Central Bank and Financial Services Authority of Ireland Act 2003

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SCHEDULE 1

Consequential Amendments to other Acts

Section 35 (1).

PART 1

Amendment of Assurance Companies Act 1909

Item	Provision affected	Amendment
1.	Sections 2, 7, 9, 14, 22, 34, 35 and the Schedules	(a) Substitute “Bank” for “Board of Trade”, wherever occurring; (b) substitute “Bank” for “Board”, wherever occurring.
2.	Section 20	Substitute the following section:
		“Custody and inspection of documents deposited with the Bank	20.—(1) The Bank may direct any documents deposited with it under this Act, or any certified copies of the documents, to be kept by a specified officer or employee of the Bank. (2) The officer or employee who has custody of the documents and certified copies is required to make them available for inspection by members of the public. (3) A member of the public is entitled to a copy of any of those documents or copies on payment of the fee (if any) prescribed under section 33K of the Central Bank Act 1942 .”.
3.	Section 21	Substitute the following section:
		“Evidence of documents.	21.—(1) Every document deposited under this Act with the Bank and certified by an authorised person as being a document so deposited is for all purposes taken to be a document so deposited.
			(2) A document purporting to be certified by an authorised person as being a copy of a document deposited with the Bank under this Act is admissible in legal proceedings as evidence of the contents of the document so deposited and is proof of those contents in the absence of evidence to the contrary.
			(3) In this section, ‘authorised person’ means the Chief Executive of the Irish Financial Services Regulatory Authority or a person authorised by the Chief Executive in writing to issue certificates under this section.”.
4.	Section 27	Substitute the following section:
		“Bank to lay accounts etc. before Oireachtas.	27.—(1) In each financial year, the Bank shall lay before each House of the Oireachtas the financial statements and other documents deposited under this Act during the immediately preceding financial year. The Bank may attach to those documents any note prepared by the Bank, and any correspondence, relating to them.
			(2) This section does not apply to reports on the affairs of assurance companies to the shareholders or policyholders of those companies.”.
5.	Section 28	Delete subsection (1).
6.	Section 29	(a) Insert the following definition after the definition of “chairman”:
		“The expression ‘Bank’ means the Central Bank and Financial Services Authority of Ireland;”;
		(b) substitute the following definition for the definition of “Court”:
		“The expression ‘Court’ means the High Court, except where the Supreme Court is expressly referred to;”;
		(c) substitute the following definition for the definition of “Companies Acts”:
		“The expression ‘Companies Acts’ means the Companies Acts 1963 to 2001;”;
		(d) in the definition of “actuary”, substitute “regulations in force under section 5 of the Insurance Act 1936 ” for “rules made by the Board of Trade”;
		(e) substitute the following definition for the definition of “Gazette”:
		“The expression ‘Gazette’ means Iris Oifigiúil.”.
7.	Sections 32 and 33	Substitute “with the Bank” for “at the Board of Trade”, wherever occurring.
8.	Section 35	Substitute “Bank” for “the Board, after consulting the Chief Registrar of Friendly Societies,”.

