Central Bank Act 1942

F171[Power to impose levies.

32D

32D.(1) The Commission may make regulations prescribing levies to be paid by persons who are subject to regulation under the designated enactments and designated statutory instruments.

(2) In particular, regulations under subsection (1) may provide for any of the following matters:

(a) the activities, services or other matters for which specified kinds of levies are payable;

(b) the persons, or classes of persons, who are required to pay specified kinds of levies;

(c) the amounts of specified kinds of levies;

(d) the periods for which, or the dates by which, specified levies are to be paid to the Bank;

(e) penalties payable by a person who does not pay a levy on time;

(f) the keeping of records, and the making of returns to the Bank, by persons who are liable to pay a specified levy;

(g) the collection and recovery of levies.

(3) Regulations made under this section do not take effect until approved by the Minister.

F172[(3A) A levy prescribed in relation to the functions of the resolution authority under the European Union (Bank Recovery and Resolution) Regulations 2015 (S.I. No. 289 of 2015) F173[or the SRM Regulation is to be fixed] so that the total amount of levy collected or recovered does not exceed the total costs incurred by the resolution authority, within the meaning of those Regulations, in performing its functions and exercising its powers under those Regulations.]

(4) A levy prescribed in relation to credit unions is to be fixed so that the total amount of levy collected or recovered from credit unions does not exceed the total costs incurred by the Bank in performing its functions and exercising its powers under the Credit Union Act 1997.

(5) The Bank may, by proceedings in a court of competent jurisdiction, recover as a debt an amount of levy payable under regulations in force under this section.

(6) The Bank may refund the whole or a part of a levy paid or payable under regulations in force under this section.

(7) The Commission may amend or revoke a regulation made under this section.

(8) An amendment or revocation of regulations made under this section does not take effect until approved by the Minister.

(9) In this section "levy" does not include a fee.]

Annotations

Amendments:

F171

Substituted and inserted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14(1) and sch. 1, part 1, item 39, S.I. No. 469 of 2010.

F172

Inserted (15.07.2015) by European Union (Bank Recovery and Resolution) Regulations 2015 (S.I. No. 289 of 2015), reg. 185(b), in effect as per reg. 1(2).

F173

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

Editorial Notes:

E74

Power pursuant to section exercised (6.09.2023) by Central Bank Act 1942 (Section 32D) Regulations 2023 (S.I. No. 438 of 2023), in effect as per reg. 1(2).

E75

Power pursuant to section exercised (10.07.2023) by Central Bank Act 1942 (Section 32D) (National Claims Information Database Levy) Regulations 2023 (S.I. No. 348 of 2023), in effect as per reg. 1(2).

E76

Power pursuant to section exercised (8.07.2023) by Central Bank Act 1942 (Section 32D) (Certain Financial Vehicles Dedicated Levy) (Amendment) Regulations 2023 (S.I. No. 351 of 2023), in effect as per reg. 1(2).

E77

Power pursuant to section exercised (31.08.2022) by Central Bank Act 1942 (Section 32D) Regulations 2022 (S.I. No. 426 of 2022), in effect as per reg. 1(2).

E78

Power pursuant to section exercised (8.07.2022) by Central Bank Act 1942 (Section 32D) (Certain Financial Vehicles Dedicated Levy) (Amendment) Regulations 2022 (S.I. No. 327 of 2022), in effect as per reg. 1(2).

E79

Power pursuant to section exercised (24.09.2021) by Central Bank Act 1942 (Section 32D) Regulations 2021 (S.I. No. 487 of 2021), in effect as per reg. 1(2).

E80

Power pursuant to section exercised (8.07.2021) by Central Bank Act 1942 (Section 32D) (Certain Financial Vehicles Dedicated Levy) Regulations 2021 (S.I. No. 335 of 2021), in effect as per subs. (2).

E81

Power pursuant to section exercised (4.09.2020) by Central Bank Act 1942 (Section 32D) Regulations 2020 (S.I. No. 345 of 2020), in effect as per reg. 1(2).

E82

Power pursuant to section exercised (29.01.2019) by Central Bank Act 1942 (Section 32D) (Additional And Supplementary Supervisory Levies - Regulated Entities) Regulations 2019 (S.I. No. 17 of 2019), in effect as per reg. 13.

E83

Power pursuant to section exercised (26.10.2018) by Central Bank Act 1942 (Section 32D) Regulations 2018 (S.I. No. 445 of 2018), in effect as per reg. 1(2).

E84

Previous affecting provision: power pursuant to section exercised (1.12.2017) by Central Bank Act 1942 (Section 32D) (Investment Funds - Additional Supervisory Levy) Regulations 2017 (S.I. No. 441 of 2017), in effect as per reg. 13; revoked (29.01.2019) by The Central Bank Act 1942 (Section 32D) (Additional And Supplementary Supervisory Levies - Regulated Entities) Regulations 2019 (S.I. No. 17 of 2019), reg. 14, in effect as per reg. 13.

E85

Previous affecting provision: power pursuant to section exercised (17.10.2017) by Central Bank Act 1942 (Section 32D) Regulations 2017 (S.I. No. 442 of 2017) for period 1.01.2017 to 31.12.2017, in effect as per reg. 1(2).

E86

Previous affecting provision: power pursuant to section exercised (4.10.2016) by Central Bank Act 1942 (Section 32D) Regulations 2016 (S.I. No. 508 of 2016) for period 1.01.2016 to 31.12.2016, in effect as per reg. 18.

E87

Previous affecting provision: power pursuant to section exercised (7.10.2015) by Central Bank Act 1942 (Section 32D) Regulations 2015 (S.I. No. 429 of 2015) for period 1.01.2015 to 31.12.2015, in effect as per reg. 18.

E88

Previous affecting provision: power pursuant to section exercised (17.07.2014) by Central Bank Act 1942 (Section 32D) Regulations 2014 (S.I. No. 335 of 2014) for period 1.01.2014 to 31.12.2014, in effect as per reg. 18.

E89

Previous affecting provision: power pursuant to section exercised (17.09.2013) by Central Bank Act 1942 (Section 32D) Regulations 2013 (S.I. No. 359 of 2013) for period 1.01.2013 to 31.12.2013.

E90

Previous affecting provision: power pursuant to section exercised (5.09.2012) by Central Bank Act 1942 (Section 32D) Regulations 2012 (S.I. No. 350 of 2012) for period 1.01.2012 to 31.12.2012.

E91

Previous affecting provision: power pursuant to section exercised (16.09.2011) by Central Bank Act 1942 (Section 32D) Regulations 2011 (S.I. No. 478 of 2011) for period 1.01.2011 to 31.12.2011.