Central Bank (Supervision and Enforcement) Act 2013

70.

Amendment of section 33BA of Act of 1942.

70.— Section 33BA of the Act of 1942 is amended by inserting the following after subsection (5):

“(6) Without limiting subsections (1) to (4), the Bank has the same powers that a judge of the High Court has when hearing civil proceedings that are before that Court with respect to the examination of witnesses (including witnesses who are outside the State).

(7) A person who is summoned to appear before the Bank under this section is entitled to the same rights and privileges as a witness appearing in civil proceedings before the High Court.

(8) An answer to a question put to a person in response to a requirement under subsection (4)( a) or information provided by a person in response to a requirement under subsection (4)( b) is not admissible as evidence against the person in criminal proceedings, other than proceedings for perjury, if the information was provided on oath.

(9) A person who—

( a) obstructs the Bank in the exercise of a power conferred by this Part,

( b) without reasonable excuse, fails to comply with a requirement or request made by the Bank under this Part,

( c) in purported compliance with such a requirement or request, gives information that the person knows to be false or misleading, or

( d) refuses to comply with a summons to attend before, or to be examined on oath by, the Bank,

commits an offence and is liable—

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

(ii) on conviction on indictment, to a fine not exceeding €250,000 or imprisonment for a term not exceeding 5 years, or both.”.