Number 36 of 1986

BUILDING SOCIETIES (AMENDMENT) ACT, 1986

ARRANGEMENT OF SECTIONS

Number 36 of 1986

BUILDING SOCIETIES (AMENDMENT) ACT, 1986

Definitions.

1.—In this Act—

“the Acts” means the Building Societies Acts, 1976 to 1983;

“the Principal Act” means the Building Societies Act, 1976.

Amendment of section 2 of Principal Act.

2.—Section 2 of the Principal Act is hereby amended by the substitution in subsection (1) for the definition of “society” of the following definition:

“‘society’ means a building society established under this Act for the purpose of raising, in accordance with this Act, funds (by the subscriptions of the members, the acceptance of deposits and loans) for making loans to members—

(a) on security by the mortgage of freehold or leasehold estate or interest; or

(b) with or without security and in accordance with any regulations made by the Minister under section 3 of the Building Societies (Amendment) Act, 1986;”.

Power of Minister to prescribe purposes for which loan may be made.

3.—(1) Notwithstanding any provision of the Acts and of any statutory instrument made thereunder, a society may, in addition to any other loan which it may make under the Acts, make, for such purposes and subject to such conditions (other than conditions in relation to the rate of interest chargeable on a loan) as the Minister, with the consent of the Minister for Finance and after consultation with the Registrar, may prescribe, loans to members, with or without security as may be so prescribed, and different conditions may be prescribed in relation to different classes of loans.

(2) The Minister may make regulations providing for any modification, adaptation, amendment, repeal, revocation or termination of any provisions of the Acts as may reasonably be necessary or proper for the purposes of subsection (1) of this section or to give full effect to any provisions of subsection (1) of this section or any regulations made thereunder.

(3) Where regulations are proposed to be made under subsection (2) of this section, a draft of the proposed regulations shall be laid before each House of the Oireachtas and the regulations shall not be made until a resolution approving of the draft has been passed by each such House.

(4) The Registrar may, whenever he considers that—

(a) it is expedient in the interest of the orderly and proper regulation of building society business, or

(b) a society has carried on business in a manner prejudicial to such regulation,

issue to any society or, as the case may be, to that society, a direction prohibiting or restricting, as he considers proper, the making of loans pursuant to subsection (1) of this section to members, and any such direction shall have effect in accordance with its terms.

(5) The Registrar may, at any time as circumstances may demand, revoke a direction under subsection (4) of this section.

Tiered interest rates.

4.—(1) A society shall not charge a tiered interest rate on a loan made to a member where—

(a) the mortgage in respect of the loan was created before the 1st day of August, 1986, and

(b) a tiered interest rate was not being charged in respect of the loan on that day.

(2) (a) A society shall not charge a tiered interest rate on a loan made to a member where the mortgage in respect of the loan was created on or after the 23rd day of October, 1986.

(b) This subsection shall have effect from the first day of the month following the expiration of a period of six months commencing on the date of passing of this Act.

(3) In this section and in section 5 of this Act—

“loan” means a loan made by a society to a member on the security of a mortgage of a freehold or leasehold estate or interest in a dwelling;

“tiered interest rate” means the rate of interest on a loan where such rate—

(a) is determined by reference to the amount of the loan made, or to the amount outstanding at any time on foot of the loan, or to the income of the member to whom the loan is made, as the case may be, and

(b) is greater than the lowest rate of interest applicable at the time to loans made by the society to members generally.

Rights of member if charged tiered interest rate.

5.—If a member of a society to whom a loan has been made is charged by the society a tiered interest rate in contravention of section 4 of this Act, the following provisions shall apply, namely—

(a) the member shall not be in breach of the terms of his mortgage if he does not pay to the society the amount by which any payment due on foot of the tiered interest rate exceeds any amount due on foot of the lowest rate of interest applicable at that time to loans made by the society to members generally and the society shall not, by reason only of such failure to pay, be entitled to exercise any remedy against the mortgagor which is otherwise conferred on it by law, and

(b) the member shall be entitled to recover from the society any such excess paid by him as a simple contract debt in any court of competent jurisdiction.

