Building Societies Act, 1989 (No. 17)

Version status: In force | Document consolidation status: Updated to reflect all known changes

Published date: 12 July 1989

Consolidation Status: Updated to reflect all known changes

Comparing proposed amendment...


	Introductory Text
	Acts Referred to
	Part I Preliminary and General (ss. 1-8)
In force	1. Short title and commencement.
In force	2. Interpretation.
In force	3. Regulations, directions, etc.
In force	4. Regulations to remove difficulties.
In force	5. Modification of Act to conform with changes in company and banking law.
In force	6. Repeals and consequential provisions.
In force	7. Service of notices.
In force	8. Expenses.
	Part II Formation and Authorisation of Building Societies (ss. 9-17F)
In force	9. Objects and general powers of a building society.
In force	10. Formation, registration and incorporation.
In force	11. Supplemental provisions relating to memorandum and rules.
In force	12. Acts of a society.
In force	13. Registered name.
In force	14. Alteration of memorandum and rules.
In force	15. Chief office of society.
In force	16. Membership and liability of members.
In force	17. Authorisation to raise funds.
In force	17A. Programme of operations and structural organisation
In force	17B. Initial capital
In force	17C. Effective direction of business and place of head office
In force	17D. Members
In force	17DA. Assessment of suitability of shareholders or members
In force	17DB. Waiver for credit institutions permanently affiliated to central body
In force	17E. Refusal of authorisation
In force	17F. Prior consultation of competent authorities
	Part III Powers of a Building Society (ss. 18-36)
In force	18. Power to raise funds and borrow money.
In force	18A. Relationship framework.
In force	19. Death of shareholder or depositor.
In force	20. Premises.
In force	21. Holding and developing land.
In force	22. Housing loans.
In force	23. Other loans.
In force	24. Tiered interest rates.
In force	25. Assessment of security for loans.
In force	26. Sale or retention of mortgaged property.
In force	27. Discharge of mortgage.
In force	28. Investment in and support of bodies corporate, etc.
In force	29. Financial services.
In force	30. Bonds and sureties.
In force	31. Conveyancing services.
In force	32. Services relating to land.
In force	33. Power to operate outside the State.
In force	34. Power to hedge.
In force	35. Prohibition on linking services.
In force	36. Exercise of powers.
	Part IV Control and Supervision of Building Societies by Central Bank (ss. 37-47)
In force	37. Duty of the Central Bank as respects building societies.
In force	38. Supply of mortgage finance.
In force	39. Asset and liability ratios and structures.
In force	40. Revocation of authorisation and giving of direction by Central Bank.
Repealed	41. Power to investigate business activities of building societies and related bodies.
In force	41A. Central Bank may require society or body to provide information relating to business activities.
In force	42. Control of advertising.
In force	43. Power of Court to prohibit certain contraventions of Act.
Repealed	44. Disclosure of information.
In force	45. Appointment of inspector and calling of special meeting.
In force	46. Provisions supplemental to section 45.
In force	47. Inspectors' reports and proceedings thereon.
	Part V Management of Building Societies (ss. 48-66)
In force	48. Directors.
In force	49. Chief executive and secretary.
In force	50. Directors: appointment and retirement.
In force	51. Directors: supplementary provisions as to elections, etc.
In force	52. Connected persons.
In force	53. Disclosure by directors of interests in contracts.
In force	54. Contracts of employment of directors.
In force	55. Inspection of directors' service contracts.
In force	56. Substantial property transactions involving directors and connected persons.
In force	57. Restrictions on loans etc. to directors and connected persons.
In force	58. Sanctions for breach of section 57.
In force	59. Records of loans etc. falling within section 57.
In force	60. Record and disclosure of certain business.
In force	61. Particulars of directors' salaries etc. to be given in accounts.
In force	62. Prohibition of tax-free payments.
In force	63. Directors' names on business letters.
In force	64. Disqualification of certain persons from acting as directors or auditors of or managing building societies.
