Economic and Monetary Union Act, 1998
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Chapter II Euro Currency System | ||
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Introduction of euro currency system. |
6.—(1) The Central Bank Act, 1989 , is hereby amended by the substitution for section 24 (as amended by section 13 of the Central Bank Act, 1998 ) of the following: | |
“24.—By virtue of Council Regulation (EC) No 974/98 of 3 May 1998 on the introduction of the euro, from the 1st day of January, 1999— | ||
(a) the currency of the State is the euro, and | ||
(b) the Irish pound unit (within the meaning of the Economic and Monetary Union Act, 1998) is a subdivision of the euro.” | ||
(2) The Act of 1969 is hereby amended in section 2 by the substitution of the following for subsection (2): | ||
“(2) The Irish pound and the penny shall be legal denominations or units of money in Irish currency.”. |