Additional powers of Minister to prescribe rules.

6.—(1) The Minister may, after consultation with the Registrar, prescribe rules in respect of any one or more of the following matters, either generally or by reference to a specified class or classes of rules or societies, denoted by reference to such matters as the Minister may consider appropriate:

(a) the prohibiting or restricting of the charging of redemption fees;

(b) the making available to a member to whom a loan is to be made of the report made under section 79 (1) (b) of the Principal Act relating to the value of any security for the loan;

(c) removing or restricting the right of a society to require a member to effect insurance on any security for a loan with an insurer directed by the society or through the agency of the society or of any intermediary directed by the society;

(d) precluding or restricting a society from requiring a member to pay its costs of legal investigation of title to any such security; and

(e) the arranging by a society through an insurer or an intermediary nominated by it for the provision of mortgage protection insurance.

(2) Where rules have been prescribed by regulations in relation to any of the matters referred to in subsection (1) of this section, such rules shall, with effect from one month after the commencement of the regulations, be part of the rules of any society to which they are declared to be applicable by the regulations by which such rules have been prescribed, notwithstanding any provision of the Acts or the rules of the society.

(3) In this section “redemption fee” means, in relation to a loan, any sum in addition to principal and any interest due on such principal (without regard to the fact of the redemption of the loan) at the time of redemption of the whole or part of the loan.

Rules relating to appointment, etc. of board of directors.

7.—(1) Notwithstanding the provisions of the Acts or the rules of a society, whenever the Minister prescribes rules, pursuant to section 10 (3) of the Principal Act, such rules, in so far as they relate to the appointment, remuneration and removal of the board of directors of societies, shall, if the regulations by which such rules are prescribed so specify, be rules to which this section applies.

(2) Where rules to which this section applies have been prescribed, and the rules of a society to which they are declared to be applicable by the regulations by which such rules have been prescribed are not in the opinion of the Registrar substantially in accordance with the rules as so prescribed, the Registrar shall notify the society of his opinion within one month after the commencement of the regulations, and in such a case the prescribed rules shall, with effect from three months after the commencement of the regulations, be part of the rules of the society and shall have effect notwithstanding any existing provision of the rules of the society.

(3) (a) A society may, before the expiration of the period of three months specified in subsection (2) of this section, appeal to the Court against the opinion of the Registrar.

(b) Where an appeal under this subsection is upheld, the rules of the society may remain in operation.

(c) Where an appeal under this subsection fails, the rules prescribed shall, with effect from one month after the date of the Court's decision on the appeal, be part of the rules of the society and shall have effect notwithstanding any existing provision of the rules of the society.

Building Societies Consultative Council.

8.—(1) The Minister may appoint a body which shall be known as the Building Societies Consultative Council and is in this section referred to as “the Council”.

(2) The Council—

(a) may advise the Minister on any matter affecting the operation of building society business, and

(b) shall advise the Minister on any matter relating to building societies referred to it by the Minister.

(3) The Council shall consist of so many persons appointed by the Minister, and any person so appointed shall hold office for such period as the Minister may specify.

(4) The Minister shall, from time to time, nominate one member of the Council to act as chairman thereof.

(5) The Minister may, at any time, remove any member (including the Chairman) from office.

(6) The reference in section 76 of the Principal Act to the Building Societies Advisory Committee shall be construed as a reference to the Council.

(7) Section 96 of the Principal Act is hereby repealed.

Amendment of section 12 of Principal Act.

9.—Section 12 of the Principal Act is hereby amended by the substitution for subsection (3) of the following subsection:

“(3) Where copies are forwarded to the Registrar in accordance with subsection (2) and he is satisfied that—

(a) the alteration is in accordance with this Act and substantially in accordance with any rules prescribed under section 10 (3), and

(b) registration would not be prejudicial to the orderly and proper regulation of building society business,

he shall return one of the copies to the secretary together with a certificate of registration in the prescribed form, and shall retain and register the other copy.”.

