Central Bank Act 1942

2

F1[Interpretation.

2.(1) In this Act, unless the context otherwise requires

F2[]

"Appeals Tribunal" means the Irish Financial Services Appeals Tribunal established by section 57C;

F3[]

F4["appointed member" or "appointed member of the Commission" means a member of the Commission referred to in section 18CA(1)(b);]

F5["associated entity" in relation to a financial service provider, means

(a) a holding company of the financial service provider, or

(b) a subsidiary company of the financial service provider, or

(c) a company that is a subsidiary of a body corporate, if the financial service provider is also a subsidiary of the body, but neither company is a subsidiary of the other, or

(d) if a financial service provider is a company, any other body corporate that is not a subsidiary of the company but in respect of which the company is beneficially entitled to more than 20 per cent of the nominal value of either

(i) the allotted share capital, or

(ii) the shares carrying voting rights (other than voting rights which arise only in specified circumstances) in that other body corporate,

or

(e) a partnership or joint venture in which the financial service provider has a financial interest;]

"approved stock exchange" means a stock exchange approved under section 9 of the Stock Exchange Act 1995;

F6["Bank" means the Central Bank of Ireland;]

F7[]

F8["Capital Requirements Regulation" means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 as amended by—

(a) Commission Delegated Regulation (EU) 2015/62 of 10 October 201414 amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the leverage ratio,

(b) Regulation (EU) 2016/1014 of the European Parliament and of the Council of 8 June 201615 amending Regulation (EU) No 575/2013 as regards exemptions for commodity dealers,

(c) Commission Delegated Regulation (EU) 2017/2188 of 11 August 201716 amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds,

(d) Regulation (EU) 2017/2395 of the European Parliament and of the Council of 12 December 201717 amending Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds and for the large exposures treatment of certain public sector exposures denominated in the domestic currency of any Member State,

(e) Regulation (EU) 2017/2401 of the European Parliament and of the Council of 12 December 201718 amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms,

(f) Commission Delegated Regulation (EU) 2018/405 of 21 November 201719 correcting certain language versions of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,

(g) Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 201920 amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures,

(h) Regulation (EU) 2019/876 of the European Parliament and of the Council of 20 May 201921 amending Regulation (EU) No 575/2013 as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, reporting and disclosure requirements, and Regulation (EU) No 648/2012,

(i) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 201922 on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014, and

(j) Regulation (EU) 2020/873 of the European Parliament and of the Council of 24 June 202023 amending Regulations (EU) No 575/2013 and (EU) 2019/876 as regards certain adjustments in response to the COVID-19 pandemic; ]

"Central Bank Acts" means the Central Bank Acts 1942 to 1998 and includes any later Act that is to be construed as one with those or any of those Acts;

F9["Commission" means the Central Bank Commission;]

"consolidated bank note" has the same meaning as in the Currency Act 1927;

F10[]

F10[]

"credit union" has the meaning given by the Credit Union Act 1997;

"Currency Act 1927" means that Act as adapted in consequence of the Constitution;

F11["Deputy Financial Services and Pensions Ombudsman" means a person appointed under section 8(1)(b) of the Financial Services and Pensions Ombudsman Act 2017 (No. 22 of 2017);]

F12[]

F13["designated enactments" means, subject to subsection (2A), the enactments specified in Part 1 of Schedule 2 and the statutory instruments made under any of those enactments;]

"designated statutory instruments" means the statutory instruments specified in Part 2 of Schedule 2;

F14[]

F15["ECB" means the European Central Bank;]

F5["EEA country" means a country that is a member of the European Economic Area;]

"employee", in relation to the Bank, includes the F16[Secretary of the Bank];

"enactment" includes any instrument made under an enactment;

"ESCB Statute" means the Statute of the European System of Central Banks and of the European Central Bank as set out in Protocol (No. 3) (annexed by the Treaty on European Union done at Maastricht on February 1992) to the Rome Treaty;

F17["ex-officio member" or "ex-officio member of the Commission" means a member of the Commission referred to in section 18CA(1)(a);]

"financial futures and options exchange" has the meaning given by section 97 of the Central Bank Act 1989;

"financial services" include financial products;

F18["Financial Services and Pensions Ombudsman" means a person appointed under section 8(1)(a) of the Financial Services and Pensions Ombudsman Act 2017 (No. 22 of 2017);]

F5[F19[]

"financial service provider" means a person who carries on a business of providing one or more financial services;]