PART 2

Amendment of Insurance Act 1936

Item	Provision affected	Amendment
1.	Section 2	Delete “, but no order shall be made by the Minister under this section in relation to Part VI of this Act without the consent of the Minister for Finance”.
2.	Section 3	(a) Insert the following definition before the definition of the expression “the Minister”:
		“the expression ‘the Bank’ means the Central Bank and Financial Services Authority of Ireland.”;
		(b) substitute the following definition for the definition of the expression “the Minister”:
		“the expression ‘the Minister’ means the Minister for Finance.”.
3.	Section 4	Substitute the following section:
		“Expenses incurred in administering this Act.	4.—Expenses incurred by the Minister in administering this Act are, except in so far as they are expressly provided for by a provision of this Act, payable out of money provided by the Oireachtas.”.
4.	Section 5	Substitute “Bank may” for “Minister may be order”.
5.	Section 7	Repeal the section.
6.	Section 18	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) in subsection (2), substitute “it” for “he”;
		(c) in subsection (3), substitute “its” for “his”.
7.	Section 20	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) in subsection (2), substitute “its” for “his”;
		(c) in subsection (2), substitute “it” for “he”.
8.	Section 21	(a) in subsections (1), (2), (3) and (4), substitute “Bank” for “Minister”;
		(b) insert the following at the end of subsection (4):
		“If the register is kept in a form that is not immediately legible, the Bank shall make available to members of the public a version of the register that is in legible form.”;
		(c) substitute the following subsection for subsection (5):
		“(5) A person who, during the ordinary business hours of the Bank, attends the office at which the Bank keeps the register is entitled—
		(a) to inspect the register without charge or make enquiries regarding its contents, and
		(b) on payment of the fee (if any) prescribed under section 33K of the Central Bank Act 1942 , for the purposes of this subsection, to obtain a copy of any entry in the register.”;
		(d) delete subsections (6) and (7).
9.	Section 22	In subsection (3), substitute “Bank” for “Minister”, wherever occurring.
10.	Section 24	In subsection (2), substitute “Bank” for “Minister”.
11.	Section 26	In subsection (1), substitute “Bank” for “Minister”.
12.	Section 27	In subsection (1), substitute “Bank” for “Minister”.
13.	Section 45	Substitute “Bank” for “Minister”.
14.	Section 46	(a) In subsections (1), (2), (3), (5) and (6), substitute “Bank” for “Minister”, wherever occurring;
		(b) in subsection (1), substitute “it” for “him”;
		(c) in subsections (3) and (4), substitute “it” for “he”;
		(d) in subsection (4), substitute “Bank” for “Minister”, where firstly and thirdly occurring;
		(e) delete “, with the consent of the Minister,”, wherever occurring.
15.	Section 47	Substitute “Bank” for “Minister”, wherever occurring.
16.	Section 50	Substitute the following subsections for subsection (5):
		“(5) The sum assured under a policy of industrial assurance that is issued for a purpose for which industrial assurance companies can issue policies of industrial assurance under this section is presumed to be reasonable if the sum does not exceed the prescribed sum.
		(6) For the purposes of subsection (5), the prescribed sum is €1,550 or, if the Bank by order specifies some other sum for the purposes of that subsection, that other sum.”.
17.	Section 51	Substitute the following subsection for subsection (2):
		“(2) Subject to this section, an industrial assurance company may pay, or undertake liability (by the issue of a policy or otherwise) to pay, on the death of a child who is under 10 years of age any sum of money that, when added to the amount or the total of the amounts payable on the death of the child by one or more other industrial companies (exclusive of bonus or free paid-up policies) exceeds—
		(a) €1,300, or
		(b) if the Bank by order prescribes some other sum for the purposes of this subsection, that other sum.”.
18.	Section 54	In paragraph (c), substitute “Bank” for “Minister”.
19.	Section 55	In paragraph (d), substitute “Bank” for “Minister”.
20.	Section 56	Substitute “Bank” for “Minister”, wherever occurring.
21.	Section 57	(a) Substitute “Bank” for “Minister”;
		(b) substitute “it” for “him”;
		(c) substitute “it” for “he”;
		(d) substitute “itself” for “himself”.
22.	Section 58	Substitute “Bank” for “Minister”.
23.	Section 59	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) substitute “it” for “him”.
24.	Section 62	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) in subsection (2), substitute “it” for “he”.
25.	Section 63	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) substitute “it” for “he”, wherever occurring.
26.	Section 72	(a) In subsections (1) to (9), substitute “Bank” for “Minister”, wherever occurring;
		(b) substitute “it” for “him”, wherever occurring;
		(c) in subsection (8), substitute “it” for “he”;
		(d) substitute the following subsection for subsection (10):
		“(10) Whenever a dispute is referred to the Bank for determination under this section, there shall be paid to the Bank such fee as shall be prescribed by regulations under section 33K of the Central Bank Act 1942 , and such fee shall be paid by (as the case may require) the industrial assurance company which or the applicant who refers such dispute to the Bank or, where such dispute is referred by the industrial assurance company and the applicant jointly to the Bank by both such company and the applicant in equal parts, and the due payment of such fee shall be a condition precedent to the determination of such dispute by the Bank.”;
		(e) delete subsection (11).
27.	Section 73	(a) Substitute “Bank” for “Minister”;
		(b) substitute “it” for “he”.
28.	Part VI (The Re-Insurance Company of Ireland, Limited)	Repeal the Part.
29.	Section 91	In subsection (2)(c), substitute “Bank” for “Minister”.
30.	Section 96	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) in subsection (1), substitute “it” for “he”;
		(c) substitute the following subsection for subsection (2):
		“(2) The Bank may, by order, amend the Eighth Schedule to the Act of 1909 (by addition, omission or variation).”;
		(d) delete subsections (3), (4) and (5).
31.	Section 97	(a) Substitute “Bank” for “Minister”;
		(b) substitute “it” for “he”.
32.	Section 98	Substitute “Bank” for “Minister”, wherever occurring.
33.	Section 99	Substitute the following section:
		“Accounts and statements to be provided by syndicates.	99.—(1) Every syndicate shall provide the Bank with accounts and statements in respect of each class of assurance business carried on in the State by the syndicate during the year preceding the year in which the accounts and statements are given. The accounts and statements are to be in such form and manner and to be provided at such times as the Bank directs.
			(2) The requirement under subsection (1) is instead of any provision of the Act of 1909 requiring a syndicate or a member of a syndicate to furnish any account or statement under that Act.
			(3) As soon as practicable after receiving the account and statements provided under subsection (1), the Bank shall arrange for a copy of them to be laid before each House of the Oireachtas.”.
34.	Section 100	Substitute “Bank” for “Board of Trade”.
35.	Section 101	Substitute “Bank” for “Board of Trade”.
36.	Section 104	Substitute the following paragraph for paragraph (b):
		“(b) the company shall each year prepare a statement of its assurance business in such form as the Bank directs (in which case section 7(1) of the Act of 1909 is to apply to the statement), and”.
37.	Section 105	In subsection (3), substitute “Bank” for “Minister”.
38.	Sections 106 and 107	Repeal the sections.
39.	Section 109	Substitute “Bank” for “Minister”, wherever occurring.
40.	Second Schedule, paragraphs 3 and 4	Substitute “Bank” for “Minister”, wherever occurring.
41.	Third Schedule, Part IV	Substitute “Bank” for “Minister”.

PART 3

Amendment of Insurance Act 1953

Item	Provision affected	Amendment
1.	Section 1	In subsection (1), insert the following definition after the definition of “the Act of 1936”:
		“ ‘the Bank’ means the Central Bank and Financial Services Authority of Ireland.”.
2.	Section 4	(a) In subsection (1), substitute “Bank” for “Minister”;
		(b) substitute the following subsection for subsection (2):
		“(2) The Bank may attach to a licence to which this section applies such conditions as it thinks proper and may revoke the licence if it appears to it that any such condition is not being complied with.”.

PART 4

Amendment of Companies Act 1963

1.	Section 158	Insert the following subsection after subsection (6A):
		“(6B) The report referred to in subsection (1) shall contain a copy of any Disclosure Issue Notice issued under section 33AK (inserted by the Central Bank and Financial Services Authority of Ireland Act 2003) during the financial year ending with the relevant balance sheet date.”.

