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Provisions in relation to property of trustee savings banks and legal proceedings.
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23.—(1) The property of a trustee savings bank shall stand vested in the trustees for the time being of the bank.
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(2) The trustees of a trustee savings bank may sue and be sued by the name “the trustees of the — Trustee Savings Bank” or “the trustees of the — Savings Bank”, as may be appropriate, and, in legal proceedings concerning any property of the bank, the property may be stated to be the property of the trustees of the bank.
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(3) Property of a trustee savings bank may be and stand vested in the trustees of the bank under the description “the trustees of the — Trustee Savings Bank” or “the trustees of the — Savings Bank” and it shall not be necessary, for the purpose of such vesting, to state in the document concerned or in any document relating to the property of the bank the names or descriptions of the individual trustees.
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(4) A document which, but for this subsection, would fall to be executed by one or more of the trustees of a trustee savings bank in their capacity as such trustees may be executed by an officer of the bank, duly authorised in that behalf by the trustees of the bank, by his affixing thereto the seal of the bank and authenticating the seal by his signature.
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(5) The affidavit referred to in section 6, as amended, of the Judgment Mortgage (Ireland) Act, 1850, may, in a case in which a trustee savings bank is a creditor under a judgment, decree, order or rule referred to in that section, be made and filed in accordance with that section by the secretary or other officer or the law agent of the bank duly authorised in that behalf by the bank.
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(6) The trustees of a trustee savings bank shall not purchase, lease, sell or exchange buildings or other land or erect buildings or incur other expenditure of a capital nature on the doing of work to buildings or other land of the bank without the consent of the Central Bank (which may be either general or limited to a particular transaction) and, for the purposes of the title of a person to property bought or leased from or the subject of an exchange with the trustees of a trustee savings bank, the Central Bank shall be deemed to have given its consent to the purchase, lease, sale or exchange by the trustees.
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