"financial year" means a period of 12 months ending on 31 December or, if the Minister, by order notified in Iris Oifigiúil, has prescribed a different period for the purposes of this Act, that other period;

"function" includes duty;

F20["general fund" means the fund referred to in section 32F;]

"Governor" means the person holding office as the Governor of the Bank, and includes

(a) any person appointed to act as Governor in accordance with section 22, and

(b) the F21[Head of Central Banking] when carrying out responsibilities of the Governor in accordance with section 22A;

F22["Head of Central Banking", "Head of Financial Regulation" and "Head of Function" shall be construed in accordance with section 23;]

F5["holding company" means a company that has one or more subsidiary companies;]

"law" includes the Rome Treaty and the ESCB Statute;

"local authority" means a local authority for the purposes of the Local Government Act 2001;

F23["member" or "member of the Commission" means an appointed member or an ex-officio member;]

"Minister" means the Minister for Finance;

F24["officer" means each Head of Function, the Secretary of the Bank and the Registrar of Credit Unions;]

F25[]

"power" includes right and privilege;

F5["publication", in relation to a report or other document, includes publishing the report or document in an accessible form on an Internet website;]

"record" means any record of information, however compiled, recorded or stored, and includes

(a) any book, a register and any other document containing information,and

(b) any disc, tape or other article from which information is capable of being produced in any form capable of being reproduced visually or aurally;

F26["regulated financial service provider" means

(a) a financial service provider whose business is subject to regulation by the Bank under this Act or under a designated enactment or a designated statutory instrument,

(b) a financial service provider whose business is subject to regulation by an authority that performs functions in an EEA country that are comparable to the functions performed by the Bank under this Act or under a designated enactment or designated statutory instrument, or

F15[(bb) a financial service provider whose business is subject to supervision by the ECB under a designated F27[enactment;]]

(c) F28[]]

"the regulations" means regulations made by the Minister under section 61A and in force under this Act;

F29[]

F30["Rome Treaty" means the Treaty on the Functioning of the European Union done at Rome on 25 March 1957, as amended by the Treaty of Lisbon amending the Treaty on European Union and the Treaty establishing the European Community signed at Lisbon on 13 December 2007;]

F31["SRB" means the Single Resolution Board established under Article 42 of the SRM Regulation;

"SRM Regulation" means Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 20142 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010;]

F15["SSM Framework Regulation" means Regulation (EU) No. 468/2014 of the European Central Bank of 16 April 20144 establishing the framework for co-operation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities;]

F15["SSM Regulation" means Council Regulation (EU) No. 1024/2013 of 15 October 20133 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions;]

F5["subsidiary company" has the meaning given by section 2A;

"voting rights" means

(a) in relation to a company that has a share capital, the rights conferred on shareholders by virtue of their shares, or

(b) in relation to a company that does not have a share capital, the rights conferred on members,

to vote at general meetings of the company on all, or substantially all, matters.]

(2) In this Act

(a) a reference to an enactment is, unless the context otherwise requires, a reference to that enactment as amended or extended by or under any subsequent enactment (including this Act), and

(b) a reference to a section is a reference to a section of this Act unless it is indicated that a reference to some other enactment is intended, and

(c) a reference to a subsection, paragraph or subparagraph is a reference to the subsection, paragraph or subparagraph of the provision in which the reference occurs, unless it is indicated that reference to some other provision is intended.

F32[(2A) The following shall be taken to be designated enactments:

(a) Commission Regulation (EC) No 1287/2006 of 10 August 20062;

(b) Regulation (EC) No 924/2009 of the European Parliament and of the Council of 16 September 20093;

(c) Commission Delegated Regulation (EU) No 231/2013 of 19 December 20124;

(d) Commission Implementing Regulation (EU) No 447/2013 of 15 May 20135;

(e) Commission Implementing Regulation (EU) No 448/2013 of 15 May 20136;

F33[F34[(f) the Capital Requirements Regulation;]

(g) Commission Implementing Regulation (EU) No 1249/2012 of 19 December 20127;

(h) Commission Delegated Regulation (EU) No 152/2013 of 19 December 20128;

(i) Commission Delegated Regulation (EU) No 153/2013 of 19 December 20129;

F15[(j) Regulation (EU) 648/2012 of the European Parliament and of the Council of 4 July 20125;

(k) the SSM Regulation;

F35[(l) the SSM Framework Regulation;

(m) Regulation (EU) No 346/2013 of the European Parliament and of the Council of 17 April 20132;]]]]

