Central Bank Act 1942

F363[Application of Part under Bank Recovery and Resolution Directive.

33ANE

33ANE. (1) For the purposes of this section, "designated entity" shall include the following:

(a) a financial holding company;

(b) a mixed financial holding company;

(c) a mixed-activity holding company;

(d) a parent financial holding company in a Member State;

(e) a parent mixed financial holding company in a Member State;

(f) a parent undertaking of an institution;

(g) a Union branch;

(h) a Union parent financial holding company;

(i) a Union parent mixed financial holding company.

(2) This Part applies in relation to

(a) the commission or suspected commission by a designated entity of a contravention of

(i) a provision of the Bank Recovery and Resolution Regulations,

(ii) any direction given to a designated entity under a provision of the Regulations referred to in subparagraph (i),

(iii) any requirement imposed on a designated entity under a provision of the Regulations referred to in subparagraph (i) or under any direction given to a designated entity under a provision of those Regulations, or

(iv) any obligation imposed on a designated entity by this Part or imposed by the Bank pursuant to a power exercised under this Part,

and

(b) participation, by a person concerned in the management of a designated entity in the commission by the designated entity of such a contravention.

(3) For the purposes of this section

(a) a reference in this Part to a regulated financial service provider or a financial service provider includes a reference to a designated entity,

(b) a reference in this Part to a prescribed contravention includes a reference to a contravention, by a designated entity of a provision, direction, requirement or obligation referred to in subsection (2), and

(c) a reference in this Part to a person concerned in the management of a regulated financial service provider includes a reference to a person concerned in the management of a designated entity.

(4) Nothing in this section limits the application of this Part in relation to matters other than those referred to in subsection (2).

(5) In this section

(a) "Bank Recovery and Resolution Regulations" means the European Union (Bank Recovery and Resolution) Regulations 2015 (S.I. No. 289 of 2015);

(b) "financial holding company", "mixed financial holding company", "mixed-activity holding company", "parent financial holding company in a Member State", "parent mixed financial holding company in a Member State", "parent undertaking", "Union branch", "Union parent financial holding company" and "Union parent mixed financial holding company" have the meanings assigned to them, respectively, in the Bank Recovery and Resolution Regulations.]

Annotations

Amendments:

F363

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