S.I. No. 373/1992 - ACC Bank Act, 1992 (Section 4) Regulations, 1992.

S.I. No. 373 of 1992.

ACC BANK ACT, 1992 (SECTION 4) REGULATIONS, 1992.

I, BERTIE AHERN, Minister for Finance, in exercise of the powers conferred on me by section 4 of the ACC Bank Act, 1992 (No. 6 of 1992), after consultation with the Central Bank of Ireland and for the purpose of enabling it to exercise supervision of ACC Bank public limited company, hereby make the following Regulations:

1. (1) These Regulations may be cited as the ACC Bank Act, 1992 (Section 4) Regulations, 1992.

(2) These Regulations shall come into operation on the 1st day of January, 1993.

2. All of the supervisory provisions of—

( a ) Part II of the Central Bank Act, 1971 (No. 24 of 1971), and

( b ) Chapters I to VI of Part II of the Central Bank Act, 1989 (No. 17 of 1989),

shall apply to ACC Bank public limited company as if it were the holder of a licence granted under section 9 of the Central Bank Act, 1971 , and, accordingly, any reference in the said provisions to a "holder" in relation to a licence so granted shall be construed as including a reference to ACC Bank public limited company.

GIVEN under my Official Seal, this 9th day of December, 1992.

BERTIE AHERN,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations enable the Central Bank of Ireland to exercise supervision of ACC Bank plc under the Central Bank Acts, 1942 to 1989, by applying to ACC Bank plc all the supervisory provisions of Part II of the Central Bank Act, 1971 , and Chapters I to VI of Part II of the Central Bank Act, 1989 .