149A.—(1) In this section—

"authorisation" means an authorisation granted by the Bank under Part V of the Central Bank Act 1997, to carry on a F216[regulated business].

(2) The holder of an authorisation or, subject to the Competition Act 1991, a group of holders of authorisations in respect of a service offered jointly by the group, shall notify the Bank of every proposal—

(a) to increase any charge which has been previously notified to the Bank, or

(b) to impose any charge in relation to the provision of a service to a customer or to a group of customers that has not been previously notified to the Bank.

(3) Every notification under subsection (2) must be accompanied by—

(a) subject to subsection (5), such fee as the Bank decides for each notification, being a fee that does not exceed the prescribed maximum amount, and

(b) a statement of the commercial justification for the proposal including a detailed statement of cost, and

(c) details of the estimated amount of additional income accruing from the proposal.

(4) For the purposes of subsection (3)(a), the prescribed maximum amount is—

(a) €31,750, or

(b) if some other amount is prescribed by regulations made for the purposes of this subsection — a fee of that other amount.

(5) The Bank may waive or reduce the fee if the payment of the fee would, in the opinion of the Bank, be unfair to the holder of the authorisation concerned, having regard to—

(a) the impact of any increase in or imposition of charges on customers, and

(b) the number of customers affected by any increase in or imposition of charges, and

(c) the additional income likely to accrue from any increase in, or imposition of, charges, and

(d) any other criteria that the Bank considers appropriate.

(6) The Bank may, within 4 months after receiving a notification under subsection (2), direct the holder of an authorisation—

(a) to refrain from imposing or changing a charge in relation to the provision of a service to a customer or to a group of customers, without the prior approval of the Bank, and

(b) to publish, in such manner as may be specified by the Bank from time to time, information on any charge in relation to the provision of a service to a customer or to a group of customers.

(7) If a notification under subsection (2) is in respect of a proposal to impose a charge for a new service that was not previously offered to its customers or is being offered as a choice to and in a way materially different from existing services, the Bank may, within 3 weeks after receiving the notification, direct the holder of an authorisation—

(a) to refrain from imposing or changing a charge for providing a service to a customer, or to a group of customers, without the prior approval of the Bank, and

(b) to publish, in such manner as may be specified by the Bank from time to time, information on any charge for providing a service to a customer or to a group of customers.

(8) A direction under this section may be expressed to apply—

(a) to every holder of an authorisation or holders of authorisations carrying on a specified type of F216[regulated business], or

(b) to all services provided to a customer or to a group of customers by holders of authorisations or to specified services or to services of a specified kind, or

(c) to a specified time or times or during a specified period or periods,

and has effect according to its terms.

(9) The Bank shall—

(a) communicate such a direction to the holder of every authorisation concerned, and

(b) if not communicated in writing, confirm the communication in writing to that holder as soon as practicable after giving the direction.

(10) The Bank shall, in exercising the powers conferred by this section, have regard to—

(a) the promotion of fair competition between—

(i) holders of authorisations, and

(ii) credit institutions carrying on a particular type of F216[regulated business],

and

(b) the statement of commercial justification referred to in subsection (3)(b), and

(c) the holder of an authorisation passing any costs on to its customers, or a group of its customers, in proposing to impose or change any charge for providing a service to a customer or a group of its customers, and

(d) the effect on customers or a group of customers of any proposal to impose or change any charge for providing the service.

(11) The Bank may amend or revoke a subsisting direction under this section and may amend or revoke a subsisting direction that has been amended.

(12) The Bank may exempt the holder of an authorisation from the obligation to make a notification under subsection (2) in respect of any charge which has been individually negotiated in good faith with that holder by a customer, or by or on behalf of a group of customers, of that holder.

(13) The Bank shall—

(a) keep under general review the terms and conditions applying to the provision of services to customers by holders of authorisations, and

(b) require the holder of an authorisation to discontinue or refrain from the use of such terms and conditions as are, or are likely to be regarded as, unfair, and

(c) if that holder fails to comply with a requirement under subparagraph (b), bring proceedings in the High Court for an order prohibiting the use, or continued use of those terms and conditions.

F216[(14) A holder of an authorisation shall not impose a charge for providing a service to a customer or group of customers if—

(a) the charge has not been previously notified to the Bank or to the Director, or

(b) the charge exceeds the charge notified for the service in accordance with subsection (2), or

(c) the charge does not comply with a direction issued by the Bank under this section.

(15) The Bank may, by notice given in writing, require a specified holder of an authorisation, or holders of a specified class of authorisation, to publish in such publications, and within such timeframes, as are specified in the notice details of the amounts of charges notified to the Bank under this section.

(16) A holder of an authorisation to whom a notice has been given under subsection (15) shall comply with the notice within the timeframe specified in the notice.

(17) In this section—

"bureau de change business" has the same meaning as in section 28 of the Central Bank Act 1997 (as substituted by section 27 of the Central Bank and Financial Services Authority of Ireland Act 2004);

"service" means any service provided by the holder of an authorisation to a customer in relation to a bureau de change business or money transmission business carried on by that holder;

"money transmission business" has the same meaning as in section 28 of the Central Bank Act 1997 (as substituted by section 27 of the Central Bank and Financial Services Authority of Ireland Act 2004).]

(15) For the purposes of this section, a notification made to the Director of Consumer Affairs before the substitution of this section by item 43 of Part 21 of Schedule 1 to the Central Bank and Financial Services Authority of Ireland Act 2003, is taken to have been made to the Bank.]