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ARTICLE · 07 JANUARY 1999

EMU - Companies' Share Capital

European Federal Credit Bank Limited
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IrelandAntitrust/Competition Law
Johnny Johnson
Johnny Johnson
On 1 January 1999 the Euro will become the currency of Ireland. Between 1 January 1999 and 31 December 2001 ('the Transitional Period'), Irish pounds will remain legal tender and legal instruments may refer to Euro amounts or Irish pound amounts and, in general, payments are to be made in the currency expressed in the relevant legal instrument.

Certain institutions intend to conduct all their dealings in Euros from 1 January 1999. For example, equities quoted on the Irish Stock Exchange will be quoted and traded in the Euro from 1 January 1999. However, the nominal value of such equities may continue to be expressed in Irish pound amounts in the respective listed companies' Memoranda and Articles of Association until the end of the Transitional Period.

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