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Ireland

Exchange Control Act, 1954

I gCúrsaí Gearra

Is éard atá sa dlí seo ná an tAcht um Rialú Malairte, 1954, a thugann cumhachtaí agus a fhorchuireann dualgais agus srianta maidir le hór, airgeadra, íocaíochtaí, urrúis, fiacha, agus allmhairiú, easpórtáil agus aistriú maoine. Tá sé ceaptha chun rialú a dhéanamh ar idirbhearta airgeadais idir an Stát agus críocha lasmuigh de na críocha sceidealta.

Cad a Rialálann sé

  • Déileáil in ór agus in airgeadra eachtrach.
  • Srianta ar íocaíochtaí le daoine atá ina gcónaí laistigh agus lasmuigh de na críocha sceidealta.
  • Eisiúint agus aistriú urrús, blianachtaí, agus polasaithe árachais.
  • Srianta ar allmhairiú agus easpórtáil earraí agus íocaíocht as easpórtálacha.

Cé dó a Bhaineann sé

  • Daoine aonair agus eintitis atá ag déileáil in ór nó in airgeadra eachtrach.
  • Daoine a dhéanann íocaíochtaí le daoine atá ina gcónaí lasmuigh de na críocha sceidealta nó a fhaigheann íocaíochtaí uathu.
  • Daoine a bhaineann le heisiúint nó aistriú urrús, blianachtaí, nó polasaithe árachais.

Príomhphointí

  • Ní féidir le duine, seachas déileálaí údaraithe, ór nó airgeadra eachtrach a cheannach nó a fháil ar iasacht ó dhuine ar bith eile seachas déileálaí údaraithe, ach amháin le cead ón Aire.
  • Ní féidir le duine íocaíocht a dhéanamh le duine atá ina chónaí lasmuigh de na críocha sceidealta, nó suim a chur chun creidmheasa duine den sórt sin, ach amháin le cead ón Aire.
  • Ní féidir le duine urrús ar bith a eisiúint do dhuine atá ina chónaí lasmuigh de na críocha sceidealta, nó d'ainmní duine den sórt sin, ach amháin le cead ón Aire.
  • Ní féidir le duine urrús, blianacht, nó polasaí árachais a aistriú chuig duine atá ina chónaí lasmuigh de na críocha sceidealta, nó chuig ainmní duine den sórt sin, ach amháin le cead ón Aire.
Legal text
Legal text

Exchange Control Act, 1954 Skip to content Disclaimer Feedback Helpdesk Gaeilge Léim go dtí an t-ábhar Séanadh Aiseolas Deasc chabhrach English Gaeilge English Produced by the Office of the Attorney General Táirgthe ag Oifig an Ard-Aighne Home Legislation Acts of the Oireachtas Statutory Instruments Pre-1922 Legislation Constitution External Resources Bills (Houses of the Oireachtas) Iris Oifigiúil / Official Gazette Revised Acts (LRC) Classified List of Legislation (LRC) Translations (acts.