Amendment of section 22 of Principal Act.

10.—Section 22 of the Principal Act is hereby amended by the substitution for subsection (3) of the following subsection:

“(3) A society may borrow money (including, where the Registrar with the consent of the Minister for Finance so authorises, money in a currency other than the currency of the State) and, for this purpose, may accept deposits or loans at interest, to be applied for the purpose of the society.”.

Short title, construction and collective citation.

11.—(1) This Act may be cited as the Building Societies (Amendment) Act, 1986.

(2) The Building Societies Acts, 1976 to 1983, and this Act may be cited together as the Building Societies Acts, 1976 to 1986, and shall be construed together as one Act.

Uimhir 36 de 1986

AN tACHT CUMANN FOIRGNÍOCHTA (LEASÚ), 1986

RIAR NA nALT

Uimhir 36 de 1986

AN tACHT CUMANN FOIRGNÍOCHTA (LEASÚ), 1986

[An tiontú oifigiúil]

[22 Nollaig, 1986]

Mínithe.

1.—San Acht seo—

ciallaíonn “na hAchtanna” na hAchtanna Cumann Foirgníochta, 1976 go 1983;

ciallaíonn “an Príomh-Acht” an tAcht Cumann Foirgníochta, 1976.

Leasú ar alt 2 den Phríomh-Acht.

2.—Leasaítear leis seo alt 2 den Phríomh-Acht tríd an míniú seo a leanas a chur in ionad an mhínithe ar “cumann” i bhfo-alt (1):

“ciallaíonn ‘cumann’ cumann foirgníochta arna bhunú faoin Acht seo chun cistí a chruinniú (trí shuibscríobhanna ó na comhaltaí, trí thaiscí a ghlacadh agus trí iasachtaí), de réir an Achta seo, chun iasachtaí a thabhairt do chomhaltaí—

(a) ar urrús trí eastát nó leas, ruílse nó léasach, a mhorgáistiú; nó

(b) le hurrús nó gan urrús agus de réir aon rialachán a dhéanfaidh an tAire faoi alt 3 den Acht Cumann Foirgníochta (Leasú), 1986;”.

Cumhacht an Aire chun críocha a dtabharfar iasacht ina leith a fhorordú.

3.—(1) D'ainneoin aon fhorála de na hAchtanna agus d'aon ionstraim reachtúil a dhéanfar fúthu, féadfaidh cumann, i dteannta aon iasachta eile a thabharfaidh sé faoi na hAchtanna, iasachtaí a thabhairt do chomhaltaí, le hurrús nó gan urrús de réir mar a bheidh forordaithe ag an Aire, le toiliú an Aire Airgeadais agus tar éis dó dul i gcomhairle leis an gCláraitheoir, chun cibé críocha agus faoi réir cibé coinníollacha (seachas coinníollacha i ndáil leis an ráta úis is inmhuirearaithe ar iasacht) a fhorordóidh an tAire amhlaidh, agus féadfar coinníollacha éagsúla a fhorordú i ndáil le haicmí éagsúla iasachtaí.

(2) Féadfaidh an tAire rialacháin a dhéanamh a fhorálfaidh d'aon mhodhnú, oiriúnú, leasú, aisghairm, cúlghairm nó foirceannadh ar aon fhorálacha de na hAchtanna is gá nó is cuí go réasúnach chun críocha fho-alt (1) den alt seo nó chun lánéifeacht a thabhairt d'aon fhorálacha d'fho-alt (1) den alt seo nó d'aon rialacháin a dhéanfar faoi.

(3) I gcás go mbeartaítear rialacháin a dhéanamh faoi fho-alt (2) den alt seo, déanfar dréacht de na rialacháin atá beartaithe a leagan faoi bhráid gach Tí den Oireachtas agus ní dhéanfar na rialacháin go ndéanfaidh gach Teach díobh sin rún a rith ag ceadú an dréachta.