F36[(n) Regulation (EU) No 345/2013 of the European Parliament and of the Council of 17 April 20132;]

F37[(o) Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II)32;

(p) Commission Implementing Regulation (EU) 2015/460 of 19 March 2015 laying down implementing technical standards with regard to the procedure concerning the approval of an internal model in accordance with Directive 2009/138/EC of the European Parliament and of the Council33;

(q) Commission Implementing Regulation (EU) 2015/461 of 19 March 2015 laying down implementing technical standards with regard to the process to reach a joint decision on the application to use a group internal model in accordance with Directive 2009/138/EC of the European Parliament and of the Council34;

(r) Commission Implementing Regulation (EU) 2015/462 of 19 March 2015 laying down implementing technical standards with regard to the procedures for supervisory approval to establish special purpose vehicles, for the co-operation and exchange of information between supervisory authorities regarding special purpose vehicles as well as to set out formats and templates for information to be reported by special purpose vehicles in accordance with Directive 2009/138/EC of the European Parliament and of the Council35;

(s) Commission Implementing Regulation (EU) 2015/498 of 24 March 2015 laying down implementing technical standards with regard to the supervisory approval procedure to use undertaking-specific parameters in accordance with Directive 2009/138/EC of the European Parliament and of the Council36;

(t) Commission Implementing Regulation (EU) 2015/499 of 24 March 2015 laying down implementing technical standards with regard to the procedures to be used for granting supervisory approval for the use of ancillary own-fund items in accordance with Directive 2009/138/EC of the European Parliament and of the Council37;

F38[(u) Commission Implementing Regulation (EU) 2015/500 of 24 March 2015 laying down implementing technical standards with regard to the procedures to be followed for the supervisory approval of the application of a matching adjustment in accordance with Directive 2009/138/EC of the European Parliament and of the Council37;]]

(v) Regulation (EU) No 2015/760 of the European Parliament and of the Council of F39[29 April 2015;3

F40[(va) Commission Delegated Regulation No 1125/2014 of 19 September 2014 supplementing Directive 2014/17/EU of the European Parliament and of the Council with regard to regulatory technical standards on the minimum monetary amount of the professional indemnity insurance or comparable guarantee to be held by F41[credit intermediaries2;]]

F42[(w) the SRM Regulation;

(x) Regulation (EU) No. 260/2012 of the European Parliament and of the Council of 14 March 20128;

(y) Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC9;

(z) Commission Delegated Regulation (EU) 2016/522 of 17 December 201510;

(aa) Commission Delegated Regulation (EU) 2016/908 of 26 February 201611;

(ab) Commission Delegated Regulation (EU) 2016/909 of 1 March 201612;

(ac) Commission Delegated Regulation (EU) 2016/957 of 9 March 201613;

(ad) Commission Delegated Regulation (EU) 2016/958 of 9 March 201614;

(ae) Commission Delegated Regulation (EU) 2016/523 of 10 March 201615;

(af) Commission Delegated Regulation (EU) 2016/347 of 10 March 201616;

(ag) Commission Delegated Regulation (EU) 2016/378 of 11 March 201617;

(ah) Commission Delegated Regulation (EU) 2016/959 of 17 May 201618;

(ai) Commission Delegated Regulation (EU) 2016/960 of 17 May 201619;

(aj) Commission Delegated Regulation (EU) 2016/1052 of 8 March 201620;

F43[(ak) Commission Implementing Regulation (EU) 2016/1055 of 29 June 20163;]]

F44[(al) Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 20144.]

F45[(am) each of the acts adopted by an institution of the European Union specified in Schedule 9 (inserted by the European Union (Markets in Financial Instruments) (Amendment) Regulations 2017);]

F46[(an) Regulation (EU) 2015/847 of the European Parliament and of the Council of 20 May 20151;]

F47[(ao) Regulation (EU) No 2015/2365 of the European Parliament and of the Council of 25 November 20154;]

F48[(ap) Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 20141;

(aq) Commission Delegated Regulation (EU) 2017/653 of 8 March 20173;]

F49[(ar) Regulation (EU) No. 2016/1011 of the European Parliament F50[and of the Council of 8 June 2016;]7

F51[(as) Commission Delegated Regulation (EU) 2017/2055 of 23 June 2017 supplementing Directive (EU) 2015/2366 of the European Parliament and of the Council with regard to regulatory technical standards for the cooperation and exchange of information between competent authorities relating to the exercise of the right of establishment and the freedom to provide services of payment F52[institutions;]36