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  3. s)or rangeBliain nó blianta nó raon TypeCineál All Legislation Acts Statutory Instruments Advanced SearchCuardach Casta HomeBaile ActsAchtanna 1954 Exchange Control Act, 1954 Exchange Control Act, 1954 Permanent Page URL View by SectionAmharc de réir Ailt View Full ActAmharc ar an Acht Iomlán Bill History Stair Bille Commencement, Amendments, SIs made under the Act Tosach Feidhme, Leasuithe, IRí arna ndéanamh faoin Acht Print Full ActPriontáil an tAcht Iomlán Number 30 of 1954. EXCHANGE CONTROL ACT, 1954. ARRANGEMENT OF SECTIONS PART I. Preliminary and General. Section 1. Short title. 2. Commencement and duration. 3. Interpretation. PART II. Dealings in Gold and Foreign Currency. 4. Dealings in gold and foreign currency. PART III. Payments. 5. Restrictions on payments to persons resident outside the scheduled territories. 6. Restrictions on payments to persons resident in the scheduled territories. 7. Payments, etc., by authorised dealers. PART IV. Securities. 8. Issue of securities. 9. Transfer of securities, annuities and policies of assurance. 10. Issue of bearer certificates and coupons. 11. Substitution of securities and certificates outside the scheduled territories. 12. Payment of capital moneys outside the scheduled territories. 13. Duties of persons keeping registers. 14. Deposit of securities. PART V. Import and Export. 15. Restrictions on import. 16. Restrictions on export. 17. Payment for exports. PART VI. Enforcement. 18. Application of the Customs Acts. 19. Search and seizure. 20. Offences, prosecutions and punishments. 21. Continued non-compliance. 22. Summary proceedings. PART VII. Miscellaneous. 23. Collection of debts. 24. Restriction on certain loans. 25. Permissions. 26. Directions. 27. Exemptions. 28. Delegation. 29. Service. 30. Regulations. 31. Additional authorised dealers and authorised depositaries. 32. Application to the State. 33. Expenses and disposal of moneys received. 34. Repeal and transitional provisions. FIRST SCHEDULE. Authorised Dealers. SECOND SCHEDULE. Authorised Depositaries. THIRD SCHEDULE. Reserved Securities. Acts Referred to Finance Act, 1938 No. 25 of 1938 Post Office (Amendment) Act, 1951 No. 17 of 1951 Supplies and Services (Temporary Provisions) Act, 1946 No. 22 of 1946 Number 30 of 1954. EXCHANGE CONTROL ACT, 1954. AN ACT TO CONFER POWERS, AND IMPOSE DUTIES AND RESTRICTIONS, IN RELATION TO GOLD, CURRENCY, PAYMENTS, SECURITIES, DEBTS, AND THE IMPORT, EXPORT AND TRANSFER OF PROPERTY, AND FOR PURPOSES CONNECTED WITH THE MATTERS AFORESAID. [9th December, 1954.] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:— PART I. Preliminary and General. Short title. 1.—This Act may be cited as the Exchange Control Act, 1954. Commencement and duration. 2.—

