Central Bank Act 1997

F102[Offence to fail to comply with certain conditions and requirements.

35

35.—(1) The holder of an authorisation shall comply with—

(a) the requirements imposed on holders of authorisations by this Part, and

(b) the conditions (if any) of the authorisation, and

(c) the requirements (if any) imposed by regulations in force under this Part.

(2) A person who fails to comply with subsection (1) commits an offence and—

(a) if tried summarily, is liable on conviction to a fine not exceeding €2,000, or

(b) if tried on indictment, is liable on conviction to a fine not exceeding €75,000.]

Annotations:

Amendments:

F102

Substituted (1.01.2005) by Central Bank and Financial Services Authority of Ireland Act 2004 (21/2004), s. 27, S.I. No. 455 of 2004, art. 2 and sch. part 3(b), subject to transitional provisions in sch. 5.

Editorial Notes:

E41

A fine of €2,000 translates into a class C fine, not exceeding €2,500, as provided (4.01.2011) by Fines Act 2010 (8/2010), ss. 3, 6(3) and table ref. no. 1, S.I. No. 662 of 2010.