S.I. No. 139/1976:

REGULATION OF BANKS (REMUNERATION AND CONDITIONS OF EMPLOYMENT) (TEMPORARY PROHIBITION OF INCREASES AND AMENDMENTS) ORDER, 1976.

REGULATION OF BANKS (REMUNERATION AND CONDITIONS OF EMPLOYMENT) (TEMPORARY PROHIBITION OF INCREASES AND AMENDMENTS) ORDER, 1976.

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, 1976 (No. 18 of 1976), 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, 1976.

2. The payment by the associated banks to their employees of remuneration at rates exceeding the rates of such remuneration provided for by the Agreement is hereby prohibited.

3. The making or implementing by the associated banks of any amendments or variations of the other terms or conditions of employment of their employees, as amended or varied by the Agreement, that would provide improved or more favourable terms or conditions of employment for them is hereby prohibited.

4. This Order shall expire on the 31st day of July, 1976.

GIVEN under my Official Seal, this 29th day of June, 1976.

MICHAEL O'LEARY,

Minister for Labour.

EXPLANATORY NOTE.

This Order prohibits the associated banks from paying to their employees, in the period up to 31st July, 1976, remuneration at rates in excess of those provided for by the 1975 Banks' Pay Agreement, as revised on 9th June, 1976. The Order contains a similar prohibition in relation to variations or amendments in the other terms or conditions of employment of employees of the associated banks other than those set out in the Agreement, as revised.