PART 5

Amendment of Insurance Act 1964

Item	Provision affected	Amendment
1.	Section 1	(a) Insert the following definition after the definition of “the Act of 1936”:
		“ ‘the Bank’ means the Central Bank and Financial Services Authority of Ireland.”;
		(b) substitute the following definition for the definition of “the Minister”:
		“ ‘Minister’ means the Minister for Finance”.
2.	Section 3	(a) In subsection (1A), delete “by the Minister”;
		(b) in subsection (2C)(b), delete “with the consent of the Minister for Finance”;
		(c) in subsection (2D), delete “by the Minister”.
3.	Section 5	(a) In subsection (1), substitute “on the recommendation of the Bank” for “on the recommendation of the Minister”;
		(b) in subsection (2), substitute “after consulting the Bank” for “after consultation with the Minister”.
4.	Section 6	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) substitute “it” for “he”, wherever occurring;
		(c) in subsection (2)(a), substitute “its” for “his”.
5.	Section 7	Repeal the section.
6.	Section 14	(a) In subsection (1), substitute “Bank” for “Minister”;
		(b) in subsection (1), substitute “it” for “he”;
		(c) substitute the following subsections for subsection (2):
		“(2) The Bank shall arrange for every regulation made under this section to be laid before each House of the Oireachtas as soon as practicable after it is made.
		(3) Either House of the Oireachtas may, by resolution passed within 21 sitting days after the day on which a regulation was laid before it in accordance with subsection (2), annul the regulation.
		(4) The annulment of such a regulation takes effect immediately on the passing of the resolution concerned, but does not affect anything that was done under the regulation before the passing of that resolution.”.
7.	Section 15	Substitute the following section:
		“Expenses incurred by Minister	15.—The expenses incurred by the Minister in administering the provisions of this Act are payable out of money provided by the Oireachtas.”.

PART 6

Amendment of Central Bank Act 1971

Item	Provision affected	Amendment
1.	Section 2	(a) In subsection (1), substitute the following definition for the definition of “Bank”:
		“ ‘Bank’ means the Central Bank and Financial Services Authority of Ireland;”;
		(b) in subsection (1), insert the following definition after the definition of “banking business”:
		“ ‘Central Bank Acts’ means the Central Bank Acts 1942 to 2001, and any enactment amending those Acts;
		(c) in subsection (1), insert the following definition after the definition of “the Minister”:
		“ ‘Regulatory Authority’ means the Irish Financial Services Regulatory Authority.”.
2.	Section 17	For section 17 substitute the following sections:
		“Holders of licences etc. to keep certain records.	17.—(1) The holder of a licence and each related body shall—
			(a) keep at an office or offices within the State such records as may be specified from time to time by the Bank, in the due discharge by the Bank of its functions, and
			(b) notify the Bank in writing of the address of the office or offices where those records are kept.
			Different kinds of records may be specified under this subsection for different licence holders and related bodies.
			(2) The requirement imposed by subsection (1) is additional to any other requirement imposed by law with respect to the keeping of records by the holder of a licence and by related bodies.
			(3) The holder of a licence and each related body shall keep the records referred to in subsection (1) for such period as the Bank notifies in writing to that holder.
			(4) The holder of a licence may keep its documents wholly or partly in a non-legible form so long as they are capable of being reproduced in a legible form.
			(5) In this section, ‘records’ includes books and all other kinds of documents, and also includes—
			(a) information kept in a non-legible form (whether electronically or otherwise) that is capable of being reproduced in a legible form, and
			(b) the means (if any) by which the information is capable of being reproduced.
		Powers of authorised persons with respect to holders of licences.	17A.—(1) Either the Governor of the Bank or the Chief Executive of the Regulatory Authority may, in writing, authorise an employee of the Bank or a suitably qualified person to investigate the business or any aspect of the business of the holder of a licence or of a related body.
			(2) An authorised person may, at all reasonable times on production of evidence of the person's authorisation, enter any premises at which the holder of a licence or a related body carries on business or where the person reasonably believes records relating to the business of the holder of a licence or related body are kept.
			(3) An authorised person who has entered premises in accordance with subsection (2) may exercise all or any of the following powers:
			(a) inspect the premises;
			(b) request any person on the premises who apparently has control of, or access to, records to produce the records for inspection;
			(c) inspect records produced in accordance with such a request or found in the course of inspecting the premises;
			(d) take copies of those records or of any part of them, and
			(e) request any person who appears to the authorised person to have information relating to the records, or to the business of the licence holder or related body, to answer questions with respect to the records or that business.
			(4) A person to whom a request is made in accordance with subsection (3) shall—
			(a) comply with the request so far as it is possible to do so, and
			(b) give such other assistance and information to the authorised person with respect to the business of the licence holder or related body as is reasonable in the circumstances.
			(5) The powers conferred by subsection (3) may also be exercised in relation to any other person who is, in the opinion of the Bank, in possession of information that is materially relevant to the exercise of those powers in relation to the holder of a licence or a related body.
			(6) The production of a record in compliance with a request made under this section does not prejudice a person's lien over the record.
			(7) Nothing in this section requires a legal practitioner to produce a record that contains a privileged communication made by or to the practitioner or to disclose any information that relates to the communication.
			(8) In this section—
			‘associated company’, in relation to the holder of a licence, means a company in respect of which not less than 20 per cent of the nominal value of the company's equity share capital, or shares carrying voting rights (other than voting rights which arise only in specified circumstances), are held by the bank;
			‘authorised person’ means a person authorised under subsection (1);
			‘company’ has the meaning given by section 155 of the Companies Act 1963 ;
			‘functions’, in relation to the Bank, means the Bank's functions—
			(a) under the Central Bank Acts, or
			(b) imposed by virtue of the European Communities (Consolidated Supervision of Banks) Regulations 1985 ( S.I. No. 302 of 1985 ), and Council Directive No. 85/354/EEC (1) of 13 June, 1983;
			‘holding company’ has the meaning given by section 155 of the Companies Act 1963 ;
			‘legal practitioner’ means a barrister or solicitor;
			‘prescribed record’, in relation to the holder of licence, means a record that is required to be kept under section 24;
			‘related body’ means—
			(a) a subsidiary company of a trustee savings bank, or
			(b) if the bank is a subsidiary—
			(i) its holding company, or
			(ii) any other subsidiary of its holding company, or
			(iii) an associated company of the bank, or
			(iv) a partnership in which the holder of a licence has an interest, and whose business is or, at the relevant time, was, in the opinion of the Bank, materially relevant to any inspection of the holder being carried out or proposed to be carried out under this section;
			‘subsidiary company’ has the meaning given by section 155 of the Companies Act 1963 ;
			‘suitably qualified person’ means any person (other than an employee of the Bank) who, in the opinion of the Governor or the Chief Executive, has the qualifications and experience necessary to exercise the powers conferred on authorised officers by this section.”.
3.	Section 47	Repeal the section.
4.	Section 54	Repeal the section.
5.	Section 58	In subsection (1), insert “17A,” after “17,”.