F53[(at) each of the acts adopted by the European Commission specified in Schedule 10 (inserted by the European Union (Detailed Technical Measures Designation) Regulations F54[2018 and the European Union (Insurance Distribution) Regulations 2018)];]

F55[(au) Regulation (EU) 2017/1131 of the European Parliament and of the Council of 14 June F56[20172;]]

F57[(av) Regulation (EU) 2017/2402 of the European Parliament F58[and of the Council of 12 December 2017;]23

F59[(aw) Commission Delegated Regulation (EU) 2018/389 of F60[of 27 November 2017;]2

F61[(ax) Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017;1

(ay) Commission Delegated Regulation (EU) 2019/979 of 14 March 2019;5

(az) Commission Delegated Regulation (EU) 2019/980 of 14 March F62[2019;6

F63[(ba) Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November F64[20193;]]

F65[(bb) Council Regulation (EC) No. 1338/2001 of 28 June 20011 laying down measures necessary for the protection of the euro against counterfeiting, as amended by Council Regulation (EC) No. 44/2009 of 18 December 20082;

(bc) Regulation (EU) No. 1210/2010 of the European Parliament and of the Council of 15 December 20103 concerning authentication of euro coins and handling of euro coins unfit for circulation;

(bd) Decision ECB/2010/14 of the European Central Bank of 16 September 20104 on the authenticity and fitness checking and recirculation of euro banknotes, as amended by Decision ECB/2012/19 of 7 September 20125 and by Decision ECB/2019/2195 of F66[5 December 20196;]]

F67[(be) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November F68[20193;]]

F69[(bf) Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October F70[20203;]]

F71[(bg) Regulation (EU) No 2019/1238 of the European Parliament and Council of 20 June 20193.]

(3) A function or responsibility imposed, or a power conferred, on a person by a provision of this Act is not to be taken to be limited merely by implication from another provision, whether of this or any other Act, that imposes a function or responsibility, or confers a power, on that person.]

F5[(4) For the purposes of this Act, a person is concerned in the management of a body corporate, or a firm, that is a regulated financial service provider if the person is in any way involved in directing, managing or administering the affairs of the body or firm.

(5) In this Act, a reference to the directors of a company, in relation to a company that does not have a board of directors, is a reference to the persons responsible for directing the operations of the company.]

F72[(6) References in this Act to a regulated financial service provider shall, unless the context otherwise requires, be read as including a person who was a regulated financial service provider at the relevant time.]

Annotations

Amendments:

F1

Substituted (1.05.2003) by Central Bank and Financial Services Authority of Ireland Act 2003 (12/2003), s. 3, S.I. No. 160 of 2003, subject to transitional provisions in s. 36 and sch. 3.

F2

Deleted (31.10.2014) by Competition and Consumer Protection Act 2014 (29/2014), s. 87(a), S.I. 366 of 2014.

F3

Deleted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 2, S.I. No. 469 of 2010.

F4

Inserted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 1, S.I. No. 469 of 2010.

F5

Inserted (1.08.2004) by Central Bank and Financial Services Authority of Ireland Act 2004 (21/2004), s. 2(a)-(f), (i) and (j), S.I. No. 455 of 2004, subject to transitional provisions in s. 35 and sch. 5.

F6

Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 3, S.I. No. 469 of 2010.

F7

Deleted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 3, S.I. No. 469 of 2010.

F8

Inserted (28.12.2020) by European Union (Capital Requirements) (No. 2) (Amendment) Regulations 2020 (S.I. No. 711 of 2020), reg. 5(a)(i), in effect as per reg. 1(2).

F9

Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 4, S.I. No. 469 of 2010.

F10

Deleted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 5, S.I. No. 469 of 2010.

F11

Inserted (1.01.2018) by Financial Services and Pensions Ombudsman Act 2017 (22/2017), s. 75(a)(ii), S.I. No. 524 of 2017.

F12

Deleted (1.01.2018) by Financial Services and Pensions Ombudsman Act 2017 (22/2017), s. 75(a)(i), S.I. No. 524 of 2017.

F13

Substituted (1.08.2013) by Central Bank (Supervision and Enforcement) Act 2013 (26/2013), s. 5 and sch. 2 pt. 1 item 1(a), S.I. No. 287 of 2013.

F14

Deleted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 7, S.I. No. 469 of 2010.

F15

Inserted and substituted (4.11.2014) by European Union (Single Supervisory Mechanism) Regulations 2014 (S.I. No. 495 of 2014), reg. 4.

