108A.— (1) Subject to subsection (2), a person who is a designated person pursuant to paragraph (a) of the definition of "financial institution" in section 24(1) and section 25(1)(b) F186[…] shall register with the Bank.

(2) Subsection (1) shall not apply to a designated person that is authorised or licensed to carry on its activities by, or is registered with, the Bank under—

(a) an Act of the Oireachtas (other than this Act),

(b) a statute that was in force in Saorstát Éireann immediately before the date of the coming into operation of the Constitution and that continues in force by virtue of Article 50 of the Constitution, or

(c) an instrument made under an Act of the Oireachtas or a statute referred to in paragraph (b).

(3) A designated person who is required to register under this section commits an offence if the person fails to do so and is liable—

(a) on summary conviction, to a class A fine or imprisonment for a term not exceeding 12 months (or both), or

(b) on conviction on indictment to a fine or imprisonment for a term not exceeding 5 years (or both).

(4) The Bank shall establish and maintain a register of persons that register under this section (referred to in this section as "the Register").

(5) The following particulars shall be entered into the Register in respect of each designated person registered:

(a) the name of the designated person;

(b) the address of the head office and registered office of the designated person;

(c) the activities that the designated person carries out that are contained within the meaning of paragraph (a) of the definition of financial institution in section 24(1).

(6) F186[…]

(7) The Bank may specify a procedure for registering under this section.

(8) The Register may be in book form, electronic form or such other form as the Bank may determine. The Register may be maintained in an electronic, mechanical or other non-written form only if it is capable of being reproduced in a written form.

(9) The particulars entered in the Register pursuant to this section relating to a person who is a designated person pursuant to section 25(1)(b) and paragraph (a) of the definition of financial institution in section 24(1) may be removed from the Register where that person ceases to be a designated person pursuant to those provisions or is authorised or licensed to carry on its activities by, or is registered with, the Bank under an enactment specified in paragraph (a), (b) or (c) of subsection (2).

(10) F186[…]

(11) In this section "Bank" means the Central Bank of Ireland.]