§ Mr. HORNERasked whether, in the event of the Government of Ireland Bill becoming law, the Irish Parliament will be able to enact that the notes of any specified bank or banks carrying on business in Ireland shall be legal tender to 1550 any particular amount or for any particular class of transaction or generally?
§ The PRIME MINISTERThe answer is in the negative in view of Clause 2 (9).
§ Mr. HORNERasked whether, in the event of the Government of Ireland Bill becoming law, the Irish Parliament will have power to enact that in order to effect a legal transfer in Ireland of Consols, or any other security, such transfer must be made through a particular Irish bank specified in such enactment?
§ The PRIME MINISTERThe answer is in the negative unless the security is such that the transfer is a matter exclusively relating to Ireland. This would not be the case with Consols.
§ Mr. HORNERasked whether, in the event of the Government of Ireland Bill becoming law, the Irish Parliament will have power to enact that any particular bank now in existence or hereafter created shall become the only bank in Ireland through which all or any of the transactions in which the Irish Government shall be financially interested must be carried on?
§ The PRIME MINISTERThe answer is in the affirmative.
§ Mr. HORNERasked whether, in the event of the Government of Ireland Bill becoming law, the Irish Parliament will have power to rescind, alter, or modify the laws under which banking companies in Ireland at present carry on business; whether it will have power to enact new laws dealing with banking; and whether it will have power to give to any present bank, or to one which may hereafter be established, the right to issue notes to any extent the Irish Parliament may determine?
§ The PRIME MINISTERThe answer is in each case in the affirmative, subject to the provisions of Clause 2 (9).