PART 7

Amendment of Insurance (No. 2) Act 1983

Item	Provision affected	Amendment
1.	Section 1	(a) In subsection (1), insert the following definition after the definition of “body”:
		“ ‘the Bank’ means the Central Bank and Financial Services Authority of Ireland;”;
		(b) in subsection (1), insert the following definition after the definition of “insurer” and “policy”:
		“ ‘the Minister’ means the Minister for Finance;”.
2.	Section 2	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) in subsection (1), substitute “it” for “him”.
3.	Section 3	(a) In subsections (1) to (5), substitute “Bank” for “Minister”, wherever occurring;
		(b) substitute the following subsections for subsection (6):
		“(6) For the purpose of enabling an administrator to perform effectively the functions imposed on administrators by this Act, the Minister may, by order, make such modifications to the enactments and instruments referred to in subsection (1), and to any rules of court relating to them, in their application to this Act as the Minister considers appropriate.
		(7) The Minister may, by order, revoke or amend an order made under subsection (6) or this subsection.
		(8) The Minister may make an order under subsection (6) or (7) only after consulting the Minister for Enterprise, Trade and Employment.”.
4.	Section 6	(a) In subsection (1), substitute “Bank” for “Minister”;
		(b) in subsection (1), substitute “it” for “he”, wherever occurring;
		(c) insert the following subsection after subsection (1):
		“(1A) The Bank may make regulations under this section only with the consent of the Minister.”.
5.	Section 11	Substitute the following section:
		“Regulations to be laid before Oireachtas.	11.—(1) The Bank shall arrange for every regulation made by it under this Act to be laid before each House of the Oireachtas as soon as practicable after it is made.
			(2) Either House of the Oireachtas may, by resolution passed within 21 sitting days after the day on which a regulation was laid before it in accordance with subsection (1), annul the regulation.
			(3) The annulment of such a regulation takes effect immediately on the passing of the resolution concerned, but does not affect anything that was done under the regulation before the passing of that resolution.”.

