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Allied Irish Banks Act 1993 (c. xiv)

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2Interpretation

(1)In this Act, unless the subject or context otherwise requires—

  • AIB” means Allied Irish Banks, p.l.c.;

  • AIB NI” means AIB Group Northern Ireland plc;

  • “the appointed day ” means such day as may be appointed under section 3 of this Act;

  • “excluded items” means—

    (a)

    documents required to be kept pursuant to the Companies Acts 1963 to 1990 of the Republic of Ireland;

    (b)

    shares in AIB Group Holdings (U.K.) Limited held or owned beneficially by AIB;

    (c)

    share capital and reserves of AIB;

    (d)

    such accounts as may on or before the appointed day be specified by the directors of AIB, being accounts in respect of which security is held outside the United Kingdom and in respect of which such security might, in the opinion of the directors of AIB, be prejudiced by the transfer of those accounts by this Act; and

    (e)

    the liability of AIB as guarantor under a loan agreement dated 9th August 1991 and made between AIB Holdings (N.I.) Limited as borrower and the other parties named therein;

  • “existing” means existing, outstanding or in force immediately before the appointed day;

  • “liabilities” includes duties and obligations of every description whether present or future, actual or contingent;

  • “the Northern Ireland banking business” means the business of AIB carried on through its head office and branches in Northern Ireland, except excluded items, including (without other limitation)—

    (a)

    all banking accounts maintained with AIB at any office or branch of AIB in Northern Ireland and all rights and liabilities of AIB in respect of those accounts;

    (b)

    the business of a bank of issue;

    (c)

    the rights, obligations and duties of AIB as an executor, administrator or trustee of—

    (i)

    any will, estate, settlement or trust the document evidencing which is held at a branch of AIB which is situate in Northern Ireland; or

    (ii)

    any debenture, debenture stock or loan stock;

    (d)

    all real property (of whatever tenure and wheresoever situate) held by AIB for the purposes of or in connection with the Northern Ireland banking business;

    (e)

    all other property and liabilities of AIB wheresoever situate held for or otherwise relating to the Northern Ireland banking business;

  • “property” means property and assets of every description and rights of every description (whether present or future, actual or contingent), and includes property held on trust and securities, benefits and powers of every description;

  • “security ” includes a mortgage or charge (whether legal or equitable), debenture, bill of exchange, promissory note, guarantee, lien, pledge (whether actual or constructive), hypothecation, assignment by way of security, indemnity, right of set-off, undertaking or other means of securing payment or discharge of a liability (whether present or future, actual or contingent); and

  • “will” includes a codicil and any other testamentary writing.

(2)Any reference in this Act to property or liabilities of AIB is a reference to property or liabilities to which AIB is for the time being entitled or subject (whether beneficially or in any fiduciary capacity), wherever such property or liabilties are situated or arise and whether or not capable of being transferred or assigned by AIB, and whether AIB is entitled or subject to the property or liabilities under the law of any part of the United Kingdom or under the law of any country or territory outside the United Kingdom.

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