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S.I. No. 283/1991 - Central Bank Act, 1971 (Approval of Scheme of Abn Amro Bank (Ireland) Limited and Abn Amro Bank Nv) Order, 1991.

S.I. No. 283 of 1991.

CENTRAL BANK ACT, 1971 (APPROVAL OF SCHEME OF ABN AMRO BANK (IRELAND) LIMITED AND ABN AMRO BANK NV) ORDER, 1991.

WHEREAS ABN AMRO Bank (Ireland) Limited (in the following Order referred to as the Transferor) whose registered office is at 121/122 St. Stephen's Green, Dublin 2, and being the holder of a licence, has agreed with ABN AMRO Bank N.V. (in the following Order referred to as the Transferee), incorporated in the Netherlands and having its registered office at Foppingadreef 22, 1102 BS Amsterdam, Zuidoost, the Netherlands, and being the holder of a licence, to transfer to the Transferee certain business to which the licence of the Transferor relates:

AND WHEREAS on the 30th day of September 1991, the Transferor and the Transferee submitted to the Minister for his approval a scheme for the transfer (in the following Order referred to as the Scheme) made by the Transferor and the Transferee on the 30th day of September, 1991:

NOW I, ALBERT REYNOLDS, Minister for Finance, after consultation with the Central Bank, and in respect of Articles 4 to 7 of this Order, at the request of the Transferor and the Transferee, hereby, in exercise of the powers conferred on me by section 33 of the Central Bank Act, 1971 (No. 24 of 1971), order as follows:

1. This Order may be cited as the Central Bank Act, 1971 (Approval of Scheme of ABN AMRO Bank (Ireland) Limited and ABN AMRO Bank N.V.) Order, 1991.

2. In this Order—

"the Minister" means the Minister for Finance;

"the Scheme" means the scheme submitted to the Minister for his approval by the Transferor and the Transferee pursuant to section 33 of the Central Bank Act, 1971 , and to the agreement between them dated the 30th day of September, 1991;

"the transfer date" means the 1st day of February, 1992, or such later date as the Transferor and the Transferee may agree in writing;

"the Transferee" means ABN AMRO Bank N.V.;

"the Transferor" means ABN AMRO Bank (Ireland) Limited;

3. The Scheme is hereby approved of.

4. All books and other documents which would before the transfer date have been evidence in respect of any matter for or against the Transferor shall be admitted in evidence in respect of the same matter for or against the Transferree from the transfer date.

5. From the transfer date:

(a) The Bankers' Books Evidence Acts, 1879 and 1959, shall continue to apply with respect to any books of the Transferor transferred to the Transferee in connection with the banking business agreed to be transferred and to entries made in those books before the transfer date as if such books were the books of the Transferee.

(b) For the purpose of section 4 of the Bankers' Books Evidence Act, 1879, any book to which that Act applies by virtue of subparagraph (a) of this paragraph shall, on being proved to be in custody of the Transferee, be deemed to be one of the ordinary books of the Transferee and any entry therein purporting to have been made before the transfer date shall be deemed to have been made in the ordinary course of business.

(c) In this paragraph "books" has the same meaning as "bankers' books" in the Bankers' Books Evidence Act, 1879.

6. (a) In respect of the business agreed to be transferred, the Transferor shall, at the request of the Transferee, execute all instruments and do all such acts as may be necessary to transfer the property vested immediately before the transfer date in the Transferor as trustee, executor, guardian or in any other fiduciary capacity (as the case may be) to, and vest the same in, the Transferee in the same capacity upon the trusts and with and subject to the powers, provisions, liabilities and obligations applicable thereto respectively.

(b) The Transferee shall be entitled to remuneration and to act as trustee, executor, guardian or in any other fiduciary capacity (as the case may be) at the same scale of fees and upon and subject to the same terms and conditions as were applicable to the Transferor immediately before the transfer date.

7. Any contract of guarantee, indemnity or other contract or suretyship undertaken by the Transferor with any person in the course of or incidential to the banking business of the Transferor agreed to be transferred shall be transferred or deemed to have been transferred to the Transferee on the transfer date and shall become from the date a contract between the Transferee and that person with the same rights and subject to the same obligations and incidents (including rights of set-off) as would have been applicable thereto if such contract between the Transferor and such person had continued and any order, instruction, direction, mandate or authority given, whether before, on or after that date, by that person shall apply and have effect after the transfer of such contract to the Transferee as aforesaid and any moneys due and owing by such person to the Transferor at that date under or by virtue of any such contract shall become due and payable by that person to the Transferee instead of the Transferor.

GIVEN under my Official Seal, this 6th day of November 1991.

ALBERT REYNOLDS,

Minister for Finance.

EXPLANATORY NOTE.

This Order approves the transfer of part of the banking business of ABN AMRO BANK (Ireland) Limited to ABN AMRO Bank N.V. in accordance with a transfer scheme submitted by both banks. The effect of the Order is that sections 34 to 39 and 42 of the Central Bank Act, 1971 will apply to the transfer. The Order also makes provision for matters arising from and incidental to the transfer.