PART 8

Amendment of Insurance Act 1989

Item	Provision affected	Amendment
1.	Section 2	(a) In the definition of “authorisation”, delete “by the Minister”;
		(b) insert the following definition after the definition of “authorised agent”:
		“ ‘Bank’ means the Central Bank and Financial Services Authority of Ireland;”;
		(c) substitute the following definition for the definition of “the Minister”:
		“ ‘Minister’ means the Minister for Finance;”;
		(d) in the definition of “solvency certificate”, delete “by the Minister”.
2.	Section 3	(a) In subsections (2B) and (2D), substitute “Bank” for “Minister”, wherever occurring;
		(b) in subsection (5), delete “to the Minister”.
3.	Section 4	Substitute “Bank” for “Minister”, wherever occurring.
4.	Section 5	Substitute “Bank” for “Minister”, wherever occurring.
5.	Section 6	Substitute the following section:
		“Orders.	6.—(1) The Bank may, by order, revoke or amend any order made by it under this Act.
			(2) If an order made by the Bank is subject to the consent of the Minister, the revocation or amendment of the order by the Bank is also subject to the consent of the Minister.”.
6.	Section 7	Substitute the following section:
		“Levies and fees.	7.—(1) The holder of an authorisation shall pay an annual levy of such amount (if any) as may be prescribed under section 33J of the Central Bank Act 1942 , for the purposes of this subsection.
			(2) A fee of such amount (if any) as may be prescribed under section 33K of the Central Bank Act 1942 , for the purposes of this subsection is payable to the Bank in respect of the issue of a solvency certificate.
			(3) A fee of such amount (if any) as may be prescribed under section 33K of the Central Bank Act 1942 , for the purposes of this subsection is payable to the Bank for inspecting the register kept under section 21 of the Insurance Act 1936 .”.
7.	Section 8	Substitute the following section:
		“Regulations and orders to be laid before Oireachtas.	8.—(1) The Bank shall arrange for every regulation and order made under this Act to be laid before each House of the Oireachtas as soon as practicable after it is made.
			(2) Either House of the Oireachtas may, by resolution passed within 21 sitting days after the day on which a regulation or order was laid before it in accordance with subsection (1), annul the regulation or order.
			(3) The annulment of such a regulation or order takes effect immediately on the passing of the resolution concerned, but does not affect anything that was done under the regulation or order before the passing of that resolution.”.
8.	Section 10	Substitute the following section:
		“Expenses incurred by the Minister.	10.—Expenses incurred by the Minister in administering this Act are payable out of money provided by the Oireachtas.”.
9.	Section 11	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) in subsection (1)(b), substitute “it” for “he”;
		(c) in subsection (1)(b), substitute “it” for “him”.
10.	Section 12	(a) Substitute “Bank” for “Minister”;
		(b) substitute “its” for “his”.
11.	Section 14	In subsection (2), substitute “Bank” for “Minister”.
12.	Section 15	In subsection (3), substitute “Bank” for “Minister”.
13.	Section 16	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) substitute “it” for “he”, wherever occurring;
		(c) in subsection (1), substitute “itself” for “himself”;
		(d) substitute “it” for “him”, wherever occurring.
14.	Section 17	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) in subsection (1), substitute “itself” for “himself”;
		(c) in subsection (2), substitute “it” for “he”, wherever occurring;
		(d) in subsection (2), substitute “it” for “him”, wherever occurring;
		(e) in subsection (4), substitute “the undertaking's” for “its”.
15.	Section 18	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) substitute “the Bank” for “he”, wherever occurring;
		(c) in subsection (2), substitute “it” for “him”;
		(d) in subsection (4), substitute “the undertaking's” for “its”.
16.	Section 19	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) substitute “it” for “he”, wherever occurring;
		(c) in subsection (1), substitute “it” for “him”.
17.	Section 20	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) substitute “it” for “he”, wherever occurring;
		(c) substitute “it” for “him”, wherever occurring.
18.	Section 21	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) substitute “it” for “he”, wherever occurring.
19.	Section 22	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) substitute “it” for “he”, wherever occurring;
		(c) in subsection (1F), substitute “it” for “him”.
20.	Section 22A	Substitute the following section:
		“Persons not to carry on certain reinsurance business without authorisation.	22A.—(1) A person shall not carry on a business of reinsuring business of a class to which the Insurance Acts apply otherwise than under an authorisation issued in accordance with regulations made under this section.
			(2) A person who contravenes subsection (1) commits an offence and is liable—
			(a) if tried on indictment, to a fine not exceeding €500,000, or
			(b) if tried summarily, to a fine not exceeding €3,000.
			(3) Subsection (1) does not apply to or in respect of a person referred to in section 22(1)(a).
			(4) The Bank may make regulations for the purpose of this section, but only with the consent of the Minister.
			(5) Without limiting subsection (4), the regulations may do all or any of the following:
			(a) provide for the making of applications for authorisations, including the fees to accompany those applications and requirements to be complied with by applicants;
			(b) provide for the issue by the Bank of authorisations to applicants who comply with those requirements;
			(c) provide for the refusal of applications for authorisations and prescribe the grounds on which applications may be refused;
			(d) prohibit the Bank from refusing applications for authorisations without giving the applicants an opportunity to be heard and require the Bank to notify refusals of applications and the grounds of refusal to the applicants;
			(e) enable the Bank to impose conditions and restrictions with which holders of authorisations must comply or must not contravene;
			(f) enable the Bank to suspend authorisations on grounds specified in the regulations;
			(g) enable the Bank to revoke authorisations on grounds specified in the regulations;
			(h) prohibit the Bank from suspending or revoking authorisations without giving the holders of the authorisations an opportunity to be heard and require the Bank to notify the persons concerned of the suspension or revocation of their authorisations and of the grounds for suspension or revocation;
			(i) require holders of authorisations to make returns to the Bank with respect to such matters and at such times, or within such periods, as may be specified in the regulations;
			(j) confer on persons whose applications for authorisations are refused, or whose authorisations are suspended or revoked, a right of appeal to the High Court against the refusal, suspension or revocation;
			(k) provide for anything ancillary or incidental to the matters referred to in paragraphs (a) to (j).
			(6) The regulations may make provision for or with respect to a matter by applying, adopting or incorporating, with or without modification, any of the provisions of the Insurance Acts, as in force from time to time.
			(7) A holder of an authorisation who, without reasonable excuse, fails to comply with a condition, or contravenes a restriction, of the authorisation commits an offence and is liable—
			(a) if tried on indictment, to a fine not exceeding €250,000, or
			(b) if tried summarily, to a fine not exceeding €2,000.
			(8) The fact that a holder of an authorisation is convicted of an offence under subsection (7) does not prevent the Bank from suspending or revoking the authorisation.
			(9) In this section, ‘authorisation’ means an authorisation issued by the Bank in accordance with regulations made under this section.
			(10) This section takes effect only when the Minister, by order, declares this section to have effect. Before making such an order, the Minister is required to be satisfied that it is necessary in the public interest, in the interests of policy holders and to ensure the proper regulation of the insurance industry that persons who carry on businesses of the kind referred to in subsection (1) should be subject to regulation under this section.
			(11) Subsections (2) and (7) have effect despite section 3.”.
21.	Section 23	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) insert the following subsection after subsection (2):
		“(3) Regulations under this section may be made only with the consent of the Minister.”.
22.	Section 24	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) substitute “it” for “he”, wherever occurring.
23.	Section 25	Delete subsection (3).
24.	Section 30	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) substitute “it” for “he”.
25.	Section 34	Substitute “Bank” for “Minister”.
26.	Section 35	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) in subsection (3), substitute “its” for “his”;
		(c) in subsection (3), substitute “it” for “he”, wherever occurring;
		(d) in subsection (3), substitute “it” for “him”, wherever occurring.
27.	Section 36	In subsection (3), substitute “Bank” for “Minister”, wherever occurring.
28.	Section 37	Substitute the following section:
		“Power of Bank to require reduction in commissions.	37.—(1) If the Bank thinks the commission payments of the holder of an authorisation are excessive, it may (but only with the consent of the Minister) send the holder a commission reduction notice requiring it to reduce the commission payments relating to its insurance business, or specified classes of insurance business, to not more than such level or levels as are specified in the notice.
			(2) A commission reduction notice—
			(a) must be in writing, and
			(b) takes effect 2 months after the date on which it was sent or on such later date as may be specified in the notice.
			(3) The Bank may specify levels of commission in a commission reduction notice in such manner, and by reference to such criteria, as it thinks fit.
			(4) As soon as practicable after sending a commission reduction notice to the holder of an authorisation, the Bank shall send a copy of the notice to all other holders of authorisations.
			(5) The holder of an authorisation to whom a commission reduction notice or a copy of it is sent shall ensure that, on and after the date on which the notice takes effect, no commission payments are paid by it or by an agent on its behalf at a level higher than that specified in the notice.
			(6) A holder of an authorisation who fails to comply with subsection (5) commits an offence.
			(7) The Bank may (but only with the consent of the Minister) revoke a commission reduction notice by sending to—
			(a) the holder of the authorisation to whom the commission reduction notice was sent, and
			(b) to each holder of an authorisation to whom a copy of the notice was sent,
			a revocation notice stating that the commission reduction notice is revoked from a date specified in the revocation notice.
			(8) When a revocation notice has been sent in accordance with subsection (7), the commission reduction notice to which it relates ceases to have effect on the day specified in the revocation notice.
			(9) As soon as practicable after sending a commission reduction notice or a revocation notice under this section to any person, the Bank shall publish in at least one daily newspaper circulating throughout the State a notice giving particulars of the commission reduction notice or revocation notice.”.
29.	Section 38	Substitute the following section:
		“Payment of certain commissions may be prohibited.	38.—(1) The Bank may, by order given to the holder of an authorisation, prohibit that holder from—
			(a) paying commission in the form of any benefit in kind, or as a loan of money made to an intermediary or to be made on that holder's behalf by another person to an intermediary, or
			(b) paying to, or crediting to the account of, an insurance intermediary commission in respect of an insurance policy until the insurance premium to which the commission relates is received by that holder or by the intermediary on behalf of that holder.
			(2) An order may be given under this section only if the Bank is satisfied that the order is in the public interest and the Minister for Finance has consented to the giving of the order.
			(3) The Bank may include in an order prohibiting commission from being paid or credited as provided by subsection (1)(b) such exceptions and conditions as it thinks appropriate.”.
30.	Section 39	(a) In subsection (1), substitute “the conviction is a ground for revoking the authorisation. Accordingly, the Bank may revoke the authorisation in accordance with” for “the conviction shall be a ground for the revocation by the Minister of the authorisation and, accordingly, the Minister may revoke the said authorisation in accordance with the provisions of”;
		(b) in subsection (2), substitute “the conviction is a ground for revoking the authorisation. Accordingly, the Bank may revoke the authorisation in accordance with” for “the conviction shall be a ground for the revocation by the Minister of the authorisation and, accordingly, the Minister may revoke the said authorisation in accordance with the provisions of”.
31.	Section 42	(a) Substitute “Bank” for “Minister”;
		(b) substitute “it” for “him”.
32.	Section 43	(a) Substitute “Bank” for “Minister”;
		(b) substitute “it” for “him”.
33.	Section 43B	Substitute “Bank” for “Minister”.
34.	Section 43D	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) in subsections (1) and (3), substitute “it” for “he”.
35.	Section 43E	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) in subsection (2), substitute “it” for “he”.
36.	Section 43F	Substitute “Bank” for “Minister”, wherever occurring.
37.	Section 43FF	Substitute “Bank” for “Minister”.
38.	Section 58	(a) Substitute “Bank” for “Minister”, wherever occurring;
		(b) in subsection (1), substitute “it” for “he”.
39.	Section 59 (as substituted by section 9 of the Insurance Act 2000 )	Substitute the following section:
		“Appointment of authorised officers.	59.—(1) The Bank may appoint such of its employees as it considers necessary to be authorised officers for the purposes of the Insurance Acts.
			(2) The Bank shall provide each authorised officer with a warrant of appointment as an authorised officer.
			(3) When exercising a power conferred by section 60, an authorised officer shall, if requested by any person affected, produce the warrant to that person.”.
40.	Section 60 (as substituted by section 10 of the Insurance Act 2000 )	(a) In subsection (1)(c), substitute “Bank” for “Minister”; (b) in subsection (7), substitute “Bank” for “Minister”.
41.	Section 61	(a) Substitute “Bank” for “Minister”;
		(b) substitute “it” for “he”.
42.	Section 62	Insert the following section after section 61:
		“Power of assurance company to hold shares in holding company.	62.—(1) Subject to any requirements or restrictions imposed under subsection (3), an assurance company incorporated in the State may subscribe for or purchase and hold any class of shares in its holding company out of the assets of its life assurance fund.
			(2) However—
			(a) the shares of the class in which the company subscribes for, purchases or holds must be listed on a recognised stock exchange, and
			(b) the total number of shares of any one class so held must not at any one time exceed the prescribed percentage of the shares in that class issued or allotted, or of the voting rights attaching, to that class of shares.
			(3) The Bank may impose such requirements to, or such restrictions on, the exercise of the power conferred by this section as it considers necessary for the purposes of ensuring the prudent regulation of life assurance in the State.
			(4) For the purpose of subsection (2)(b), the prescribed percentage is 10 per cent or, if the Bank, by order made after consulting the Minister, prescribes some other percentage, that other percentage.
			(5) An order under subsection (4) may make such transitional or temporary provisions in relation to the acquisition or disposal of the relevant shares as the Bank considers necessary to enable the order to have full effect.
			(6) This section has effect despite anything in section 32 of the Companies Act 1963 .
			(7) In this section—
			‘assurance company’ means a company that is the holder of an authorisation under the European Communities (Life Assurance) Regulations 1984 ( S.I. No. 57 of 1984 );
			‘holding company’ has the meaning given by section 155 of the Companies Act 1963 ;
			‘life assurance fund’ means the total fund of assets maintained by a life assurance company in respect of its life assurance business, not being shareholders' assets.”.

