Central Bank (Supervision and Enforcement) Act 2013

24.

Appointment of authorised officers.

24.— (1) Where it is necessary to do so for the purpose of the performance by the Bank of its functions under financial services legislation relating to the proper and effective regulation of financial service providers, the Bank may appoint any of its officers or employees or other suitably qualified persons to be authorised officers and to exercise any of the powers conferred by this Chapter.

(2) The Bank may revoke any appointment made by it under subsection (1).

(3) An appointment or revocation under this section shall be in writing.

(4) A person’s appointment by the Bank as an authorised officer ceases on the earliest of—

( a) the revocation by the Bank of the appointment,

( b) in a case where the appointment is for a specified period, the expiration of the period,

( c) the person's resignation from the appointment, and

( d) in the case where the person is an officer or employee of the Bank—

(i) the resignation of the person as an officer or employee of the Bank, or

(ii) the termination of the person's employment with the Bank, or when the person's term of office ceases, for any reason.

(5) Whenever requested to do so by the Bank, an authorised officer shall give to the Bank a report on the exercise by him or her of all or any of the powers conferred on an authorised officer by this Chapter.

(6) In this section “suitably qualified person” means any person (other than an officer or employee of the Bank) who, in the opinion of the Bank, has the qualifications and experience necessary to exercise the powers conferred on an authorised officer by this Chapter.