(4) Féadfaidh an Cláraitheoir, aon uair a mheasann sé—

(a) go bhfuil sé fóirsteanach ar mhaithe le gnó cumann foirgníochta a rialáil go hordúil cuí, nó

(b) go bhfuil cumann tar éis gnó a sheoladh ar dhóigh atá dochrach don rialáil sin,

ordú a eisiúint chuig aon chumann nó, de réir mar a bheidh, chuig an gcumann sin, á thoirmeasc nó á shrianadh air, de réir mar is cuí leis, iasachtaí a thabhairt do chomhaltaí de bhun fho-alt (1) den alt seo agus beidh éifeacht le haon ordú den sórt seo de réir a chuid téarmaí.

(5) Féadfaidh an Cláraitheoir tráth ar bith de réir mar is gá sna himthosca, ordú faoi fho-alt (4) den alt seo a chúlghairm.

Rátaí úis srathacha.

4.—(1) Ní mhuirearóidh cumann ráta úis srathach ar iasacht a tugadh do chomhalta—

(a) más roimh an 1ú lá de Lúnasa, 1986, a bunaíodh an morgáiste i leith na hiasachta agus

(b) mura raibh ráta úis srathach á mhuirearú i leith na hiasachta an lá sin.

(2) (a) Ní dhéanfaidh cumann ráta úis srathach a mhuirearú ar iasacht a tugadh do chomhalta más ar an 23ú lá de Dheireadh Fómhair, 1986, nó dá éis, a bunaíodh an morgáiste i leith na hiasachta.

(b) Beidh éifeacht leis an bhfo-alt seo ón gcéad lá den mhí tar éis do thréimhse sé mhí a bheith caite ag tosú ar dháta rite an Achta seo.

(3) San alt seo agus in alt 5 den Acht seo—

ciallaíonn “iasacht” iasacht a thugann cumann do chomhalta ar an urrús a thig ó eastát nó ó leas, ruílse nó léasach, i dteaghais a mhorgáistiú;

ciallaíonn “ráta úis srathach” an ráta úis ar iasacht i gcás—

(a) go gcinntear an ráta sin faoi threoir mhéid na hiasachta a thugtar nó de réir an méid a bheidh gan íoc tráth ar bith de bhun na hiasachta, nó de réir ioncam an chomhalta dá dtugtar an iasacht, de réir mar a bheidh, agus

(b) gur mó an ráta sin ná an ráta úis is lú is infheidhme ag an am maidir le hiasachtaí a thugann an cumann do chomhaltaí go ginearálta.

Cearta comhalta i gcás go muirearaítear ráta úis srathach air.

5.—Má mhuirearaíonn cumann ráta úis srathach de shárú ar alt 4 den Acht seo ar chomhalta den chumann ar tugadh iasacht dó, beidh feidhm ag na forálacha seo a leanas, eadhon—

(a) Ní sárú ar théarmaí mhorgáiste an chomhalta a bheidh ann mura n-íocfaidh sé leis an gcumann an méid ar mó aon íocaíocht a bheidh dlite de bhun an ráta úis shrathaigh ná aon mhéid a bheidh dlite de bhun an ráta úis is ísle is infheidhme an tráth sin maidir le hiasachtaí a thugann an cumann do chomhaltaí go ginearálta agus ní bheidh an cumann i dteideal, de bhíthin amháin nár íoc an comhalta an méid sin, aon leigheas a fheidhmiú in aghaidh an mhorgáisteora a thugtar don chumann le dlí thairis sin, agus

(b) beidh an comhalta i dteideal aon bharrachas den sórt sin a d'íoc sé a ghnóthú ón gcumann mar fhiach conartha shimplí in aon chúirt dlínse inniúla.

Cumhachtaí breise an Aire chun rialacha a fhorordú.

