Building Societies Act, 1989

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Interpretation.

2.—(1) In this Act, unless the context otherwise requires—

“Act of 1963” means the Companies Act, 1963 ;

“Act of 1971” means the Central Bank Act, 1971 ;

“alteration”, in relation to the memorandum or rules of a building society, includes any addition to or variation of the memorandum or rules, the rescission of any provision of the memorandum or rules, whether with or without the substitution of one or more than one provision in the memorandum or rules for any provision so rescinded, and cognate words shall be construed accordingly;

“adoptable powers” means powers which, under any provision of this Act, must, in order to be exercisable, be adopted by the society and “adopt” or “adopted” means adopt or adopted by agreement on the formation of the society or subsequently by a special resolution;

“the annual accounts” has the meaning assigned to it by section 77 ;

“associated body” means a body in which the society holds shares or corresponding membership rights under section 28 ;

“authorisation” means authorisation under section 17 ;

“bank” means the holder of a licence under section 9 of the Act of 1971;

“building society” means a building society incorporated or deemed by section 124 (2) to be incorporated under this Act;

“Central Bank” means the Central Bank of Ireland;

“commission” includes any gift, bonus, fee, payment or other benefit;

“the Companies Acts” means the Companies Act, 1963 and every enactment which is to be construed with it as one Act;

“contravention” includes failure to comply;

“conversion resolution” has the meaning assigned to it by section 71 ;

“Court” means the High Court;

“deposit” includes loan and cognate expressions shall be construed accordingly;

“dispose” and “disposition”, in relation to any property, include the granting of any interest in or right over it;

“director” includes any person occupying the position of director, by whatever name called;

“functions” includes powers and duties;

“house” includes any building or part of a building used or suitable for use as a dwelling and any outoffice, yard, garden, or other land appurtenant thereto or usually enjoyed therewith and “housing” shall be construed accordingly;

“housing loan” means a loan within the meaning of section 22 ;

“member”, in relation to a society, means a member within the meaning of section 16 ;

“Minister” means the Minister for the Environment;

“mortgage” includes charge;

“officer”, in relation to a building society or other body corporate, means a director, chief executive or secretary, by whatever name called, and, in relation to any offence, also includes any person who purports to act as an officer of the body;

“prescribed” means prescribed by regulations made under this Act;

“the public file”, in relation to a building society, has the meaning assigned to it by section 122 ;

“repealed enactments” means the enactments repealed by section 6 ;

“society” means a building society;

“special resolution” has the meaning assigned to it by section 70 ;

“subsidiary” has the same meaning as it has in the Companies Acts;

“summary financial statement” has the meaning assigned to it by section 79 .

(2) In this Act in any reference to a person's shareholding in a society the value of the person's shares shall be taken as the amount standing to his credit in respect of payments made by him on the shares and interest credited to them by way of capitalisation.

(3) In this Act a reference to a Part, section, or Schedule is to a Part, section, or Schedule of this Act, unless it is indicated that reference to some other enactment is intended.

(4) In this Act a reference to a subsection, paragraph or subparagraph, is to the subsection, paragraph or subparagraph of the provision in which the reference occurs, unless it is indicated that reference to some other provision is intended.

(5) In this Act a reference to an enactment shall be construed as a reference to that enactment as amended, adapted or extended by or under any subsequent enactment including this Act or regulations made under this Act.

(6) In this Act a reference to any provision of this Act shall, where appropriate, be construed as a reference to that provision as modified by regulation.