Building Societies Act, 1989
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PART IV Control and Supervision of Building Societies by Central Bank | ||
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Duty of the Central Bank as respects building societies. |
37.—(1) Subject to the general function and duty of the Central Bank under section 6 of the Central Bank Act, 1942 , the Bank shall administer the system of regulation and supervision of building societies provided for by or under this Act with a view to— | |
(a) the protection by each society of the funds of its shareholders and depositors, and | ||
(b) the maintenance of the financial stability and well being of societies generally. | ||
(2) The Central Bank shall have power to do anything which, in its opinion, is calculated to facilitate the exercise of its functions or is incidental or consequential to their exercise. | ||
(3) The report of the Central Bank under section 36 of the Currency Act, 1927 , shall contain a report on the exercise of its functions under this Act. |