PART 9

Amendment of Central Bank Act 1989

Item	Provision affected	Amendment
1.	Section 3	Substitute the following definition for the definition of the “Bank”:
		“ ‘the Bank’ means the Central Bank and Financial Services Authority of Ireland.”.
2.	Sections 12, 13, 14(3), 15, 16 and 18 to 21	Repeal the sections.
3.	Section 23	Repeal the section.
4.	Section 25A (as inserted by section 69 of the Central Bank Act 1997 )	Repeal the section.
5.	Section 50	Substitute the following section:
		“Right of Bank to be represented at meetings of committees of inspection.	50.—(1) An authorised person may attend any meeting of creditors of a holder or former holder of a licence.
			(2) Either the Governor of the Bank or the Chief Executive of the Irish Financial Services Regulatory Authority may, in writing, appoint a person to be a member of a committee of inspection appointed in respect of the holder or former holder of a licence.
			(3) An authorised person is not to be treated as a member of such a committee of inspection for the purpose of computing the minimum or maximum numbers of members of the committee prescribed under the Companies Acts 1963 to 2001. Nor may an authorised person be removed from membership of the committee without the consent of the Bank.
			(4) In this section—
			‘authorised person’ means a person appointed under subsection (2);
			‘committee of inspection’ means a committee of inspection appointed under section 233 of the Companies Act 1963 .”.