F16

Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 8, S.I. No. 469 of 2010.

F17

Inserted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 9, S.I. No. 469 of 2010.

F18

Inserted (1.01.2018) by Financial Services and Pensions Ombudsman Act 2017 (22/2017), s. 75(a)(iii), S.I. No. 524 of 2017.

F19

Deleted (1.01.2018) by Financial Services and Pensions Ombudsman Act 2017 (22/2017), s. 75(a)(i), S.I. No. 524 of 2017.

F20

Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 10, S.I. No. 469 of 2010.

F21

Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 11, S.I. No. 469 of 2010.

F22

Inserted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 12, S.I. No. 469 of 2010.

F23

Inserted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 13, S.I. No. 469 of 2010.

F24

Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 14, item 14, S.I. No. 469 of 2010.

F25

Deleted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 15, S.I. No. 469 of 2010.

F26

Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1 pt. 1 item 16, S.I. No. 469 of 2010.

F27

Substituted (1.01.2018) by Financial Services and Pensions Ombudsman Act 2017 (22/2017), s. 75(a)(iv)(I), S.I. No. 524 of 2017.

F28

Deleted (1.01.2018) by Financial Services and Pensions Ombudsman Act 2017 (22/2017), s. 75(a)(iv)(II), S.I. No. 524 of 2017).

F29

Deleted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 17, S.I. No. 469 of 2010.

F30

Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 18, S.I. No. 469 of 2010.

F31

Inserted (1.01.2016) by European Union (Single Resolution Mechanism) Regulations 2015 (S.I. No. 568 of 2015), reg. 3(a), in effect as per reg. 1(2).

F32

Substituted (31.03.2014) by European Union (Capital Requirements) (No. 2) Regulations 2014 (S.I. No. 159 of 2014), reg. 4.

F33

Substituted and inserted (8.10.2014) by European Union (European Markets Infrastructure) Regulations 2014 (S.I. No. 443 of 2014), reg. 38(a).

F34

Substituted (28.12.2020) by European Union (Capital Requirements) (No. 2) (Amendment) Regulations 2020 (S.I. No. 711 of 20202), reg. 5(a)(ii), in effect as per reg. 1(2).

F35

Substituted and inserted (20.05.2015) by European Union (European Social Entrepreneurship Funds) Regulations 2015 (S.I. No. 166 of 2015), reg. 4(1).

F36

Substituted (9.12.2015) by European Union (European long-term investment funds) Regulations 2015 (S.I. No. 554 of 2015), reg. 4(a).

F37

Inserted (1.01.2016) by European Union (Insurance and Reinsurance) Regulations 2015 (S.I. No. 485 of 2015), reg. 311(1), in effect as per reg. 1(2), subject to exception as per reg. 1(3).

F38

Substituted (9.12.2015) by European Union (Interchange Fees for Card-based Payment Transactions) Regulations 2015 (S.I. No. 550 of 2015), reg. 11(a), in effect as per reg. 1(2).

F39

Substituted (21.03.2016) by European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (S.I. No. 142 of 2016), reg. 45(a), in effect as per reg. 2.

F40

Inserted (21.03.2016) by European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (S.I. No. 142 of 2016), reg. 45(b), in effect as per reg. 2.

F41

Substituted (26.04.2016) by European Union (Requirements for Credit Transfers and Direct Debits in Euro) (Amendment) Regulations 2016 (S.I. No. 204 of 2016), reg. 7(a).

F42

Substituted (3.07.2016) by European Union (Market Abuse) Regulations 2016 (S.I. No. 349 of 2016), reg. 51(a), in effect as per reg. 1(2).

F43

Substituted (16.09.2016) by European Union (Central Securities Depositories) Regulations 2016 (S.I. No. 481 of 2016), reg. 12(a)(i), in effect as per reg. 1(2).

F44

Inserted (16.09.2016) by European Union (Central Securities Depositories) Regulations 2016 (S.I. No. 481 of 2016), reg. 12(a)(ii), in effect as per reg. 1(2).

F45

Inserted (3.01.2018) by European Union (Markets in Financial Instruments) (Amendment) Regulations 2017 (S.I. No. 614 of 2017), reg. 32(a), in effect as per reg. 1(2).

F46

Inserted (19.12.2017) by European Union (Information Accompanying Transfers of Funds) Regulations 2017 (S.I. No. 608 of 2017), reg. 14(a).

F47

Inserted (22.12.2017) by European Union (Securities Financing Transactions) Regulations 2017 (S.I. No. 631 of 2017), reg. 31(a).