(1)This Act shall come into operation on such day or days as, by order or orders made by the Minister, may be fixed therefor either generally or with reference to any particular purpose or provision, and different days may be so fixed for different purposes and different provisions.
(2)This Act shall continue in operation until the 31st day of December, 1958, and shall then expire. Interpretation. 3.—In this Act— “authorised dealer” means a person specified in the First Schedule or prescribed under section 31; “authorised depositary” means a person specified in the Second Schedule or prescribed under section 31; “authorised officer” means an immigration officer or a member of the Garda Síochána; “bearer certificate” means a certificate of title to securities by the delivery of which, with or without endorsement, title to the securities is transferable; “certificate of title” means any document (not being a receipt by an authorised depositary for a document deposited) recognising or conferring or containing evidence of title or rights (whether actual or contingent) to securities and, in the case of any such document with coupons (whether attached to the document or on separate coupon sheets), includes any coupons which have not been detached; “country of origin” means, in the case of natural products, the country where the goods were produced and, in the case of manufactured products, the country where they were transformed into the condition in which they were introduced into the State (packing, repacking, sorting or blending being regarded as not constituting transformation); “coupon” means a coupon representing dividends or interest on a security; “foreign currency” means any currency or notes other than currency or notes issued by the Government or under the law of any part of the scheduled territories, and any reference to foreign currency includes, except in so far as the context otherwise requires, a reference to any right to receive foreign currency in respect of any credit or balance at a bank; “gold” means gold coin or gold bullion; “the Minister” means, subject to section 28, the Minister for Finance; “prescribed” means prescribed by the Minister by regulations; “register” means any book, file or index in which securities are registered; “registered” includes inscribed; “reserved securities” means securities specified in the Third Schedule; “the scheduled territories” means— (a) the State, (b) Northern Ireland, Great Britain, the Channel Islands and the Isle of Man, and (c) such other territories as may be prescribed; “securities” means shares, stocks, bonds, debentures, debenture stock, units under a unit trust scheme or shares in an oil royalty; “specified currency” has the meaning assigned to it in section 4; “unit trust scheme” means any arrangement made for the purpose, or having the effect, of providing for persons having funds available for investment, facilities for the participation by them, as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of any property whatsoever; “unit” means, in relation to a unit trust scheme, a right or interest which may be acquired under the scheme. PART II. Dealings in Gold and Foreign Currency. Dealings in gold and foreign currency. 4.—
(1)Except with the permission of the Minister, a person, other than an authorised dealer, shall not buy or borrow any gold or foreign currency from, or sell or lend any gold or foreign currency to, any person other than an authorised dealer.
(2)The buying, borrowing, selling or lending of gold or foreign currency by an authorised dealer shall be subject to such directions as may be given by the Minister under section 26.
(3)(
  1. a)Every person who is entitled to sell, or procure the sale of, any foreign currency to which this subsection applies, and is not an authorised dealer, shall offer it, or cause it to be offered, for sale to an authorised dealer at such price as may for the time being be determined by the Minister, unless the Minister permits his retention and use thereof or he disposes thereof to any other person with the permission of the Minister. (
  2. b)The foreign currency to which this subsection applies is such foreign currency (in this Act referred to as “specified currency”) as may be prescribed. PART III. Payments. Restrictions on payments to persons resident outside the scheduled territories. 5.—Except with the permission of the Minister, a person shall not— (
  3. a)make, or commit himself to make, any payment to or by the order of or on behalf of any person resident outside the scheduled territories, or (
  4. b)place, or promise to place, any sum to the credit of any person so resident. Restrictions on payments to persons resident in the scheduled territories. 6.—Except with the permission of the Minister, a person shall not— (
  5. a)place, or promise to place, any sum to the credit of any person resident in the scheduled territories by the order of or on behalf of any person resident outside those territories, or (
  6. b)make, or commit himself to make, any payment to a person resident in the scheduled territories, or place, or promise to place, any sum to the credit of any person so resident as consideration for or in association with— (
  7. i)the receipt by any person of a payment made outside the scheduled territories, the acquisition by any person of property which is outside the scheduled territories, the performance outside the scheduled territories of any service, or the importation into the State or any other of the scheduled territories of goods of a country of origin not being in the scheduled territories, or (
  8. ii)the transfer to any person, or the creation in favour of any person, of a right (whether present or future, and whether actual or contingent) to receive a payment outside the scheduled territories, to acquire property which is outside the scheduled territories, to have performed outside the scheduled territories any service, or to import into the State or any other of the scheduled territories goods of a country of origin not being in the scheduled territories. Payments, etc., by authorised dealers. 7.—Notwithstanding any other provision of this Act, an authorised dealer may, in accordance with a direction given by the Minister under section 26— (
