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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 March 2014 - onwards
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18. Power to raise funds and borrow money.

(1) Subject to section 17, a building society may raise funds including, with the approval of the Central Bank, funds in a currency other than the currency of the State, to be used for the objects of the society -

(a) by the issue of shares of one, or more than one, denomination, either with or without accumulating interest which do not constitute own funds, and may repay such funds,

(b) by the issue of -

(i) deferred, special investment or other shares, or

(ii) any other securities,

which in each case constitute own funds, and

(c) by receiving deposits or issuing securities or any other means (other than the issue of shares or securities of the kind referred to in paragraphs (a) and (b)).

(1A) Special investment shares shall be issued only to the Minister for Finance or to such other person as he or she may nominate, and that Minister may specify the terms and conditions on which special investment shares may be issued, including terms and conditions -

(a) that entitle the holder of t

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