Central Bank Act, 1989.

Amendment of section 27 of Act of 1971.

43.—Section 27 of the Act of 1971 is hereby amended:

(a) by the insertion of the following subsection after subsection (2):

“(2A) If an advertisement or other solicitation for deposits is published and it does not include the name and address of the person who arranged with the publisher for the advertisement or solicitation, then the Bank may, at any time within the period of twelve months after any publication of the advertisement, request the publisher to supply the name and address of that person to the Bank and the publisher shall forthwith comply with that request.”;

(b) by the substitution of the following subsection for subsection (3):

“(3) (a) In this section ‘deposits’ does not include deposits with a trader by persons employed by him in his trading business or by his customers in the normal course of his trading business or deposits in respect of the letting or selling of goods under a hire-purchase agreement or a credit-sale agreement.

(b) Reference in this section or section 58 (3) of this Act (as amended by section 9 of the Central Bank Act, 1989) to the solicitation of deposits, however expressed, includes every form of solicitation for deposits including, in particular, the display or publication of any such matter by way of notice, leaflet, circular, pamphlet, brochure, photograph, film, video, sound broadcasting, television, electronic communication or personal canvassing.”.