Central Bank Act 1942

F325 [ Application of Part under Bank Recovery and Resolution Directive.

33ANE

33ANE. (1) For the purposes of this section, designated entity shall include the following:

( a ) a financial holding company;

( b ) a mixed financial holding company;

( c ) a mixed-activity holding company;

( d ) a parent financial holding company in a Member State;

( e ) a parent mixed financial holding company in a Member State;

( f ) a parent undertaking of an institution;

( g ) a Union branch;

( h ) a Union parent financial holding company;

( i ) a Union parent mixed financial holding company.

(2) This Part applies in relation to

( a ) the commission or suspected commission by a designated entity of a contravention of

(i) a provision of the Bank Recovery and Resolution Regulations,

(ii) any direction given to a designated entity under a provision of the Regulations referred to in subparagraph (i),

(iii) any requirement imposed on a designated entity under a provision of the Regulations referred to in subparagraph (i) or under any direction given to a designated entity under a provision of those Regulations, or

(iv) any obligation imposed on a designated entity by this Part or imposed by the Bank pursuant to a power exercised under this Part,

and

( b ) participation, by a person concerned in the management of a designated entity in the commission by the designated entity of such a contravention.

(3) For the purposes of this section

( a ) a reference in this Part to a regulated financial service provider or a financial service provider includes a reference to a designated entity,

( b ) a reference in this Part to a prescribed contravention includes a reference to a contravention, by a designated entity of a provision, direction, requirement or obligation referred to in subsection (2), and

( c ) a reference in this Part to a person concerned in the management of a regulated financial service provider includes a reference to a person concerned in the management of a designated entity.

(4) Nothing in this section limits the application of this Part in relation to matters other than those referred to in subsection (2).

(5) In this section

( a ) Bank Recovery and Resolution Regulations means the European Union (Bank Recovery and Resolution) Regulations 2015 ( S.I. No. 289 of 2015 );

( b ) financial holding company , mixed financial holding company , mixed-activity holding company , parent financial holding company in a Member State , parent mixed financial holding company in a Member State , parent undertaking , Union branch , Union parent financial holding company and Union parent mixed financial holding company have the meanings assigned to them, respectively, in the Bank Recovery and Resolution Regulations. , ]

Annotations:

Amendments:

F325

Inserted (15.07.2015) by European Union (Bank Recovery and Resolution) Regulations 2015 (S.I. No. 289 of 2015), reg. 185(d), in effect as per reg. 1(2).