  9. a)make, or commit himself to make, payments to or by the order of persons resident outside the scheduled territories or place, or promise to place, sums to the credit of such persons, or (
  10. b)effect any other transaction in the normal course of banking business. PART IV. Securities. Issue of securities. 8.—Except with the permission of the Minister, a person shall not issue any security to a person who is resident outside the scheduled territories or who is a nominee of a person so resident. Transfer of securities, annuities and policies of assurance. 9.—
(1)Except with the permission of the Minister, a person shall not transfer— (
  1. a)any security, annuity or policy of assurance, or any right or interest in a security, annuity or policy of assurance, to a person who is resident outside the scheduled territories or who is a nominee of a person so resident, or (
  2. b)any reserved security or coupon, or any right or interest in a reserved security or coupon, to any person.
(2)Except with the permission of the Minister, a person shall not accept a transfer of— (
  1. a)any security, annuity or policy of assurance, or any right or interest in a security, annuity or policy of assurance, from a person who is resident outside the scheduled territories or who is a nominee of a person so resident, or (
  2. b)any reserved security or coupon, or any right or interest in a reserved security or coupon, from any person. Issue of bearer certificates and coupons. 10.—Except with the permission of the Minister, a person shall not issue any bearer certificate or coupon or so alter any document that it becomes a bearer certificate or coupon. Substitution of securities and certificates outside the scheduled territories. 11.—Except with the permission of the Minister, a person shall not do any act with intent to secure— (
  3. a)that a security which is— (
  4. i)registered in the scheduled territories, or (
  5. ii)transferable by means of a bearer certificate in the scheduled territories, becomes or is replaced by a security registered outside the scheduled territories or a security transferable by means of a bearer certificate outside the scheduled territories, or (
  6. b)that a certificate of title to any other security is issued outside the scheduled territories in substitution for, or in addition to, a certificate of title thereto which is in, or is or has been lost or destroyed in, the scheduled territories. Payment of capital moneys outside the scheduled territories. 12.—Except with the permission of the Minister, a person shall not do any act with intent to secure that— (
  7. a)capital moneys payable on a security registered in the scheduled territories are paid outside the scheduled territories, or (
  8. b)where the certificate of title to a security is in the scheduled territories, capital moneys payable on the security are paid outside the scheduled territories without production of the certificate to the person making the payment. Duties of persons keeping registers. 13.—Except with the permission of the Minister, a person concerned with the keeping of any register shall not— (
  9. a)enter in the register the name of any person unless there is produced to him such evidence as may be prescribed that the entry does not form part of a transaction involving a contravention of any of the provisions of this Act, or (
  10. b)enter in the register any address outside the scheduled territories except for the purpose of registering a transaction for which the permission of the Minister has been granted, or (
  11. c)do any act in relation to the register which recognises or gives effect to any act appearing to have been done in contravention of any of the provisions of this Act, whether done by a person resident in the State or not. Deposit of securities. 14.—
(1)Except with the permission of the Minister, a person, by whom or to whose order (either directly or indirectly) a certificate of title to a reserved security is held, shall cause the certificate to be kept in the custody of an authorised depositary.
(2)Except with the permission of the Minister— (
  1. a)an authorised depositary shall not release or destroy any certificate of title to a reserved security or any coupon, (
  2. b)an authorised depositary shall not do any act recognising or giving effect to the substitution (otherwise than by operation of law) of one person for another as the person from whom he receives an instruction in relation to a certificate of title to a reserved security.
(3)Except with the permission of the Minister, capital moneys, interest or dividends shall not be paid in the State on any reserved security except to, or to the order of, the authorised depositary with whom the certificate of title to the security is deposited.
(4)Except with the permission of the Minister, a person shall not detach any coupon from a certificate of title to securities with coupons otherwise than in the normal course for collection.
(5)A person depositing a certificate of title to a reserved security with an authorised depositary shall furnish such information as to ownership as the authorised depositary may require.
(6)For the purposes of this section— (
  1. a)a certificate of title shall be deemed not to be in the custody of an authorised depositary if he has no notice of the nature of the certificate or if it is in a locked or sealed receptacle from which he is not entitled to have it removed, (
  2. b)a certificate of title shall be deemed to be in the custody of an authorised depositary if it is in the custody of another person who holds it by order and on behalf of an authorised depositary. PART V. Import and Export. Restrictions on import. 15.—
(1)The importation of— (
  1. a)any certificate of title to any reserved security, including any such certificate which has been cancelled and any document certifying the destruction, loss or cancellation of any certificate of title to a reserved security, or (
