Central Bank Act 1942

F390[Application of Part to holding companies under Part 3 of Central Bank Reform Act 2010

33ANH. (1) This Part applies in relation to—

(a) the commission or suspected commission by a financial holding company, mixed financial holding company, insurance holding company or investment holding company of a contravention of—

(i) a provision of Part 3 of the Central Bank Reform Act 2010,

(ii) a direction given to the company concerned under Part 3 of the Central Bank Reform Act 2010,

(iii) any requirement imposed on the company concerned under a provision of Part 3 of the Central Bank Reform Act 2010, or

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

and

(b) participation by a person, while concerned in the management of a financial holding company, mixed financial holding company, insurance holding company or investment holding company, in the commission by the company concerned of such a contravention.

(2) For the purposes of subsection (1)—

(a) a reference in this Part to a regulated financial service provider or a financial service provider includes a reference to a financial holding company, mixed financial holding company, insurance holding company or investment holding company,

(b) a reference in this Part to a prescribed contravention includes a reference to a contravention, by a financial holding company, mixed financial holding company, insurance holding company or investment holding company, of a provision, direction, requirement or obligation referred to in subsection (1), and

(c) a reference in this Part to performing a controlled function in relation to a regulated financial service provider includes a reference to being concerned in the management of a financial holding company, mixed financial holding company, insurance holding company or investment holding company.

(3) References in subsections (1) and (2) to a financial holding company, mixed financial holding company, insurance holding company or investment holding company do not include references to a regulated financial service provider which is such a company.

(4) In this section—

"financial holding company" and "mixed financial holding company" have the same meaning as in section 33ANC;

"insurance holding company" has the same meaning as in section 33ANF;

"investment holding company" has the same meaning as in section 33ANG.]

Annotations

Amendments:

F390

Inserted (19.04.2023) by Central Bank (Individual Accountability Framework) Act 2023 (5/2023), s. 42, S.I. No. 176 of 2023.

Editorial Notes:

E185

The section heading is taken from the amending section in absence of one included in the amendment.