In force	65. Register of members.
In force	66. Register of directors, etc.
	Part VI Meetings, Resolutions, Voting, etc. (ss. 67-75)
In force	67. Annual general meeting.
In force	68. Notice of meetings.
In force	69. Members' entitlement to vote on resolutions.
In force	70. Special resolutions.
In force	71. Conversion resolutions.
In force	71A. Resolutions for special investment shares.
In force	72. Proxies.
In force	73. Right to demand a poll.
In force	74. Members' right to propose and circulate resolutions.
In force	75. Postal ballots.
	Part VII Accounts and Audit (ss. 76-90)
In force	76. Accounting records, systems of business control and keeping of title deeds.
In force	77. Annual accounts.
In force	78. Directors' report.
In force	79. Summary financial statement.
In force	80. Display of statement.
In force	81. Signing of balance sheet.
In force	82. Documents to be laid before annual general meeting.
In force	83. Appointment and removal of auditors.
In force	84. Resolutions relating to appointment and removal of auditors.
In force	85. Resignation of auditors.
In force	86. Requisitioning of general meeting of society by resigning auditor.
In force	87. Qualifications for appointment as auditor.
In force	88. Auditors' report, right of access to books and to attend general meeting.
In force	89. Duties of auditor.
In force	90. Penalty for false statements to auditors.
	Part VIII Disputes and Complaints (ss. 91-92)
In force	91. Settlement of disputes.
In force	92. Investigation of complaints.
	Part IX Savings Protection (ss. 93-94)
Repealed	93. Deposit at Central Bank.
Repealed	94. Protection of shareholders' and depositors' funds.
	Part X Amalgamations and Transfers of Engagements (ss. 95-99)
In force	95. Amalgamation of societies.
In force	96. Transfer of engagements.
In force	97. Statement for members relating to proposed amalgamation or transfer of engagements.
In force	98. Confirmation of amalgamation or transfer.
In force	99. Compensation for loss of office and bonuses to members.
	Part XI Conversion to Public Limited Company (ss. 100-108A)
In force	100. Interpretation of this Part.
In force	101. Conversion of a society to a public limited company.
In force	101A.
In force	101B. Joint shareholders.
In force	101C. Disposal of successor company.
In force	102. Protective provisions.
In force	103. Conversion statement.
In force	104. Confirmation and registration of conversion scheme by Central Bank.
In force	105. Petition to High Court against conversion scheme.
In force	106. Registration of society as a company.
In force	107. Consequential provisions on conversion of society.
In force	108. Conversion regulations.
In force	108A. Application of certain enactments to building societies.
	Part XII Winding up, etc. (ss. 109-112)
In force	109. Winding up.
In force	110. Cancellation of registration.
In force	111. Liability of officers of society to penalty where proper accounting records not kept.
In force	112. Personal liability of officers of society where proper accounting records not kept.
	Part XIII Miscellaneous (ss. 113-127)
In force	113. Financial year of a society.
In force	114. Liability of officer.
In force	115. Court's power to grant relief to an officer of a society.
In force	116. Provisions as to evidence.
In force	117. Form of registers, records, etc.
In force	118. Exemption from stamp duty.
In force	119. Offences.
In force	120. Furnishing false information, etc.
In force	121. Judgments against a society.
In force	122. Public file to be kept in respect of society.
In force	123. Subsidy by Minister in respect of interest on housing loans made by a society.
In force	124. Savings and transitional provisions.
In force	125. Transfer of functions to Central Bank.
In force	126. Amendments to the Bankers' Books Evidence Acts, 1879 and 1959, and the Bills of Exchange Act, 1882.
In force	127. Recognition of building society accounts.
In force	First Schedule Enactments Repealed
In force	Second Schedule Provisions applicable as respects the memorandum and rules
In force	Third Schedule Supplementary provisions in relation to authorisation
In force	Fourth Schedule Supplementary provisions in relation to withdrawal of an authorisation
Repealed	Fifth Schedule Supplementary provisions in relation to a direction by the Central Bank under Section 40

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