Important: Transfer of business of ICS to Bank of Ireland

06/08/2014 12:03:08

Important Notice to Practitioners: From ICS Building Society (ICS) and The Governor and Company of the Bank of Ireland (Bank of Ireland).

We would like to advise you of the transfer of the business of ICS (the Transferor) to Bank of Ireland (the Transferee), pursuant to SI 257 of 2014 made by the Minister for Finance [Central Bank Act 1971 (Approval of Scheme of Transfer between ICS Building Society and The Governor and Company of the Bank of Ireland) Order, 2014)], to take effect on 1 September 2014, or such later date as may be agreed between the Transferor and the Transferee pursuant to the scheme.

Arising from the above statutory transfer scheme, we would request you to comply with the following:

(a)   Cheques: as and from 1 September 2014, any cheque received in respect of an ICS Redemption or in respect of an ICS Accountable Trust Receipt Fee must be made payable to Bank of Ireland. Failure to do so may result in delays.

(b)   Execution of Solicitor Pack Documents: ICS Documentation executed on or after 1 September 2014 will not be accepted. On or after 1 September 2014, the Bank of Ireland Documentation Pack must be executed by the Borrower(s) and the Solicitor, as required. Failure to do so may cause a delay in the drawdown of the loan. The Documentation Packs for Bank of Ireland can be ordered by calling 01 611 3333.

From the transfer date, any correspondence with you will come from Bank of Ireland. If you wish to make contact with us, the same correspondence address and normal contact numbers will continue to apply as currently apply for Bank of Ireland

Please also note: Bank of Ireland Mortgage Bank, a subsidiary of Bank of Ireland, issues its own separate Execution Documentation Pack to solicitors for mortgage loans that it provides. Please ensure that the correct Execution Documentation Pack is used for each of Bank of Ireland Mortgage Bank and Bank of Ireland after the transfer date.