct of auditors.]

(2) The persons to whom this section applies shall, whenever the occasion requires, consult with each other for the purpose of ensuring the establishment and pursuit of consistent policies regarding the regulation of financial services in the State.

(3) Nothing in this section authorises a person to whom this section applies to contravene section 33AK or any provision of a law that imposes an obligation of confidentiality on the person.]

61F. F780[Expenses incurred by Minister in administering this Act.

61F.—The expenses incurred by the Minister in administering this Act are payable out of money provided by the Oireachtas.]

61G. F781[How the Bank may give or serve notices and other documents.

61G.—(1) If a provision of this Act or the regulations, or a provision ofF782[a designated enactment, a designated statutory instrument or theFinance (Provision of Access to Cash Infrastructure) Act 2025(in so far as that Act is not a designated enactment)], requires or authorises the BankF783[…]to give or serve a notice or other document, the notice or other document may be given or served—

(a) in the case of a natural person—

(i) by delivering the notice or other document to the person personally, or

(ii) by leaving the notice or other document at, or by sending it by prepaid post to, the person’s residential or businessaddress last known to the BankF784[…],

or

F782[(b) in the case of a body corporate—

(i) by leaving the notice or other document at, or

(ii) by sending it by prepaid post to,

the head office, a registered office or a principal office of the body corporate, or]

(c) in the case of a partnership—

(i) by delivering the notice or other document to one of the partners personally, or

(ii) by leaving the notice or other document at, or by sending it by prepaid post to the head office or a principal office of the partnership.

(2) Nothing in this section limits the operation of any provision of any law that requires or authorises a notice or other document to be given or served in a manner not provided for by this section.

(3) The regulations may—

(a) enable the BankF785[…]to give or serve notices or other documents, or any specified class of notices or other documents, by a method other than one specified in subsection (1), and

(b) provide for a notice or document of a specified class to be given or served only in the manner prescribed by the regulations.]

61H. F786[Arrangements for collection of certain levies.

61H.—(1) The Bank may enter into an arrangement with a prescribed body in relation to the collection of a levy.

(2) An arrangement referred to in subsection (1) is to be for the purpose of enabling the Bank or prescribed body to collect the relevant levy from each person or body obliged to pay it and pay the collected levy to the entity entitled to receive it.

(3) An arrangement referred to in subsection (1) shall provide for the costs associated with the collection of the levy concerned to be met by the entity entitled to receive the levy.

(4) In this section—

"levy" means a levy imposed under section 32D or any other enactment;

"prescribed body" means the following:

(a) the Pensions Board;

F787[(b) the Financial Services and Pensions Ombudsman,]

F788[(c) the Competition and Consumer Protection Commission;]

F789[(ca) the Credit Union Restructuring Board;]

(d) any other body prescribed by the Minister by regulations made for the purposes of this section.]

62. Winding-up of the note reserve fund and establishment of the currency reserve.

62.—(1)As soon as may be after the passing of this Act and in any event not later than one month after such passing, the note reserve fund shall be wound up and for that purpose the following provisions shall have effect, that is to say:—

(a)there shall be established in the general fund an account to be called the currency reserve;

(b)out of the assets of the note reserve fund there shall be transferred to the legal tender note fund such assets (not exceeding two hundred thousand pounds in total value at the market prices current at the time of the transfer) as the Commission shall think proper;

(c)the assets transferred to the legal tender note fund in pursuance of the next preceding paragraph of this sub-section shall be applied in writing down in the books of that fund to such extent as the Commission shall think proper the values in such books of such of the assets of the said fund as the Commission shall think proper;

(d)the assets of the note reserve fund (other than those assets transferred to the legal tender note fund under the foregoing provisions of this section) shall be transferred to the general fund and the amount thereof shall be placed to the credit of the currency reserve;

(e)from and after the winding-up of the note reserve fund in pursuance of this section, the transfers required by sub-section (7) of section 61 (as amended by this Act) of the Currency Act to be made from or to the legal tender note fund to or from the note reserve fund shall be made from or to the legal tender note fund to or from the currency reserve in the general fund.

(2)If the winding-up of the note reserve fund in pursuance of the foregoing sub-section of this section takes place on or after the appointed day, every mention in that sub-section of the Commission shall be construed and have effect as a mention of the Board.

(3)Section 50 and sub-section (7) of section 58 of the Currency Act are hereby amended, as from the completion of the winding-up of the note reserve fund, by the substitution of the expression “currency reserve” for the expression “note reserve fund” wherever the latter expression occurs in the said section 50 and the said sub-section (7) respectively.

(4)F791[…].

63. Amendment of section 61 of the Currency Act.

63.—F792[…]

64. Amendment of section 3 of the Currency (Amendment) Act, 1930.

64.—F793[…]

65. Power of Bank to obtain information as to hire-purchase businesses.

65.—(1)It shall be lawful for the Bank to obtain from—

(a)any person who by way of trade sells goods on the terms commonly called hire-purchase or on any other terms under which the price (with or without an additional sum for interest) is payable by instalments, or

(b)any person who carries on the business of financing (whether by loan, guarantee, or otherwise) the sale of goods on any of the terms mentioned in the foregoing paragraph of this section,

all such information in relation to the said trade or business (as the case may be) carried on by such person as shall appear to the Board to be necessary or desirable, and it shall be lawful for the Bank, for the purpose of obtaining such information, to serve on any such person a notice in writing requiring him to furnish in writing to the Bank such information (which shall be specified in the notice) either within a specified time not less than fourteen days after the service of the notice or periodically at intervals of not less than three months.

F794[(2)(a)It shall be the duty of every person on whom a notice is served by the Bank under subsection (1) of this section to comply with such notice within the time or on the periodic occasions (as the case may be) specified in such notice, and if he fails so to do, he shall be guilty of an offence under this section and shall be liable, on summary conviction, to a fine not exceeding£1,000.

(b)Where a person has been convicted of an offence by virtue of paragraph (a) of this subsection and, after the conviction, the failure to comply continues, the person shall be guilty of contravening this section on every day on which the contravention continues after that conviction and for each such offence he shall be liable on summary conviction to a fine not exceeding£100.]

(3)A notice served by the Bank under this section on any person may be so served by sending it by prepaid post addressed to such person at his place of business or, where he has more than one such place, the place which appears to the Board to be his principal place of business within the State or, where such person is a limited company incorporated in the State, at the registered office of such company

66. Amendment of the Bills of Exchange Act, 1882, in respect of banker’s drafts.

66.—F795[…]

67. Legalisation of bank deposit as a trustee investment.

67.—F796[…]

68. Amendment of section 22 of the Bankers (Ireland) Act, 1845.

68.—So much of section 22 of the Bankers (Ireland) Act, 1845, (as adapted by or under subsequent enactments) as requires the Revenue Commissioners to publish in the Iris Oifigiúil returns made to them under that section shall cease to have effect on the passing of this Act.