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Economic and Monetary Union Act, 1998

Amendment of Central Bank Act, 1997 .

28.—The Central Bank Act, 1997 , is hereby amended—

(a) in section 10 , by the addition of the following subsection after subsection (2):

“(3) In the performance of any function or duty by the Bank, or the exercise of any power by the Bank, required by or under the Treaty or the Statute, subsections (1) and (2) shall not apply.”,

and

(b) in section 13 , by the insertion of the following subsection after subsection (2):

“(2A) (a) In the performance of any function or duty by the Bank, or the exercise of any power by the Bank, required by or under the Treaty or the Statute, subsections (1)(b) and (2) shall not apply.

(b) In this subsection ‘the Treaty’ and ‘the Statute’ have the same meanings, respectively, as are assigned to them for the purposes of this Act by subsection (2) (inserted by the Central Bank Act, 1998 ) of section 24.”.