Icc Bank Act, 1992

• Jurisdiction: Ireland
• Citation: IR No. 21/1992

Number 21 of 1992
ICC BANK ACT, 1992
ARRANGEMENT OF SECTIONS
Section 1. Definitions. 2. ICC Bank p.l.c. 3. Supervision of Company by Central Bank. 4. Objects of Company. 5. Increase in borrowing powers of Company. 6. Alteration of memorandum and articles of association of Company. 7. Amendment of section 9 of Bankers' Books Evidence Act, 1879, and of section 2 of Bills of Exchange Act, 1882 8. Short title, collective citation and construction.
Acts Referred to ACC Bank Act, 1992 1992, No. 6 Bankers' Books Evidence Act, 1879 42 & 43 Vict., c. 11 Bankers' Books Evidence (Amendment) Act, 1959 1959, No. 21 Bills of Exchange Act, 1882 45 & 46 Vict., c. 61 Building Societies Act, 1989 1989, No. 17 Central Bank Act, 1971 1971, No. 24 Central Bank Act, 1989 1989, No. 16 Central Bank Acts, 1942 to 1989 Companies Acts, 1963 to 1990 Industrial Credit Act, 1933 1933, No. 25 Industrial Credit (Amendment) Act, 1971 1971, No. 9 Industrial Credit (Amendment) Act, 1990 1990, No. 15
Number 21 of 1992
ICC BANK ACT, 1992
AN ACT TO AMEND AND EXTEND THE INDUSTRIAL CREDIT ACTS, 1933 TO 1990, AND FOR THOSE PURPOSES TO AMEND SECTION 9 OF THE BANKERS' BOOKS EVIDENCE ACT, 1879 , AND SECTION 2 OF THE BILLS OF EXCHANGE ACT, 1882 , AND TO PROVIDE FOR CONNECTED MATTERS. [23rd July, 1992]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:
	Definitions.	1.—In this Act—
	“the Act of 1971” means the Industrial Credit (Amendment) Act, 1971 ;
	“the Central Bank” means the Central Bank of Ireland;
	“the Company” means ICC Bank public limited company;
	“the Principal Act” means the Industrial Credit Act, 1933 .
	ICC Bank p.l.c.	2.—(1) The Industrial Credit Corporation public limited company (re-registered as a public limited company under the Companies Acts, 1963 to 1990, by a certificate of incorporation dated the 21st day of November, 1984) shall, upon the passing of this Act, be known as ICC Bank public limited company.
	(2) References in any Act or any instrument made under any Act to the Industrial Credit Corporation public limited company or to the Industrial Credit Company, Limited shall be construed as references to ICC Bank public limited company.
	Supervision of Company by Central Bank.	3.—(1) Notwithstanding section 7 (4) (inserted by section 30 of the Central Bank Act, 1989 ) of the Central Bank Act, 1971 , the Minister, after consultation with the Central Bank, for the purpose of enabling the Central Bank to exercise supervision of the Company under the Central Bank Acts, 1942 to 1989, may by regulations apply to the Company all or any of the supervisory provisions of Part II of the Central Bank Act, 1971 , or Chapters I to VI of Part II of the Central Bank Act, 1989 , with such modifications or adaptations as he considers necessary.
	(2) Every regulation made under this section shall be laid beforeeach House of the Oireachtas as soon as may be after it is made and, if a resolution annulling the regulation is passed by either House within the next 21 days on which that House has sat after the regulation has been laid before it, the regulation shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.
	Objects of Company.	4.—Paragraph 2 of the Schedule to the Principal Act, is hereby amended by the substitution for subparagraph (c) (inserted by section 3 of the Act of 1971) of the following subparagraph:
	“(c) that the principal objects of the Company shall include—
	(i) (I) lending and advancing money,
	(II) acquiring, underwriting, holding, selling and otherwise dealing with, shares, stocks, debentures, debenture stocks and other securities of any body corporate,
	(III) drawing, accepting, endorsing, discounting, purchasing and otherwise dealing with, bills of exchange, promissory notes and other negotiable instruments,
	(IV) providing such other banking, financial or credit services and engaging in such banking or financial transactions as it thinks proper (including giving guarantees...