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ARTICLE · 09 MAY 1995

The Stock Exchange Bill

European Federal Credit Bank Limited
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IrelandCorporate/Commercial Law
Johnny Johnson
Johnny Johnson

The Stock Exchange Bill ("the Bill") published towards the end of 1994 is expected to be passed and brought into force to coincide with the planned timing of the separation of The Irish Stock Exchange ("ISE") from The London Stock Exchange.

Essentially, the Bill empowers the Central Bank to:

(i) supervise stock exchanges;

(ii) authorise and supervise stock exchange member firms; and

(iii) exercise its investigatory powers.

The Bill also sets out the requirements for approval as a stock exchange, including, in particular, that it should have a broadly based board of directors to secure a balance between the interests of member firms, users of the ISE services and the public interest.

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