  2. b)any coupon, is hereby prohibited except with the permission of the Minister.
(2)The importation from any place not in Northern Ireland, Great Britain, the Channel Islands or the Isle of Man of any notes which are or have been at any time legal tender in Northern Ireland, Great Britain, the Channel Islands and the Isle of Man, or any part thereof, or of any bank notes of any bank of issue in Northern Ireland, Great Britain, the Channel Islands or the Isle of Man, is hereby prohibited except with the permission of the Minister. Restrictions on export. 16.—
(1)The exportation of— (
  1. a)any gold, (
  2. b)any certificate of title to a reserved security (including any such certificate which has been cancelled) or any document certifying the destruction, loss or cancellation of any such certificate, or (
  3. c)any coupon, is hereby prohibited except with the permission of the Minister.
(2)The exportation to any place not in Northern Ireland, Great Britain, the Channel Islands or the Isle of Man of— (
  1. a)any notes issued by any bank in, or which are or have been legal tender in, any part of the scheduled territories, (
  2. b)any foreign currency or any document of a kind intended to enable the person to whom it is issued to obtain foreign currency from some other person on the credit of the person issuing it, (
  3. c)any policy of assurance, or (
  4. d)any postal order, is hereby prohibited except with the permission of the Minister. Payment for exports. 17.—
(1)The exportation of goods of any class or description to a destination in any territory, other than the scheduled territories, is hereby prohibited, except with the permission of the Minister, unless— (
  1. a)(
  2. i)there is produced to the Revenue Commissioners the prescribed evidence that payment for the goods in such manner as may be prescribed in relation to goods of that class or description exported to a destination in that territory has been made to a person in the State, and (
  3. ii)the Revenue Commissioners are satisfied that the amount of the payment that has been made is such as to represent a return for the goods which is, in all the circumstances, adequate, or (
  4. b)the Revenue Commissioners are satisfied that— (
  5. i)payment for the goods in such manner as may be prescribed in relation to goods of that class or description exported to a destination in that territory is to be made to a person in the State within six months after the date of the exportation, and (
  6. ii)the amount of the payment that is to be made is such as to represent a return for the goods which is, in all the circumstances, adequate.
(2)(
  1. a)For the purpose of satisfying themselves in the case of any goods as to the matters specified in paragraphs (
  2. a)and (
  3. b)of subsection
(1)of this section and without prejudice to the powers conferred by section 24 of the Finance Act, 1938 (No. 25 of 1938), the Revenue Commissioners may require the person making entry of the goods for export to deliver to the collector or other proper officer of customs, together with the entry, such declarations, signed by such persons, and such documents as the Revenue Commissioners think fit. (b) Where a person is required to deliver a declaration or a document under this subsection, the goods shall not be exported until the declaration or document has been delivered.
(3)Where goods are exported before receipt of payment to a destination outside the scheduled territories, the person exporting the goods shall, unless the Minister otherwise specifies, produce to the Revenue Commissioners, within seven months, or such longer period as the Minister may specify, after the date of exportation, the prescribed evidence showing the amount and manner of payment for the goods.
(4)It shall be a good defence to a prosecution for a contravention of subsection
(3)of this section that the failure to produce the evidence required by the subsection was due to no fault of the defendant. PART VI. Enforcement. Application of the Customs Acts: 18.—
(1)The Customs Acts shall, subject to such modifications, if any, as may be prescribed to adapt them to this Act, apply, in relation to any thing prohibited to be imported or exported by any of the provisions of this Act except with the permission of the Minister, as they apply in relation to goods prohibited to be imported or exported by or under any of the said Acts, and any reference in the said Acts to goods shall be construed as including a reference to any thing prohibited to be imported or exported by any of the provisions of this Act except with the permission of the Minister.
(2)References in this section to the Customs Acts shall be taken as including references to section 14 of the Post Office (Parcels) Act, 1882 (which, as amended by section 7 of the Post Office (Amendment) Act, 1951 (No. 17 of 1951), applies the Customs Acts to goods contained in foreign parcels and postal packets and provides that goods may be examined, seized and forfeited accordingly) and to section 18 of the Post Office Act, 1908 (which enables the Minister for Posts and Telegraphs to detain and forward to the Revenue Commissioners for opening and detention for the purpose of prosecution any postal packet suspected to contain contraband goods).
(3)Any declaration required to be given under section 17 shall, for the purposes of section 168 of the Customs Consolidation Act, 1876 (under which making false declarations in matters relating to customs is an offence), be deemed to be a declaration in a matter relating to customs. Search and seizure. 19.—
(1)Without prejudice to any powers conferred by the Customs Acts, a person (in this section referred to as the traveller) who, on any occasion, is about to leave the State or arrives in the State shall, if on that occasion he is required to do so by an officer of customs and excise or an authorised officer— (
  1. a)declare whether or not he has with him any thing prohibited to be imported or exported by any of the provisions of this Act except with the permission of the Minister, and (