F48

Inserted (31.12.2017) by European Union (Key Information Documents for Packaged Retail and Insurance-based Investment Products (PRIIPS)) Regulations 2017 (S.I. No. 629 of 2017), reg. 8(a), in effect as per reg. 1(2).

F49

Inserted (1.01.2018) by European Union (Indices Used as Benchmarks in Financial Instruments and Financial Contracts or to Measure the Performance of Investment Funds) Regulations 2017 (S.I. No. 644 of 2017), reg. 27(a), in effect as per reg. 1(2)

F50

Substituted (13.01.2018) by European Union (Payment Services) Regulations 2018 (S.I. No. 6 of 2018), reg. 145(a)(i), in effect as per reg. 1(2).

F51

Inserted (13.01.2018) by European Union (Payment Services) Regulations 2018 (S.I. No. 6 of 2018), reg. 145(a)(ii), in effect as per reg. 1(2).

F52

Substituted (23.04.2018) by European Union (Detailed Technical Measures Designation) Regulations 2018 (S.I. No. 130 of 2018), reg. 2(a)(i).

F53

Inserted (23.04.2018) by European Union (Detailed Technical Measures Designation) Regulations 2018 (S.I. No. 130 of 2018), reg. 2(a)(ii).

F54

Substituted (1.10.2018) by European Union (Insurance Distribution) Regulations 2018 (S.I. No. 229 of 2018), reg. 54(a), in effect as per reg. 1(2).

F55

Inserted (21.07.2018) by European Union (Money Market Funds) Regulations 2018 (S.I. No. 269 of 2018), reg. 5(a), in effect as per reg. 1(2).

F56

Substituted (1.01.2019) by European Union (General Framework for Securitisation and Specific Framework for Simple, Transparent and Standardised Securitisation) Regulations 2018 (S.I. No. 656 of 2018), reg. 31(a)(i), in effect as per reg. 1(2).

F57

Inserted (1.01.2019) by European Union (General Framework for Securitisation and Specific Framework for Simple, Transparent and Standardised Securitisation) Regulations 2018 (S.I. No. 656 of 2018), reg. 31(a)(ii), in effect as per reg. 1(2).

F58

Substituted (7.06.2019) by European Union (Payment Services) (Amendment) Regulations 2019 (S.I. No. 255 of 2019), reg. 6(a).

F59

Inserted (7.06.2019) by European Union (Payment Services) (Amendment) Regulations 2019 (S.I. No. 255 of 2019), reg. 6(b).

F60

Substituted (21.07.2019) by European Union (Prospectus) Regulations 2019 (S.I. No. 380 of 2019), reg. 39(a)(i), in effect as per reg. 1(2).

F61

Inserted (21.07.2019) by European Union (Prospectus) Regulations 2019 (S.I. No. 380 of 2019), reg. 39(a)(ii), in effect as per reg. 1(2).

F62

Substituted (29.03.2021) by European Union (Sustainability-related Disclosures in the Financial Services Sector) Regulations 2021 (S.I. No. 146 of 2021), reg. 5(a)(i).

F63

Inserted (29.03.2021) by European Union (Sustainability-related Disclosures in the Financial Services Sector) Regulations 2021 (S.I. No. 146 of 2021), reg. 5(a)(ii).

F64

Substituted (3.08.2021) by European Union (Counterfeiting of Euro) Regulations 2021 (S.I. No. 408 of 2021), reg. 2(a)(i), in effect as per reg. 1(2).

F65

Inserted (3.08.2021) by European Union (Counterfeiting of Euro) Regulations 2021 (S.I. No. 408 of 2021), reg. 2(a)(ii), in effect as per reg. 1(2).

F66

Substituted (21.09.2021) by European Union (Investment Firms) (No. 2) Regulations 2021 (S.I. No. 356 of 2021), reg. 4(a)(i).

F67

Inserted (21.09.2021) by European Union (Investment Firms) (No. 2) Regulations 2021 (S.I. No. 356 of 2021), reg. 4(a)(ii).

F68

Substituted (13.12.2021) by European Union (Crowdfunding) Regulations 2021 (S.I. No. 702 of 2021), reg. 11(a)(i).

F69

Inserted (13.12.2021) by European Union (Crowdfunding) Regulations 2021 (S.I. No. 702 of 2021), reg. 11(a)(ii).

F70

Substituted (28.08.2022) by European Union (Pan - European Personal Pension Product) Regulations 2022 (S.I. No. 435 of 2022), reg. 10(a)(i).

