Bank of Ireland (UK) plc Act 2012

1 Citation and commencement

This Act may be cited as the Bank of Ireland (UK) plc Act 2012 and, subject to section 3, comes into operation on the date on which it is passed.

2 Interpretation

In this Act—

• “the 2009 Act” means the Banking Act 2009;

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

• “BOI(UK)” means Bank of Ireland (UK) plc;

• “the Bank of Ireland” means The Governor and Company of the Bank of Ireland;

• “the note issue enactments” means—

  (a)

  the Bank Charter Act 1844;

  (b)

  the Bankers (Ireland) Act 1845;

  (c)

  the Bank Notes (Ireland) Act 1864;

  (d)

  the Bank Notes (Ireland) Act 1920;

  (e)

  the Currency and Bank Notes Act 1928;

  (f)

  the Bankers (Northern Ireland) Act 1928;

  (g)

  Part 6 of the 2009 Act;

  (h)

  any regulations made under section 215 of the 2009 Act; and

  (i)

  any rules made by the Bank of England under such regulations.

3 Appointed day

(1) The board of BOI(UK) may appoint a day to be the appointed day for the purposes of this Act.

(2) Before the appointed day, BOI(UK) shall publish in the London Gazette and the Belfast Gazette notice of the day appointed, stating that it is the appointed day for the purposes of this Act.

(3) The publication of a notice under subsection (2) shall be conclusive evidence of that appointed day, and a photocopy or other reproduction, certified by an authorised officer of BOI(UK), of a page or part of a page of the London Gazette or the Belfast Gazette containing the notice shall be conclusive evidence of publication.

4 Right to issue banknotes to apply to BOI(UK)

(1) From the appointed day—

(a) BOI(UK) shall be an authorised bank for the purposes of Part 6 of the 2009 Act;

(b) the Bank of Ireland shall cease to be an authorised bank for those purposes; and

(c) for the purposes of any enactment (including section 26 of the Bankers (Ireland) Act 1845), BOI(UK) shall be deemed to be authorised to issue banknotes in Northern Ireland (including pre-appointment banknotes) in reliance on section 213 of the 2009 Act.

(2) Anything done by or to or in respect of the Bank of Ireland under the note issue enactments before the appointed day or any omission by the Bank of Ireland or failure by the Bank of Ireland to do something under the note issue enactments before that day shall, on and from that day, be treated, for the purposes of the note issue enactments, as having been done by or to or in respect of BOI(UK) or as having been an omission or failure by BOI(UK), as the case may be.

(3) From the appointed day, section 10 of the Bank Charter Act 1844 shall not apply to BOI(UK) in relation to the issuing of banknotes in Northern Ireland as authorised by subsection (1).

(4) From the appointed day, section 1 of the Bank Notes (Ireland) Act 1864 shall apply, so far as it relates to banknotes, as though for “the said Governor and Company” there were substituted “Bank of Ireland (UK) plc”.

(5) Any pre-appointment banknote shall, from the appointed day—

(a) be deemed to record an engagement by BOI(UK) to pay money to the bearer on demand instead of such an engagement by the Bank of Ireland; and

(b) be deemed to be a banknote of BOI(UK) for the purposes of the note issue enactments.

(6) On the appointed day, ownership by the Bank of Ireland of any preappointment banknotes that immediately before the appointed day were not in circulation transfers to BOI(UK).

(7) Nothing in this section shall affect the validity of any banknotes issued before the appointed day by the Bank of Ireland in accordance with the note issue enactments.

(8) In this section, a “pre-appointment banknote” means a Northern Ireland banknote of the Bank of Ireland which immediately before the appointed day was a “banknote” within the meaning of section 208 of the 2009 Act.

5 Disapplication of banknote regulations and rules

(1) No relevant regulation or rule shall apply to the Bank of Ireland as a consequence of the Bank of Ireland ceasing to be or intending to cease to be an authorised bank under section 4(1)(b).

(2) In subsection (1), a “relevant regulation or rule” means—

(a) a regulation made under section 215 of the 2009 Act; or

(b) a rule made by the Bank of England under any such regulation,

which makes provision about the case where an authorised bank ceases or intends to cease issuing banknotes voluntarily.

6 Saving for enactments concerning banking institutions

Except as provided in this Act, nothing in this Act shall exempt the Bank of Ireland or BOI(UK) or any subsidiary of BOI(UK) from the provisions of (or requirements or prohibitions imposed under) any enactment regulating the carrying on of the business of any of them.

7 Extent

This Act extends to Northern Ireland.