Central Bank Act 1942
F432[Financial service provider etc. not to be liable to be penalised twice for same contravention.
33AT.—(1) If the F433[Bank] imposes a monetary penalty F434[on a person] in accordance with section 33AQ or 33AR and the prescribed contravention in respect of which the sanction is imposed is an offence under a law of the State, the F435[person] is not liable to be prosecuted or punished for the offence under that law.
(2) The F433[Bank] may not impose a monetary penalty on a F435[person], in accordance with section 33AQ or 33AR, if—
(a) the F436[…] person has been charged with having committed an offence under a law of the State and has either been found guilty or not guilty of having committed the offence, and
(b) the offence involves a prescribed contravention.]
Annotations
Amendments:
F432
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.
F433
Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14(2)(a), S.I. No. 469 of 2010.
F434
Inserted (19.04.2023) by Central Bank (Individual Accountability Framework) Act 2023 (5/2023), s. 50(a)(i), S.I. No. 176 of 2023.
F435
Substituted (19.04.2023) by Central Bank (Individual Accountability Framework) Act 2023 (5/2023), s. 50(a)(ii), (b)(i), S.I. No. 176 of 2023.
F436
Deleted (19.04.2023) by Central Bank (Individual Accountability Framework) Act 2023 (5/2023), s. 50(b)(ii), S.I. No. 176 of 2023.