F71

Inserted (28.08.2022) by European Union (Pan - European Personal Pension Product) Regulations 2022 (S.I. No. 435 of 2022), reg. 10(a)(ii).

F72

Inserted (1.08.2013) by Central Bank (Supervision and Enforcement) Act 2013 (26/2013), s. 5 and sch. 2 pt. 1 item 1(b), S.I. No. 287 of 2013.

F73

Substituted by Counterfeiting Act 2021 (16/2021), s. 29(a)(i), not commenced as of date of revision.

F74

Inserted by Counterfeiting Act 2021 (16/2021), s. 29(a)(ii), not commenced as of date of revision.

Modifications (not altering text):

C17

Prospective affecting provision: subs. (2A)(az) amended and (ba), (bb), (bc) inserted by Counterfeiting Act 2021 (16/2021), s. 29(a)(i)m, (ii), not commenced as of date of revision. These amendments are superseded by the amendments made by European Union (Counterfeiting of Euro) Regulations 2021 (S.I. No. 408 of 20201) above.

(az) Commission Delegated Regulation (EU) 2019/980 of F73[14 March F62[2019;6

F74[(ba) Council Regulation (EC) No. 1338/2001 of 28 June 2001 laying down measures necessary for the protection of the euro against counterfeiting, as amended by Council Regulation (EC) No. 44/2009 of 18 December 2008;

(bb) Regulation (EU) No. 1210/2010 of the European Parliament and of the Council of 15 December 2010 concerning authentication of euro coins and handling of euro coins unfit for circulation;

(bc) Decision ECB/2010/14 of the European Central Bank of 16 September 2010 on the authenticity and fitness checking and recirculation of euro banknotes, as amended by Decision ECB/2012/19 of 7 September 2012 and by Decision ECB/2019/2195 of 5 December 2019.]

C18

Definition of “regulated financial service provider” extended for purposes of Part IIIC (31.03.2014) by European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014), reg. 54(4).

Administrative penalties and other administrative measures for breaches of authorisation requirements and requirements for acquisitions of qualifying holdings

54.— ...

(4) Notwithstanding the definition of regulated financial service provider as provided for in the Act of 1942, a person that engages in conduct listed in paragraph (2) shall be treated as a regulated financial services provider for the purposes of Part IIIC of the Act of 1942.

C19

Definition of “regulated financial service provider” extended (1.04.2005) by Central Bank Act 1942 (Financial Services Ombudsman) Regulations 2005 (S.I. No. 191 of 2005), reg. 2, subject to saver in reg. 3.

Extension of definition of “regulated financial services provider” for the purposes of Part VIIB of the Central Bank Act 1942 (Financial Services Ombudsman)

2. The following classes of persons are specified as being regulated financial service providers for the purposes of paragraph (c) of the definition of “regulated financial service provider” in section 2(1) of the Central Bank Act 1942 (as amended by section 2 of the Central Bank and Financial Services Authority of Ireland Act 2004 ):

(a) credit intermediaries who are required to be authorised by the Director of Consumer Affairs under Part IX of the Consumer Credit Act 1995 (No. 24 of 1995);

(b) pawnbrokers who are required to be authorised by the Director of Consumer Affairs under Part XV of the Consumer Credit Act 1995;

(c) creditors with respect to the performance of their obligations under the Consumer Credit Act 1995 and under the contract for the provision of credit to a consumer, and under any contract of guarantee relating to the provision of that credit;

(d) owners of goods that are subject to a hire-purchase agreement under a hire-purchase agreement with respect to the performance of their obligations under the Consumer Credit Act 1995 and under the agreement, and under any contract of guarantee relating to the agreement or any right to recover the goods from the hirer under the agreement;

(e) owners of goods that are subject to a consumer-hire agreement with respect to the performance of their obligations under the Consumer Credit Act 1995 and under the agreement, and under any contract of guarantee relating to the agreement or any right to recover the goods from the hirer under the agreement;

(f) mortgage lenders within the meaning of section 2 of the Consumer Credit Act 1995;

(g) the Voluntary Health Insurance Board established under the Voluntary Health Insurance Act 1957 (No. 1 of 1957).

Saving

3. Nothing in Regulation 2 affects the application of the provisions of the Central Bank Act 1942 (apart from Part VIIB) to any of the classes of persons mentioned in that Regulation to the extent (if any) that those classes fall within paragraph (a) or (b) of the definition of “regulated financial service provider” in section 2(1) of the Central Bank Act 1942 (as amended by section 2 of the Central Bank and Financial Services Authority of Ireland Act 2004).