6.—(1) Féadfaidh an tAire, tar éis dó dul i gcomhairle leis an gCláraitheoir, rialacha a fhorordú maidir le haon ní amháin nó níos mó de na nithe seo a leanas, go ginearálta nó faoi threoir aicme nó aicmí sonraithe rialacha nó cumann, is nithe a shonrófar faoi threoir cibé nithe is cuí leis an Aire:

(a) muirearú táillí fuascailte a thoirmeasc nó a shrianadh;

(b) an tuarascáil a rinneadh faoi alt 79 (1) (b) den Phríomh-Acht maidir le luach aon urrúis le haghaidh iasachta a bheidh le tabhairt do chomhalta, a chur ar fáil don chomhalta sin;

(c) deireadh nó srianadh a chur leis an gceart atá ag cumann a cheangal ar chomhalta árachas a chur i bhfeidhm ar aon urrús le haghaidh iasachta le hárachóir a ordóidh an cumann, nó trí ghníomhaireacht an chumainn nó aon idirghabhálaí a ordóidh an cumann;

(d) cumann a chosc nó a shrianadh ó cheangal a chur ar chomhalta costais an chumainn i ndáil le himscrúdú dlíthiúil ar theideal chun aon urrúis den sórt sin a íoc; agus

(e) cumann do shocrú árachas cosanta morgáiste a chur ar fáil trí árachóir nó trí idirghabhálaí a bheidh ainmnithe aige.

(2) I gcás gur forordaíodh rialacha le rialacháin i ndáil le haon cheann de na nithe dá dtagraítear i bhfo-alt (1) den alt seo, beidh na rialacha sin, le héifeacht ó mhí amháin tar éis thosach feidhme na rialachán, mar chuid de rialacha aon chumainn a ndearbhaítear iad a bheith infheidhme ina leith leis na rialacháin lenar forordaíodh na rialacha sin, d'ainneoin aon fhorála de na hAchtanna nó de rialacha an chumainn.

(3) San alt seo ciallaíonn “táille fuascailte”, i ndáil le hiasacht, aon suim i dteannta príomhshuime agus aon úis a dhlitear ar an bpríomhshuim sin (gan féachaint don fhíoras maidir le fuascailt na hiasachta) tráth fuascailte na hiasachta go hiomlán nó go páirteach.

Rialacha a bhaineann le bord stiúrthóirí a cheapadh, etc.

7.—(1) D'ainneoin fhorálacha na nAchtanna nó rialacha cumainn, cibé uair a fhorordóidh an tAire rialacha, de bhun alt 10 (3) den Phríomh-Acht, is rialacha lena mbaineann an t-alt seo, i gcás go sonraíonn na rialacháin lena bhforordaítear na rialacha sin amhlaidh, a bheidh sna rialacha sin, a mhéid a bhaineann siad le ceapachán, luach saothair agus cur as oifig bord stiúrthóirí cumann.

(2) I gcás gur forordaíodh rialacha lena mbaineann an t-alt seo agus, maidir le rialacha cumainn a ndearbhaítear leis na rialacháin lenar forordaíodh na rialacha sin iad a bheith infheidhme i ndáil leo, nach bhfuil siad, i dtuairim an Chláraitheora, go substaintiúil de réir na rialacha arna bhforordú amhlaidh, cuirfidh an Cláraitheoir a thuairim in iúl don chumann laistigh de mhí amháin tar éis thosach feidhme na rialachán, agus i gcás den sórt sin, beidh na rialacha forordaithe, le héifeacht ó thrí mhí tar éis thosach feidhme na rialachán, mar chuid de rialacha an chumainn agus beidh éifeacht leo d'ainneoin aon fhorála láithrí i rialacha an chumainn.

(3) (a) Féadfaidh cumann, roimh dheireadh na tréimhse trí mhí a shonraítear i bhfo-alt (2) den alt seo, achomharc a dhéanamh chun na Cúirte in aghaidh thuairim an Chláraitheora.

