Central Bank Act, 1989.
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Appeal to High Court against refusal, etc., of Bank. |
86.—(1) Where the Bank communicates with an undertaking concerned in accordance with section 85 that it— | |
(a) refuses to give its approval, or | ||
(b) gives its approval subject to conditions, | ||
an appeal on a point of law may be made by the undertaking to the Court against the refusal or approval, as the case may be, within one month of that refusal or approval being so communicated. | ||
(2) Where the Court allows the appeal it shall direct the Bank to make a new decision in accordance with the Court's determination and the Bank shall make its decision within the relevant period beginning on the date of the Court's determination and, in a case to which section 77 relates, consult with the Minister before making its decision. | ||
(3) Where on an appeal under this section the Minister requests to be made a party to the proceedings, the Court shall order that he shall be added as a party. | ||
(4) Where any costs are incurred by the Minister in connection with an appeal under this section, the Court may make such order as it considers just as to the payment of those costs by other parties to the proceedings. | ||
(5) Where the Court is satisfied, because of the nature or the circumstances of the case or otherwise in the interests of justice, that it is desirable, the whole or any part of proceedings under this section may be heard otherwise than in public. | ||
(6) An appeal against a decision of the Court under this section shall not lie to the Supreme Court. | ||
(7) In this section “the Court” means the High Court. |