Central Bank Act 1942

F420 [ Duty of F421 [ Bank ] to give reasons on request.

57N

57N. (1) If the F421 [ Bank ] has made an appealable decision, an affected person may make a written request to F421 [ the Bank ] for a statement setting out the reasons for the decision.

(2) As soon as practicable, but in any case not later than 28 days, after receiving such a request, the F421 [ Bank ] shall prepare a written statement of reasons for the decision and give it to the person who made the request.

(3) The statement of reasons must specify

( a ) the findings on material questions of fact, referring to the evidence or other material on which those findings were based, and

( b ) the F421 [ Bank ] s understanding of the applicable law, and

( c ) the reasoning processes that led F421 [ the Bank ] to the conclusions that it came to. ]

Annotations:

Amendments:

F420

Part VIIA (ss. 57A-57AZ) inserted (1.08.2004) by Central Bank and Financial Services Authority of Ireland Act 2003 (12/2003), s. 28, S.I. No. 454 of 2004, subject to transitional provisions in s. 36 and sch. 3.

F421

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