(1) Before the incorporation of a company under the Companies Act, 1963, which, if incorporated, would, in the opinion of the registrar of companies, within the meaning of that Act, be holding itself out as a banker or have as one of its objects in its memorandum of association the carrying on of banking business, the registrar shall notify the Bank of the delivery to him of the memorandum and articles, within the meaning of that Act, of the company and shall not give a certificate of incorporation under that Act in respect of the company unless and until the Bank indicates to the registrar its willingness to grant a licence to the company or to exempt it under section 8 of this Act.

(2) If, on delivery of documents under section 352 of the Companies Act 1963, or under regulation 4 or 7 of the European Communities (Branch Disclosures) Regulations 1993 (S.I. No. 395 of 1993), it appears to the registrar of companies that the company to which those documents relate -

(a) would be holding itself out as carrying on business as a banker in the State, or

(b) would have as one of its objects in its memorandum of association the carrying on of banking business in the State,