(b) I gcás go n-éireoidh le hachomharc faoin bhfo-alt seo, féadfaidh rialacha an chumainn fanacht i ngníomh.

(c) I gcás go dteipfidh ar achomharc faoin bhfo-alt seo beidh na rialacha forordaithe, le héifeacht ó mhí amháin tar éis don Chúirt an t-achomharc a chinneadh, mar chuid de rialacha an chumainn agus beidh éifeacht leo d'ainneoin aon fhorála láithrí i rialacha an chumainn.

Comhairle Chomhchomhairleach na gCumann Foirgníochta.

8.—(1) Féadfaidh an tAire comhlacht a cheapadh dá ngairfear Comhairle Chomhchomhairleach na gCumann Foirgníochta agus dá ngairtear “an Chomhairle” san alt seo.

(2) Maidir leis an gComhairle—

(a) féadfaidh sí comhairle a thabhairt don Aire maidir le haon ábhar a bhaineann le hoibriú gnó cumann foirgníochta, agus

(b) tabharfaidh sí comhairle don Aire maidir le haon ábhar a bhaineann le cumainn foirgníochta a chuirfidh an tAire faoina bráid.

(3) Beidh ar an gComhairle an oiread daoine a cheapfaidh an tAire agus beidh aon duine a cheapfar amhlaidh i seilbh oifige ar feadh cibé tréimhse a shonróidh an tAire.

(4) Ainmneoidh an tAire, ó am go ham, comhalta amháin den Chomhairle chun gníomhú mar chathaoirleach ar an gComhairle.

(5) Féadfaidh an tAire tráth ar bith aon chomhalta (lena n-áirítear an Cathaoirleach) a chur as oifig.

(6) Forléireofar mar thagairt don Chomhairle an tagairt in alt 76 den Phríomh-Acht do Choiste Comhairleach na gCumann Foirgníochta.

(7) Aisghairtear leis seo alt 96 den Phríomh-Acht.

Leasú ar alt 12 den Phríomh-Acht.

9.—Leasaítear leis seo alt 12 den Phríomh-Acht tríd an bhfo-alt seo a leanas a chur in ionad fho-alt (3):

“(3) I gcás go gcuirfear cóipeanna go dtí an Cláraitheoir de réir fho-alt (2) agus gur deimhin leis—

(a) gur athrú de réir an Achta seo an t-athrú agus go bhfuil sé go substaintiúil de réir rialacha a bheidh forordaithe faoi alt 10 (3), agus

(b) nach ndéanfadh clárú dochar do ghnó cumann foirgníochta a rialáil go hordúil cuí,

tabharfaidh sé ceann de na cóipeanna ar ais don rúnaí mar aon le deimhniú cláraitheachta san fhoirm fhorordaithe agus coimeádfaidh agus cláróidh sé an chóip eile.”.

Leasú ar alt 22 den Phríomh-Acht.

10.—Leasaítear leis seo alt 22 den Phríomh-Acht tríd an bhfo-alt seo a leanas a chur in ionad fho-alt (3):

“(3) Féadfaidh cumann airgead a fháil ar iasacht (lena n-áirítear, má údaraíonn an Cláraitheoir le toiliú an Aire Airgeadais amhlaidh, airgead in airgead reatha seachas airgead reatha an Stáit) agus, chun na críche sin, féadfaidh sé taiscí nó iasachtaí a ghlacadh ar ús, lena n-úsáid chun críche an chumainn.”.

Gearrtheideal, forléiriú agus comhlua.

11.—(1) Féadfar an tAcht Cumann Foirgníochta (Leasú), 1986, a ghairm den Acht seo.

(2) Féadfar na hAchtanna Cumann Foirgníochta, 1976 go 1986, a ghairm de na hAchtanna Cumann Foirgníochta, 1976 go 1983, agus den Acht seo le chéile, agus forléireofar le chéile iad mar aon Acht amháin.