Central Bank Act, 1989.
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Chapter II General Provisions Relating to the Bank | ||
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Additional powers and functions of Bank. |
12.—(1) The repeal of the Currency Act, 1927 , by section 4 shall not affect any function, power or duty exercisable by the Bank by virtue of section 6 (1) of the Principal Act. | |
(2) For the avoidance of doubt it is hereby declared that the powers and functions exercisable by virtue of section 47 of the Act of 1971 include the powers— | ||
(a) to acquire, hold, sell, assign or otherwise deal in securities or any other property, | ||
(b) to extend loans and advances, and | ||
(c) to give guarantees and make payments on foot of such guarantees. | ||
(3) The Bank shall, for the purpose of— | ||
(a) the protection of the interests of persons, or any class thereof, maintaining deposits with any other person in respect of which the business of that other person is supervised by the Bank, or | ||
(b) the orderly and proper regulation of the business of any person in respect of which he is so supervised, | ||
have the following powers, where they are not already exercisable by the Bank, that is to say the powers— | ||
(i) to acquire, hold, sell, assign or otherwise deal in securities or any other property, | ||
(ii) to extend loans and advances, and | ||
(iii) to give guarantees and make payments on foot of such guarantees. |