S.I. No. 306/1975:

REGULATION OF BANKS (REMUNERATION AND CONDITIONS OF EMPLOYMENT) (TEMPORARY PROHIBITION OF INCREASES AND AMENDMENTS) ORDER, 1975.

REGULATION OF BANKS (REMUNERATION AND CONDITIONS OF EMPLOYMENT) (TEMPORARY PROHIBITION OF INCREASES AND AMENDMENTS) ORDER, 1975.

WHEREAS the banks (within the meaning of the Order following) have by the Agreement (within the meaning aforesaid) agreed, with effect from the 1st day of December, 1975, to pay increases of remuneration to employees of the banks and to amend or vary other terms and conditions of their employment so as to provide (in the case of each such amendment or variation) improved or more favourable terms and conditions of employment for them:

AND WHEREAS the banks (within the meaning aforesaid) have by the Agreement (within the meaning aforesaid) further agreed, with effect from the 1st day of March, 1976, to pay increases of remuneration to employees of the banks and to amend or vary other terms and conditions of their employment so as to provide (in the case of each such amendment or variation) improved or more favourable terms and conditions of employment for them:

NOW, I, MICHAEL O'LEARY, Minister for Labour, in exercise of the powers conferred on me by section 3 of the Regulation of Banks (Remuneration and Conditions of Employment) (Temporary Provisions) Act, 1975 (No. 27 of 1975), hereby order as follows:

1. This Order may be cited as the Regulation of Banks (Remuneration and Conditions of Employment) (Temporary Prohibition of Increases and Amendments) Order, 1975.

2. In this Order--

"the Agreement" means the agreement entitled AN AGREEMENT BETWEEN THE BANKS' STAFF RELATIONS COMMITTEE, ON BEHALF OF ITS MEMBER BANKS AND THE IRISH BANK OFFICIALS' ASSOCIATION, ON BEHALF OF ITS MEMBERS EMPLOYED BY THE BANKS IN THE REPUBLIC OF IRELAND ON THE REVISION OF SALARIES OF BANK OFFICIALS which was--

( a ) signed by the Chairman of the Banks' Joint Industrial Council (Republic of Ireland) on the 4th day of July, 1975,

( b ) signed on behalf of the Irish Bank Officials' Association on the 20th day of June, 1975, and

( c ) signed on behalf of the Banks' Staff Relations Committee on the 7th day of July, 1975,

and whose duration was expressed to be a period of twelve months from the 1st day of June, 1975;

"the Banks" means the following undertakings:

( a ) Allied Irish Banks Limited,

( b ) Northern Bank Limited,

( c ) The Governor and Company of the Bank of Ireland,

( d ) Ulster Bank Limited,

and any company (within the meaning of the Companies Act, 1963 (No. 33 of 1963)), which is, or if every undertaking aforesaid were a company (within the meaning aforesaid) would be, a subsidiary (within the meaning aforesaid) of any undertaking aforesaid.

3. The payment by the banks, on or after the 16th day of December, 1975, of the increases of remuneration of employees of the banks provided for, with effect from the 1st day of December, 1975, and the 1st day of March, 1976, respectively, by the Agreement is hereby prohibited.

4. The implementing or continued implementing by the banks, on or after the 16th day of December, 1975, of the amendments or variations of other terms and conditions of employment of employees of the banks provided for, with effect from the 1st day of December, 1975, and the 1st day of March, 1976, respectively, by the Agreement is hereby prohibited.

GIVEN under my Official Seal, this 15th day of December, 1975.

MICHAEL O'LEARY,

Minister for Labour.

EXPLANATORY NOTE.

This Order prohibits the Banks from paying to their employees for a period, as from 16th December, 1975, the remaining increases of remuneration provided for in the 1975 Banks' Pay Agreement. The Order contains similar provisions in relation to variations or amendments in the other terms or conditions of employment of Bank employees as set out in that Agreement.