PART 10

Amendment of Building Societies Act 1989

Item	Provision affected	Amendment
1.	Section 2	(a) In subsection (1), substitute the following definition for the definition of the “Central Bank”:
		“ ‘Central Bank’ means the Central Bank and Financial Services Authority of Ireland;”;
		(b) in subsection (1), insert the following definitions after the definition of “the public file”:
		“ ‘Regulatory Authority’ means the Irish Financial Services Regulatory Authority;
		‘related body’, in relation to a building society, means a body corporate that is, or was at the relevant time, a subsidiary or other associated body of the society;”.
2.	Section 8	Delete subsection (3).
3.	Section 41	Substitute the following sections:
		“Power to investigate business activities of building societies and related bodies.	41.—(1) A responsible authority may authorise in writing a qualified person to investigate the business of a building society or a related body, or any aspect of that business, and to report to the Bank on the outcome of the investigation.
			(2) An authorised person may, at any reasonable time on production of evidence of the person's authorisation, enter the premises of a society or a related body for the purpose of carrying out such an investigation.
			(3) An authorised person who has entered premises in accordance with subsection (2) may do all or any of the following:
			(a) inspect the premises;
			(b) request any person on the premises who apparently has control of, or access to, documents or material relating to the business of the society or body concerned to produce the documents or material to the authorised person for inspection;
			(c) inspect documents and material so produced, or found in the course of inspecting the premises, and, in the case of documents, take copies of them or of any parts of them;
			(d) if a person who is requested to produce a particular document or material relating to that business is unable to produce it, request the person to state, to the best of that person's knowledge and belief, where the document or material is located;
			(e) request any person (including a person who is not on the premises at the relevant time) who appears to the authorised person to have or to have access to information relating to the documents or material, or to the business of that society or body, to provide that information or to answer questions with respect to the documents or material or that business.
			(4) A person to whom a request is made in accordance with subsection (3) shall—
			(a) comply with the request so far as it is possible to do so, and
			(b) give such other assistance and information to the authorised person with respect to the business of the society or body concerned as is reasonable in the circumstances.
			(5) The requirement to comply with a request made under subsection (3) extends to—
			(a) a liquidator of the building society or related body concerned, or
			(b) any person who is or has been an officer, employee or agent of that society or body.
			(6) If any person from whom production of a document or material is required claims a lien on the document or material, its production does not affect the lien.
			(7) Nothing in this section requires a legal practitioner to produce a document or material containing a privileged communication made by or to the practitioner as such or to provide information contained in such a communication.
			(8) In this section—
			‘authorised person’ means a person authorised under subsection (1);
			‘legal practitioner’ means a barrister or solicitor;
			‘qualified person’ means an officer or employee of the Central Bank or any other person who, in the opinion of the relevant responsible authority, has appropriate qualifications or experience to carry out the responsibilities of an authorised person;
			‘responsible authority’ means the Governor of the Central Bank or the Chief Executive of the Regulatory Authority.
		Central Bank may require society or body to provide information relating to business activities.	41A.—(1) The Central Bank may, by notice in writing served on a building society or related body, require the society or body to provide that Bank with—
			(a) such information, documents, or other material or explanation of matters, that relate to the business or the plans for the future development of the society or the body as may be specified in the notice, and
			(b) a report by a person approved by that Bank on, or on specified aspects of, information or documents, or other material so provided.
			(2) A requirement under this section may be imposed on a society in relation to information, documents or other material in the possession or control of a related body outside the State.
			(3) A building society or related body on which a notice is served under this section shall comply with the notice within such period, or at such time and place, as may be specified in the notice.
			(4) The requirement to comply with a notice served under this section extends to—
			(a) a liquidator of the building society or related body concerned, or
			(b) any person who is or was formerly an officer, employee or agent of that society or body, or
			(c) any person who appears to the Central Bank to have or to have access to the information, document, material or explanation.
			(5) Nothing in this section requires a legal practitioner to produce a document or material containing a privileged communication made by or to the practitioner as such or to provide information contained in such a communication.
			(6) In this section—
			‘agent’, in relation to a building society or related body, means its bankers, accountants, solicitors, auditors and its financial and other advisers;
			‘legal practitioner’ means a barrister or solicitor.”.
4.	Section 44	Repeal the section.
5.	Section 119	(a) In subsection (1)(a)(i), insert “or” after “means,”;
		(b) substitute the following subparagraph for subsection (1)(a)(ii):
		“(ii) contravenes section 17, 18(3) or 25, or”;
		(c) in subsection (1)(a)(iv), insert “or” after “section 39”;
		(d) in subsection (1)(a), insert the following subparagraphs after subparagraph (iv):
		“(v) fails to comply with a request made under section 41 or 41A, or
		(vi) in purporting to comply with such a request, gives information that the person knows to be false or misleading, or
		(vii) obstructs an authorised person in the exercise of a power conferred by section 41,”.
6.	Section 122	Substitute the following section:
		“Public file to be kept in respect of society.	122.—(1) The Central Bank shall prepare and keep a file relating to each building society. The file is to be known as the public file of the society and must contain the documents or, if the case so requires, copies of the documents, and the records of the matters, directed by or under this Act to be kept in the public file of the society.
			(2) The Central Bank shall ensure that a society's public file is kept at a specified office of that Bank and that the file is made available for inspection by members of the public during the ordinary business hours of that office.
			(3) If a society's public file is kept in a form that is not immediately legible, the Central Bank shall make available a legible version of that file.
			(4) A person who, during the ordinary business hours of the Bank, attends the office at which the Central Bank keeps the public files of societies is entitled—
			(a) to inspect without charge the publice file of a specified society, and
			(b) on payment of the fee (if any) prescribed under section 33K of the Central Bank Act 1942 , for the purposes of this subsection, to obtain a copy of all or any of the documents or records kept in the public file of the society.”.

