PART I.

Preliminary and General.

1. —(1) This Act may be cited as the Central Bank Act, 1942.

(2) The Currency Acts, 1927 and 1930, and this Act may be cited together as the Currency and Central Bank Acts, 1927 to 1942.

(3) This Act shall be construed as one with the Currency Acts, 1927 and 1930.

(4) The expression “this Act” wherever it occurs in the Currency Act shall be construed and have effect as including the Currency (Amendment) Act, 1930 (No. 30 of 1930), and this present Act.

2. —In this Act—

the expression “the Minister” means the Minister for Finance;

the expression “the Currency Act” means the Currency Act, 1927 (No. 32 of 1927), as adapted in consequence of the enactment of the Constitution;

the expression “the Commission” means the Currency Commission;

the expression “the Bank” means the Central Bank of Ireland established by this Act;

the expression “the Board” means the Board of Directors of the Bank;

the word “Governor” means the Governor of the Bank;

the expression “Director of the Bank” does not include the Governor;

the word “Director” means (save where the context otherwise requires) a Director of the Bank;

the expression “service Director” means a Director who is in the permanent service of the State;

the expression “licensed banker” means the holder of a banker's licence issued to him under this Act and for the time being in force;

the expressions “legal tender note”, “consolidated bank note”, “legal tender note fund”, “note reserve fund”, and “general fund” have the same meanings as they respectively have in the Currency Act.

3. —(1) The Minister shall, by order appoint a day to be the appointed day for the purposes of this Act.

(2) In this Act the expression “the appointed day” means the day appointed under this section to be the appointed day for the purposes of this Act.

4. —(1) The several sections of the Currency Act mentioned in the first column of Part I of the First Schedule to this Act are hereby repealed to the extent mentioned in the second column, and as on and from the date specified in the third column, of the said Part of the said Schedule opposite the mention of such section in the said first column.

(2) The several enactments specified in Part II of the First Schedule to this Act are hereby repealed to the extent mentioned in the third column, and as on and from the respective dates mentioned in the fourth column, of the said Part of the said Schedule.