S.I. No. 760/2004 - Central Bank and Financial Services Authority of Ireland Act 2004 (Commencement) Order (No. 2) 2004

I, Brian Cowen, Minister for Finance, in exercise of the powers conferred on me by section 1 of the Central Bank and Financial Services Authority of Ireland Act 2004 and section 61B of the Central Bank Act 1942 , hereby make the following order:

Citation

1.      This Order may be cited as the Central Bank and Financial Services Authority of Ireland Act 2004 (Commencement) Order (No. 2) 2004.

Amendment of Schedule to Central Bank and Financial Services Authority of Ireland Act 2004 (Commencement) Order 2004

2.      The Schedule to the Central Bank and Financial Services Authority of Ireland Act 2004 (Commencement) Order 2004 is amended —

(a)    in paragraph (c) of Part 3, by substituting “item.” for “item”;

(b)    in Part 3, by revoking paragraph (d);

(c)    by substituting the following Part for Part 4:

“PART 4

PROVISIONS TO COME INTO OPERATION ON 1 APRIL 2005

The following provisions come into operation on 1 April 2005:

(a)    Chapters 5 and 6 of Part VIIB of the Central Bank Act 1942 , and section 16 in so far as it relates to those Chapters;

(b)    item 1 of Part 14 of Schedule 3 and section 33 in its application to that item.”.

EXPLANATORY NOTE

(This note is not a legal part of the Instrument and does not purport to be a legal interpretation)

This Order changes the commencement date of the new requirements regarding credit union loan agreements from 1 January to 1 April 2005. The requirements are set out in Part 14 of Schedule 3 to the Central Bank and Financial Services Authority of Ireland Act 2004 .