Central Bank Reform Act 2010

18

Definitions (Part 3).

18.— (1) In this Part—

“Court” means the High Court;

F5["ECB" means the European Central Bank;]

“evidentiary notice” means a notice under section 32;

F6[controlled function

(a) in relation to a regulated financial service provider, means a function prescribed in regulations made under section 20 as a controlled function in relation to a regulated financial service provider, and

(b) in relation to a holding company, means a function prescribed in regulations made under section 20 as a controlled function in relation to a holding company;]

F7["holding company" means any of the following established in the State:

(a) a financial holding company, within the meaning given by point (20) of Article 4(1) of the Capital Requirements Regulation;

(b) a mixed financial holding company, within the meaning given by point (21) of Article 4(1) of the Capital Requirements Regulation;

(c) an insurance holding company, within the meaning given by Regulation 215(1) of the European Union (Insurance and Reinsurance) Regulations 2015 (S.I. No. 485 of 2015);

(d) an investment holding company, within the meaning of the European Union (Investment Firms) Regulations 2021 (S.I. No. 355 of 2021);

"prohibition notice" means a notice under section 43;]

F6[pre-approval controlled function

(a) in relation to a regulated financial service provider, shall be construed in accordance with section 22(1), and

(b) in relation to a holding company, shall be construed in accordance with section 22(1A);]

F5["SSM Regulation" means Council Regulation (EU) No. 1024/2013 of 15 October 201313 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions;]

F5["SSM Framework Regulation" means Regulation (EU) No. 468/2014 of the European Central Bank of 16 April 201414 establishing the framework for co-operation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities;]

“suspension notice” means a notice under section 26.

(2) F8[]

(3) F8[]

Annotations

Amendments:

F5

Inserted (4.11.2014) by European Union (Single Supervisory Mechanism) Regulations 2014 (S.I. No. 495 of 2014), reg. 36.

F6

Substituted (19.04.2023) by Central Bank (Individual Accountability Framework) Act 2023 (5/2023), s. 7(a)(i), (ii), S.I. No. 176 of 2023.

F7

Inserted (19.04.2023) by Central Bank (Individual Accountability Framework) Act 2023 (5/2023), s. 7(a)(iii), S.I. No. 176 of 2023.

F8

Deleted (19.04.2023) by Central Bank (Individual Accountability Framework) Act 2023 (5/2023), s. 7(b), S.I. No. 176 of 2023.

Editorial Notes:

E8

Power pursuant to subs. (3) exercised (24.09.2012) by Central Bank Reform Act 2010 (Application of Part 3 to Credit Unions) Order 2012 (S.I. No. 378 of 2012).

2. The 24th day of September 2012 is fixed as the date on which Part 3 of the Central Bank Reform Act 2010 applies to and in relation to all regulated financial service providers, including credit unions.