Central Bank Act 1942

F396[F397[Bank] may hold inquiry into conduct of regulated financial service provider or person concerned in its management.

F398[33AO. (1) Whenever the Bank, after considering the final report of an investigation, and any submissions, provided to it under section 33ANK(5), suspects on reasonable grounds that the person to whom the investigation related is committing or has committed a prescribed contravention, it may hold an inquiry to determine whether or not the person is committing or has committed the contravention.

(2) Whenever the Bank, after considering the final report of an investigation, and any submissions, provided to it under section 33ANK(5), suspects on reasonable grounds that the person to whom the investigation related is participating or has participated, while performing a relevant controlled function, in the commission by a regulated financial service provider of a prescribed contravention, it may hold an inquiry to determine whether or not the person is participating or has participated in the contravention while performing a relevant controlled function.

(3) Without prejudice to the exercise of the Bank’s powers under subsection (2), an inquiry referred to in that subsection may form part of an inquiry held under this section in relation to the suspected commission of a prescribed contravention by the person or by the regulated financial service provider.]]

Annotations

Amendments:

F396

Inserted (1.08.2004) by Central Bank and Financial Services Authority of Ireland Act 2004 (21/2004), s. 10, S.I. No. 455 of 2004, subject to transitional provisions in s. 35 and sch. 5.

F397

Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14(2)(a), S.I. No. 469 of 2010.

F398

Substituted (19.04.2023) by Central Bank (Individual Accountability Framework) Act 2023 (5/2023), s. 44, S.I. No. 176 of 2023, subject to transitional provisions in s. 93.

Editorial Notes:

E186

Previous affecting provision: subs. (2) amended (1.08.2013) by Central Bank (Supervision and Enforcement) Act 2013 (26/2013), s. 67(a), S.I. No. 287 of 2013; section substituted (19.04.2023) as per F-note above.

E187

Previous affecting provision: subs. (3) inserted (1.08.2013) by Central Bank (Supervision and Enforcement) Act 2013 (26/2013), s. 67(b), S.I. No. 287 of 2013; section substituted (19.04.2023) as per F-note above.

E188

Inquiry under section listed as exception to rule against identity disclosure (1.08.2013) by Central Bank (Supervision and Enforcement) Act 2013 (26/2013), s. 40(5)(b)(i), S.I. No. 287 of 2013.