Central Bank Act 1942

F353 [ When decisions of the F354 [ Bank ] under this Part take effect.

33AW

33AW. (1) A decision of the F354 [ Bank ] imposing a caution or reprimand takes effect

( a ) if no appeal against the decision is lodged with the Appeals Tribunal within the period allowed for lodging such an appeal at the end of that period, or

( b ) if such an appeal is lodged with the Appeals Tribunal within that period and the decision is confirmed by that Tribunal (with or without variation) at the time when the period allowed for lodging an appeal with the High Court against that decision has ended, no appeal having been lodged within that period, or

( c ) if such an appeal is lodged with the Appeals Tribunal within that period but is later withdrawn at the time of the withdrawal of the appeal, or

( d ) if an appeal is made to the High Court against the determination of the Appeals Tribunal in respect of the decision and, on the hearing of the appeal by that Court, that determination is confirmed (with or without variation) at the time of confirmation of that determination, or

( e ) if an appeal is made to the High Court against the determination of the Appeals Tribunal but is later withdrawn at the time of the withdrawal of the appeal.

(2) A decision of the F354 [ Bank ] directing payment of a monetary penalty, a refund of money or costs takes effect

( a ) if

(i) the amount of the penalty, refund or costs is not paid to the F354 [ Bank ] within the period allowed for appeals against such a decision, and

(ii) no appeal to the Appeals Tribunal is lodged within that period or, having been lodged within that period, is later withdrawn,

at the time when the decision is confirmed by an order of a court of competent jurisdiction,

or

( b ) if such an appeal is lodged with the Appeals Tribunal within that period and the decision is confirmed by that Tribunal (with or without variation) at the time when the period allowed for lodging an appeal with the High Court against the determination of that Tribunal in respect of the decision has ended, no appeal having been lodged within that period, or

( c ) if such an appeal is lodged with the Appeals Tribunal within that period but is later withdrawn at the time of the withdrawal of the appeal, or

( d ) if an appeal is made to the High Court against the determination of the Appeals Tribunal in respect of the decision and, on the hearing of the appeal by that Court, that determination is confirmed (either with or without variation) at the time of confirmation of that determination, or

( e ) if an appeal is made to the High Court against the decision of that Tribunal but is later withdrawn at the time when the appeal is withdrawn.

(3) A disqualification direction takes effect

( a ) if no appeal to the Appeals Tribunal is lodged within the period allowed for bringing such an appeal, or is lodged within that period but is later withdrawn at the time when it is confirmed by an order of a District Court, or

( b ) if such an appeal is lodged with the Appeals Tribunal within that period and the direction is confirmed by that Tribunal at the time when the period allowed for lodging an appeal in the High Court against the determination of that Tribunal in respect of the direction has ended, no appeal having been lodged within that period, or

( c ) if such an appeal is lodged within that period but is later withdrawn at the time when the appeal is withdrawn, or

( d ) if an appeal is made to the High Court against the determination of the Appeals Tribunal in respect of the direction and, on the hearing of the appeal by that Court, that determination is confirmed (with or without variation) at the time of confirmation of that determination, or

( e ) if an appeal is made to the High Court against the determination of the Appeals Tribunal but is later withdrawn, at the time when the appeal is withdrawn.

(4) Any other decision of the F354 [ Bank ] under this Part takes effect

( a ) if no appeal against the decision is lodged with the Appeals Tribunal within the period allowed for lodging such an appeal, at the end of that period, or

( b ) if such an appeal is lodged with the Appeals Tribunal within that period and the decision is confirmed by that Tribunal (with or without variation) at the time when the period allowed for lodging an appeal with the High Court against the determination of that Tribunal in respect of the decision has ended, no appeal having been lodged within that period, or

( c ) if such an appeal is lodged with the Appeals Tribunal within that period but is later withdrawn at the time of the withdrawal of the appeal, or

( d ) if an appeal is made to the High Court against the determination of the Appeals Tribunal in respect of the decision and, on the hearing of the appeal by that Court, that determination is confirmed (with or without variation) at the time of confirmation of that determination, or

( e ) if an appeal is made to the High Court against the determination of the Appeals Tribunal in respect of the decision but is later withdrawn at the time of the withdrawal of the appeal.

(5) A court of competent jurisdiction may hear an application by the F354 [ Bank ] under this section otherwise than in public if

( a ) evidence may be given, or a matter may arise, during the hearing that is of a confidential nature or relates to the commission, or to the alleged or suspected commission, of an offence against a law of the State, or

( b ) a person s reputation would be unfairly prejudiced unless the court exercises its discretion under this section. ]

Annotations:

Amendments:

F353

Inserted (1.08.2004) by Central Bank and Financial Services Authority of Ireland Act 2004 (21/2004), s. 10, S.I. No. 455 of 2004, subject to transitional provisions in s. 35 and sch. 5.

F354

Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14(2)(a), S.I. No. 469 of 2010.