Regulatory Alerts2022-05-27
Eastern Caribbean Central Bank Amendment Act
The Parliament of [Country] enacted the Eastern Caribbean Central Bank Amendment Act to modify the principal 1983 banking legislation. The amendment inserts a new section 4A immediately after section 4, stipulating that this Act prevails over any inconsistent enactments. This legislative update ensures regulatory consistency and clarifies the hierarchical authority of the central bank's governing framework.
1 20[ ] EASTERN CARIBBEAN CENTRAL ACT BANK (AMENDMENT) [COUNTRY] Act No of…….20[ ] BILL FOR AN ACT TO AMEND THE EASTERN CARIBBEAN CENTRAL BANK ACT, CHAPTER [ ] (Gazetted……………..201[ ]) [BE IT ENACTED by the Queen’s Most Excellent Majesty, by and with the advice and consent of the National Assembly of [Country], and by the authority of the same as follows:]/ [BE IT ENACTED BY the Parliament of Country] as follows:]/ [ENACTED by the Parliament of [Country] as follows:] Short title
- This Act may be cited as – EASTERN CARIBBEAN CENTRAL BANK (AMENDMENT) ACT 20[ ]. Interpretation
- In this Act – “principal Act” means the Eastern Caribbean Central Bank Act 1983;
2 Amendment of the Act 3. The principal Act is amended by inserting the following new section [ 4A ] immediately after section [ 4 ] - “Inconsistency with other legislation 4A. In the event of any inconsistency between the provisions of this Act and the operation of any other enactment, the provisions of this Act shall prevail to the extent of the inconsistency.” Passed in the House of Assembly this day of 20[ ].