  2. b)produce any such thing as aforesaid which he has with him.
(2)The officer may examine or search any article which the traveller has with him for the purpose of ascertaining whether he is conveying or has in his possession any such thing and, if the officer has reasonable grounds for suspecting that the traveller has about his person any such thing, he may search the traveller, and the officer may seize any thing produced as aforesaid or found upon such examination or search as aforesaid as to which the officer has reasonable grounds for suspecting that it is prohibited to be imported or exported by any of the provisions of this Act except with the permission of the Minister, unless the traveller produces evidence showing that he is exporting or importing the thing in accordance with this Act.
(3)A female shall not be searched in pursuance of this section except by a female. Offences, prosecutions and punishments. 20.—
(1)Every person who contravenes (whether by act or omission) or attempts so to contravene any provision of, or any restriction or requirement imposed by or under, this Act shall be guilty of an offence under this section.
(2)Every person who aids, abets, assists, counsels or procures another person, or conspires with another person, to commit an offence under this section, shall himself be guilty of an offence under this section.
(3)Every person who, knowing that another person has committed an offence under this section, gives that person any assistance with intent thereby to prevent, hinder or interfere with the apprehension, trial or punishment of that other person for the offence shall himself be guilty of an offence under this section.
(4)Where an offence under this section or an offence consequent on section 18 is committed by a body corporate and is proved to have been so committed with the consent or approval of, or to have been facilitated by any neglect on the part of, any director, manager, secretary, or other officer of such body corporate, such director, manager, secretary, or other officer shall also be guilty of the offence.
(5)Every person who, being ordinarily resident in the State, commits, whether within or without the State, an offence under this section and every person who, not being ordinarily resident in the State, commits within the State an offence under this section shall— (
  1. a)on summary conviction of the offence, be liable to a fine not exceeding five hundred pounds (together with, in the case of a continuing offence, a further fine not exceeding ten pounds for every day on which the offence is continued) or, at the discretion of the Court, to imprisonment for a term not exceeding six months or to both such fine and imprisonment, or (
  2. b)on conviction of the offence on indictment, be liable to a fine not exceeding five thousand pounds (together with, in the case of a continuing offence, a further fine not exceeding fifty pounds for every day on which the offence is continued) or, at the discretion of the Court, to imprisonment for a term not exceeding two years or to both such fine and such imprisonment.
(6)Where a person is convicted of an offence under this section, the Court may, in addition to the punishment to which such person is liable under subsection
(5)of this section, direct that any currency, any security, any gold, any goods or any other property, in relation to or by means of which the offence was committed, be forfeited, and anything so forfeited shall be disposed of in such manner as the Minister may direct.
(7)An offence consequent upon section 18 shall not be punishable under this section. Continued non-compliance. 21.—
(1)Where— (
  1. a)a person is convicted of an offence under section 20 by reason of his failure, neglect or refusal to comply with any provision requiring him to perform a specified act within a specified period or before a specified date, and (
  2. b)the act remains, after the date of such conviction, unperformed by him, that person shall be guilty of an offence under this section and shall be liable on summary conviction thereof to a fine not exceeding ten pounds for each day on which the act remains unperformed by him or, at the discretion of the Court, to imprisonment for a term not exceeding six months or to both such fine and such imprisonment.
(2)An offence under this section shall be a continuing offence and accordingly fresh proceedings in respect thereof may be taken from time to time. Summary proceedings. 22.—Proceedings in the District Court in relation to an offence under section 20 or 21 may be brought and prosecuted by the Minister. PART VII. Miscellaneous. Collection of debts. 23.—Except with the permission of the Minister, a person who has a right (whether present or future and whether actual or contingent) to receive any specified currency, or any payment from a person resident outside the scheduled territories, shall not do or refrain from doing, any act with intent to secure— (a) that the receipt by him of the whole or part of the currency or payment is delayed, or (b) that the currency or payment ceases, in whole or in part, to be receivable by him. Restriction on certain loans. 24.—
(1)Except with the permission of the Minister, a person shall not lend any money or securities to any body corporate resident in the scheduled territories which is by any means controlled (whether directly or indirectly) by persons resident outside the scheduled territories.
(2)This section shall not apply where the lender after making such inquiries as are reasonable in the circumstances of the case does not know and has no reason to suspect that the body corporate is so controlled. Permissions. 25.—
(1)Any permission granted under this Act may be either general or limited to a particular transaction and either absolute or conditional and may be revoked or amended.
(2)A person who avails himself of any permission granted under this Act shall comply with any conditions attached to the permission.
(3)The grant of permissions under this Act shall be at the discretion of the Minister. Directions. 26.—
