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135.—(1) No person shall be compellable to make any payment or do any act—
(a) on a public holiday, or
(b) on a day on which the TARGET system is closed
which that person would not be compellable to make or do on Christmas Day or Good Friday by virtue of any rule of law relating to banking.
(2) Where a person would, apart from this section, be compellable to make any payment or do any act relating to banking on a public holiday or a day on which the TARGET system is closed the obligation to make such payment or to do such act shall be deemed to be complied with if such person makes the payment or does the act concerned on the next day on which he is compellable to make or do it.
(3) In this section—
‘public holiday’ has the same meaning as it has in paragraphs 1 and 2 of the Second Schedule to the
Organisation of Working Time Act, 1997
; and
‘a day on which the TARGET system is closed’ means such day or days as the Governing Council of the European Central Bank from time to time decide to be a day or days on which the Trans-European Automated Real-time Gross settlement Express Transfer system will be closed.”.
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