Central Bank Act, 1997
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Amendment of Consumer Credit Act, 1995 . |
36.—The Consumer Credit Act, 1995 , is hereby amended— | |
(a) by the insertion after section 149 of the following section: | ||
“149A—(1) Section 149 shall apply to a person who has been granted an authorisation by the Central Bank under Part V of the Central Bank Act, 1997, to carry on bureau de change business, as if— | ||
(a) each reference to ‘credit institution’ were a reference to ‘a person authorised to carry on bureau de change business under Part V of the Central Bank Act, 1997’, | ||
(b) the reference to ‘three months’ in subsection (1) were a reference to ‘three months after the granting of an authorisation under Part V of the Central Bank Act, 1997,’, | ||
(c) the reference to ‘banking or financial business’ in subsection (7) (a) were a reference to ‘bureau de change business’, | ||
(d) the reference to ‘banking or financial business’ in subsection (8) (a) (ii) were a reference to ‘bureau de change business’, and | ||
(e) subsection (12) (c), (d) and (e) were repealed. | ||
(2) Nothing in this section shall cause a person authorised to carry on bureau de change business under Part V of the Central Bank Act, 1997, to be treated as a credit institution for any purpose other than as specified in this section.”, | ||
and | ||
(b) by the insertion, in section 150, after “credit institution” of “or of a person authorised to carry on bureau de change business under Part V of the Central Bank Act, 1997.”. |