Editorial Notes:

E9

Conduct for purpose of treatment of person as "regulated financial service provider" for purpose of Part IIIC specified (31.03.2014) by European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014), reg. 54(2).

E10

Previous affecting provision: subs. (2A)(ak), (al) amended and (am) inserted (3.01.2017) by European Union (Markets in Financial Instruments) Regulations 2017 (S.I. No. 375 of 2017), reg. 131(a), in effect as per reg. 1(2); revoked (31.12.2017) by European Union (Markets in Financial Instruments) (Amendment) Regulations 2017 (S.I. No. 614 of 2017), reg. 26, in effect as per reg. 1(3)

E11

Previous affecting provision: subs. (2A)(ak) substituted (3.07.2016) by European Union (Market Abuse) Regulations 2016 (S.I. No. 349 of 2016), reg. 51(a), in effect as per reg. 1(2); substituted as per F-note above.

E12

Previous affecting provision: subs. (2A)(w) amended (26.04.2016) by European Union (Requirements for Credit Transfers and Direct Debits in Euro) (Amendment) Regulations 2016 (S.I. No. 204 of 2016), reg. 7(b); substituted as per F-note above.

E13

Previous affecting provision: subs. (2A)(x) amended (26.04.2016) by European Union (Requirements for Credit Transfers and Direct Debits in Euro) (Amendment) Regulations 2016 (S.I. No. 204 of 2016), reg. 7(c). ; substituted as per F-note above.

E14

Previous affecting provision: subs. (2A)(w) amended (1.01.2016) by European Union (Single Resolution Mechanism) Regulations 2015 (S.I. No. 568 of 2015), reg. 3(b), in effect as per reg. 1(2); substituted as per F-note above.

E15

Previous affecting provision: subs. (2A)(v) substituted (9.12.2015) by European Union (European long-term investment funds) Regulations 2015 (S.I. No. 554 of 2015), reg. 4(a); substituted as per F-note above.

E16

Previous affecting provision: subs. (2A)(v) inserted (9.12.2015) by European Union (Interchange Fees for Card-based Payment Transactions) Regulations 2015 (S.I. No. 550 of 2015), reg. 11(a), in effect as per reg. 1(2); substituted as per F-note above.

E17

Previous affecting provision: subs. (2A)(n) inserted (20.05.2015) by European Union (European Venture Capital Funds) Regulations 2015 (S.I. No. 167 of 2015), reg. 4(1); substituted as per F-note above.

E18

Previous affecting provision: subs. (2A)(j) inserted (8.10.2014) by European Union (European Markets Infrastructure) Regulations 2014 (S.I. No. 443 of 2014), reg. 38(a); substituted as per F-note above.

E19

Previous affecting provision: subs. (2A)(f) substituted (31.03.2014) by European Union (Capital Requirements) (No. 2) Regulations 2014 (S.I. No. 159 of 2014), reg. 4; substituted as per F-note above.

E20

Previous affecting provision: definition of “Agency” inserted (1.05.2007) by Consumer Protection Act 2007 (19/2007), s. 94(2), S.I. No. 178 of 2007; deleted as per F-note above.

E21

Previous affecting provision: definition of “regulated financial service provider” inserted (1.08.2004) by Central Bank and Financial Services Authority of Ireland Act 2004 (21/2004), s. 2(g), S.I. No. 455 of 2004; substituted as per F-note above.

E22

Previous affecting provision: definition of “Rome treaty” amended (1.08.2004) by Central Bank and Financial Services Authority of Ireland Act 2004 (21/2004), s. 2(h), S.I. No. 455 of 2004; substituted as per F-note above.

E23

Previous affecting provision: subs. (2A) amended (16.07.2013) by European Union (Alternative Investment Fund Managers) Regulations 2013 (S.I. No. 257 of 2013), reg. 63(1); substituted as per F-note above.

E24

Previous affecting provision: subs. (2A) inserted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14 and sch. 1, pt. 1, item 19, S.I. No. 469 of 2010, substituted as per F-note above.

E25

Previous affecting provision: definition of Deputy Financial Services Ombudsman inserted (1.08.2004) by Central Bank and Financial Services Authority of Ireland Act 2004 (21/2004), s. 2(b), S.I. No. 455 of 2004, subject to transitional provisions in s. 35 and sch. 5; deleted as per F-note above.