(1)The Minister may give directions to persons belonging to the following classes, that is to say:— (
  1. a)authorised dealers and authorised depositaries, (
  2. b)persons to whom any powers of the Minister under this Act are delegated, being— (
  3. i)in the case of any such persons, directions as respects the exercise of any functions exercisable by them by virtue of, or by virtue of anything done under, any provision of this Act, or (
  4. ii)in the case of authorised dealers, such directions as aforesaid, or directions as to the terms on which they may buy, borrow or otherwise accept gold or foreign currency, or sell, lend or otherwise dispose of gold or foreign currency and the furnishing to the Minister of returns of transactions in gold or foreign currency and of payments made to or received from persons resident outside the scheduled territories.
(2)Any direction given under this section to a person shall be complied with by such person.
(3)Any direction given under this section may be either general or particular and may be revoked or varied by subsequent directions.
(4)Directions under this section shall be given in such manner as the Minister thinks appropriate.
(5)Notwithstanding subsection
(4)of this section, a person shall not by virtue of any direction under this section, be convicted of an offence under this Act unless the direction was served on him. Exemptions. 27.—The Minister, if he so thinks proper, may by regulations grant exemption from compliance with any provision of this Act and the exemption may be either absolute or conditional. Delegation. 28.—The Minister may, to such extent and subject to such restrictions and conditions as he may think proper, delegate or authorise the delegation of any of his powers (other than a power to make any order or regulations) to any person, or any class of persons approved by him, and references in this Act to the Minister shall be construed accordingly. Service. 29.—
(1)Any document under this Act may be served on a person— (
  1. a)by delivering the document to such person, (
  2. b)by sending the document by post in an envelope addressed to such person at the address at which he ordinarily resides or carries on business, or (
  3. c)where such person is absent or abroad or his address is unknown and cannot be ascertained by reasonable inquiries— (
  4. i)by delivering the document to an agent of the person, or (
  5. ii)by sending the document by post in an envelope addressed to an agent of the person at the address where the agent ordinarily resides.
(2)For the purposes of subsection
(1)of this section, a company registered under the Companies Acts, 1908 to 1924, shall be deemed to carry on business at its registered office and every other body corporate and every unincorporated body shall be deemed to carry on business at its principal office or place of business in the State. Regulations. 30.—
(1)The Minister may make regulations prescribing any matter referred to in this Act as prescribed or to be prescribed.
(2)Every regulation under this section shall be laid before each House of the Oireachtas as soon as may be after it is made, and if a resolution annulling the regulation is passed by either such House within the next subsequent twenty-one days on which that House has sat after the regulation is laid before it, the regulation shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder. Additional authorised dealers and authorised depositaries. 31.—The Minister may by regulations appoint persons (in addition to the person specified in the First and Second Schedules) to be authorised dealers or authorised depositaries. Application to the State. 32.—This Act shall bind the State and shall apply to transactions by a Minister of State or other authority acting on behalf of the State. Expenses and disposal of moneys received. 33.—
(1)The expenses incurred by the Minister in the administration of this Act shall be defrayed out of moneys provided by the Oireachtas.
(2)All moneys received by the Minister under this Act shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister may specify. Repeal and transitional provisions. 34.—
(1)Paragraph (c) of subsection
(1)of section 2 of the Supplies and Services (Temporary Provisions) Act, 1946 (No. 22 of 1946), is hereby repealed.
(2)Any direction, permission, authorisation or exemption given in exercise of a power conferred by order under the enactment hereby repealed which could have been given under any provision of this Act, shall, if in force immediately before the commencement of that provision, have effect as if given under that provision. FIRST SCHEDULE. Authorised Dealers. Section 3 . Bank of Ireland. Guinness & Mahon. Hibernian Bank, Ltd. Munster & Leinster Bank, Ltd. National Bank, Ltd. National City Bank, Ltd. Northern Bank, Ltd. Provincial Bank of Ireland, Ltd. Royal Bank of Ireland, Ltd. Ulster Bank, Ltd. SECOND SCHEDULE. Authorised Depositaries. Section 3 . Bank of Ireland. Guinness & Mahon. Hibernian Bank, Ltd. Munster & Leinster Bank, Ltd. National Bank, Ltd. National City Bank, Ltd. Northern Bank, Ltd. Provincial Bank of Ireland, Ltd. Royal Bank of Ireland, Ltd. Ulster Bank, Ltd. THIRD SCHEDULE. Reserved Securities. Section 3 .
  1. Securities transferable by means of bearer certificates.
  2. Securities registered outside the State on which interest or dividends are payable by coupon.
  3. Securities registered outside the scheduled territories.
  4. Securities registered in the scheduled territories which can be transferred to or in a register outside the scheduled territories. Privacy Statement Accessibility European Legislation Identifier (PDF) Open Data License Ráiteas Príobháideachais Inrochtaineacht Aitheantóir Eorpach Reachtaíochta (ELI) Ceadúnas Sonraí Oscailte Liosta Fianán © Government of Ireland. Oireachtas Copyright Material is reproduced with the permission of the Houses of the Oireachtas © Rialtas na hÉireann. Atáirgtear ábhar faoi Chóipcheart le cead ó Thithe an Oireachtais

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