Financial Services (Deposit Guarantee Scheme) Act 2009
Number 13 of 2009
FINANCIAL SERVICES (DEPOSIT GUARANTEE SCHEME) ACT 2009
REVISED
Updated to 1 January 2019
This Revised Act is an administrative consolidation of the Financial Services (Deposit Guarantee Scheme) Act 2009. It is prepared by the Law Reform Commission in accordance with its function under the Law Reform Commission Act 1975 (3/1975) to keep the law under review and to undertake revision and consolidation of statute law.
All Acts up to and including Central Bank (National Claims Information Database) Act 2018 (42/2018), enacted 27 December 2018, and all statutory instruments up to and including Criminal Justice (Suspended Sentences of Imprisonment) Act 2017 (Commencement) Order 2019 (S.I. No. 1 of 2019), made 3 January 2019, were considered in the preparation of this Revised Act.
Disclaimer: While every care has been taken in the preparation of this Revised Act, the Law Reform Commission can assume no responsibility for and give no guarantees, undertakings or warranties concerning the accuracy, completeness or up to date nature of the information provided and does not accept any liability whatsoever arising from any errors or omissions. Please notify any errors, omissions and comments by email to
revisedacts@lawreform.ie.
Number 13 of 2009
FINANCIAL SERVICES (DEPOSIT GUARANTEE SCHEME) ACT 2009
REVISED
Updated to 1 January 2019
Introduction
This Revised Act presents the text of the Act as it has been amended since enactment, and preserves the format in which it was first passed.
Related legislation
This Act is not collectively cited with any other Act.
Annotations
This Revised Act is annotated and includes textual and non-textual amendments, statutory instruments made pursuant to the Act and previous affecting provisions. A version without annotations, showing only textual amendments, is also available.
An explanation of how to read annotations is available at
www.lawreform.ie/annotations.
Material not updated in this revision
Where other legislation is amended by this Act, those amendments may have been superseded by other amendments in other legislation, or the amended legislation may have been repealed or revoked. This information is not represented in this revision but will be reflected in a revision of the amended legislation if one is available.
Where legislation or a fragment of legislation is referred to in annotations, changes to this legislation or fragment may not be reflected in this revision but will be reflected in a revision of the legislation referred to if one is available.
A list of legislative changes to any Act, and to statutory instruments from 1978, may be found linked from the page of the Act or statutory instrument at
www.irishstatutebook.ie.
Acts which affect or previously affected this revision
• Finance (Miscellaneous Provisions) Act 2015 (37/2015)
• Central Bank (Supervision and Enforcement) Act 2013 (26/2013)
• Central Bank and Credit Institutions (Resolution) Act 2011 (27/2011)
• Central Bank Reform Act 2010 (23/2010)
All Acts up to and including Central Bank (National Claims Information Database) Act 2018 (42/2018), enacted 27 December 2018, were considered in the preparation of this revision.
Statutory instruments which affect or previously affected this revision
• Financial Services (Deposit Guarantee Scheme) Act 2009 (Commencement of Section 4) (Credit Unions) Order 2012 (S.I. No. 379 of 2012)
• European Communities (Deposit Guarantee Schemes) (Amendment) Regulations 2009 (S.I. No. 228 of 2009)
All statutory instruments up to and including Criminal Justice (Suspended Sentences of Imprisonment) Act 2017 (Commencement) Order 2019 (S.I. No. 1 of 2019), made 3 January 2019, were considered in the preparation of this revision.
Number 13 of 2009
FINANCIAL SERVICES (DEPOSIT GUARANTEE SCHEME) ACT 2009
REVISED
Updated to 1 January 2019
ARRANGEMENT OF SECTIONS
Section
2. Amount of coverage in respect of eligible deposits.
3. Deposit protection account.
4. Amount to be maintained in deposit protection account.
5. Annual recalculation of amount of deposit.
5B. Credit institutions wound up or ceased trading.
6. Charges, etc., on deposit protection account.
7. Aggregate payment to deposit protection account by credit unions.
8. Reimbursement from Central Fund of certain payments by Bank.
8A. Power of Bank to make regulations for information to be kept relating to eligible deposits.
8B. Requirement to provide information to Bank.
8C. Direction to credit institution.
8D. Directions under section 8C: supplementary.
11. Amendments to Central Bank Act 1942.
12. Short title and commencement.
Amendments to Central Bank Act 1942
Acts Referred to
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1989,No. 17 |
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1942,No. 22 |
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1971, No. 24 |
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Central Bank and Financial Services Authority of Ireland Act 2003 |
2003,No. 12 |
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1997,No. 15 |
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1993, No. 25 |
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Markets in Financial Instruments and Miscellaneous Provisions Act 2007 |
2007,No. 37 |
Number 13 of 2009
FINANCIAL SERVICES (DEPOSIT GUARANTEE SCHEME) ACT 2009
REVISED
Updated to 1 January 2019
AN ACT TO PROVIDE FOR THE MAKING OF REGULATIONS REGARDING THE AMOUNT PAYABLE TO A PERSON MAINTAINING ELIGIBLE DEPOSITS WITH A CREDIT INSTITUTION; TO PROVIDE FOR THE MAINTENANCE OF THE DEPOSIT PROTECTION ACCOUNT BY THE CENTRAL BANK AND FINANCIAL SERVICES AUTHORITY OF IRELAND; TO PROVIDE FOR THE MAINTENANCE BY CREDIT INSTITUTIONS OF DEPOSITS IN THE DEPOSIT PROTECTION ACCOUNT; TO PROVIDE FOR THE AMOUNT OF THE DEPOSIT AND ITS VARIATION; TO GIVE FURTHER EFFECT TO DIRECTIVE 94/19/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 30 MAY 1994 ON DEPOSIT GUARANTEE SCHEMES; TO AMEND THE CENTRAL BANK ACT 1942 AND TO PROVIDE FOR RELATED MATTERS.
[18th June, 2009]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:
Annotations
Editorial Notes:
E1
Act included in list of designated enactments by Central Bank Act 1942 (22/1942), s. 33C and sch. 2 part 1, as inserted (1.08.2013) by Central Bank (Supervision and Enforcement) Act 2013 (26/2013), s. 5 and sch. 2 part 1 item 10(b), S.I. No. 287 of 2013.