PART 11

Amendment of Trustee Savings Banks Act 1989

Item	Provision affected	Amendment
1.	Section 3	In subsection (1), substitute the following definition for the definition of “the Central Bank”:
		“ ‘Central Bank’ means the Central Bank and Financial Services Authority of Ireland;”.
2.	Section 24	Substitute the following sections:
		“Trustee savings banks to keep certain records.	24.—(1) A trustee savings bank shall—
			(a) keep at an office or offices within the State such records as may be specified from time to time by the Central Bank, and
			(b) notify the Central Bank in writing of the address of the office or offices where those records are kept.
			Different kinds of records may be specified under this subsection for different trustee savings banks.
			(2) The requirement imposed by subsection (1) is additional to any other requirement imposed by law with respect to the keeping of records by a trustee savings bank.
			(3) A trustee savings bank shall keep the records referred to in subsection (1) for such period as the Central Bank notifies in writing to that holder.
			(4) A trustee savings bank or related body who fails to comply with a requirement of this section commits an offence.
			(5) In this section, ‘records’ includes books and all other kinds of documents, and also includes—
			(a) information kept in a non-legible form (whether electronically or otherwise) that is capable of being reproduced in a legible form, and
			(b) the means (if any) by which the information is capable of being reproduced.
		Powers of authorised persons with respect to trustee savings banks.	24A.—(1) A responsible authority may, in writing, authorise an employee of the Central Bank or a suitably qualified person to investigate the business, or any aspect of the business, of a trustee savings bank or a related body.
			(2) An authorised person may, at all reasonable times on production of the person's authorisation, enter premises at which a trustee savings bank or a related body carries on business.
			(3) An authorised person who has entered premises in accordance with subsection (2) may exercise all or any of the following powers:
			(a) inspect the premises;
			(b) request any person on the premises who apparently has control of, or access to, prescribed records to produce the records for inspection;
			(c) inspect any records produced in accordance with the request, or found on the premises in the course of inspecting the premises;
			(d) take copies of those records or of any part of them;
			(e) request any person who the authorised person reasonably believes has information relating to the records, or to the business of the licence holder, to answer questions with respect to the records or that business.
			(4) A person to whom a request is made in accordance with subsection (3) shall—
			(a) comply with the request so far as it is possible to do so, and
			(b) give such other assistance and information to the authorised person with respect to the business of the licence holder as is reasonable in the circumstances.
			(5) The powers conferred by subsection (3) may also be exercised in relation to any other person who, in the opinion of the Central Bank, is in possession of information that is materially relevant to the exercise of those powers in relation to a trustee savings bank or a related body.
			(6) The production of a record in compliance with a request made under this section does not prejudice a person's lien over the record.
			(7) Nothing in this section requires a legal practitioner to produce a record that contains a privileged communication made by or to the practitioner or to divulge any information that relates to the communication.
			(8) A person who—
			(a) obstructs an authorised person in the exercise of a power conferred by this section, or
			(b) without reasonable excuse, fails to comply with a request made under this section, or
			(c) in purported compliance with such a request, gives information that the person knows to be false or misleading,
			commits an offence.
			(9) In this section—
			‘associated company’, in relation to a trustee savings bank, means a company in respect of which not less than 20 per cent of the nominal value of the company's equity share capital, or shares carrying voting rights (other than voting rights that arise only in specified circumstances), are held by the bank,
			‘authorised person’ means any person authorised under subsection (1);
			‘company’ has the meaning given by section 155 of the Companies Act 1963 ;
			‘holding company’ has the meaning given by section 155 of the Companies Act 1963 ;
			‘legal practitioner’ means a barrister or solicitor;
			‘prescribed record’, in relation to a trustee savings bank, means a record that is required to be kept under section 24;
			‘related body’ means—
			(a) a subsidiary company of a trustee savings bank, or
			(b) if the bank is a subsidiary—
			(i) its holding company, or
			(ii) any other subsidiary of its holding company,
			or
			(c) an associated company of the bank;
			‘responsible authority’ means the Governor of the Central Bank or the Chief Executive of the Irish Financial Services Regulatory Authority;
			‘subsidiary company’ has the meaning given by section 155 of the Companies Act 1963 ;
			‘suitably qualified person’ means any person (other than an employee of the Central Bank) who, in the opinion of the relevant responsible authority, has the qualifications and experience necessary to exercise the powers conferred on authorised persons by this section.”.
3.	Section 62	In subsection (1), insert “24A,” after “24,”.

PART 12

Amendment of Companies (Amendment) Act 1990

Item	Provision affected	Amendment
1.	Section 1	Insert the following definition before the definition of “the Companies Acts”:
		“ ‘Central Bank’ means the Central Bank and Financial Services Authority of Ireland;”.

PART 13

Amendment of Companies Act 1990

Item	Provision affected	Amendment
1.	Section 3	In subsection (1), insert the following definition before the definition of “the Companies Acts”:
		“ ‘Central Bank’ means the Central Bank and Financial Services Authority of Ireland;”.
2.	Section 252	In subsection (1), delete the definition of “Bank”.
3.	Section 256	Substitute “Central Bank” for “Bank”, wherever occurring.
4.	Section 257	Substitute “Central Bank” for “Bank”, wherever occurring.
5.	Section 259	Substitute “Central Bank” for “Bank”, wherever occurring.
6.	Section 262	In paragraph (c), substitute “Central Bank” for “Bank”.

PART 14

Amendment of Unit Trusts Act 1990

Item	Provision affected	Amendment
1.	Section 1	In subsection (1), substitute the following definition for the definition of “Bank”:
		“ ‘the Bank’ means the Central Bank and Financial Services Authority of Ireland;”.
2.	Section 3	(a) Substitute the following subsections for subsection (2):
		“(2) The Bank shall ensure that the register is kept at a specified office of the Bank and that the file is made available for inspection by members of the public during the ordinary business hours of that office.
		(2A) If the register is kept in a form that is not immediately legible, the Bank shall make available a version of that file that is in legible form.
		(2B) A person who, during the ordinary business hours of the Bank, attends the office at which the Bank keeps the register is entitled—
		(a) to inspect the register without charge, and
		(b) on payment of the fee (if any) prescribed under section 33K of the Central Bank Act 1942 , for the purposes of this subsection, to obtain a copy of any entry in the register.”;
		(b) substitute the following subsection for subsection (6):
		“(6) The Bank shall include in its annual report to the Minister for Finance a report on performance of its functions under this Act.”.

PART 15

Amendment of Housing (Miscellaneous Provisions) Act 1992

Item	Provision affected	Amendment
1.	Section 1	In subsection (1), insert the following definition after the definition of “the Act of 1988”:
		“ ‘Central Bank’ means the Central Bank and Financial Services Authority of Ireland;”.
2.	Section 13	In subsection (1), delete “of Ireland”.

PART 16

Amendment of Investment Limited Partnership Act 1994

Item	Provision affected	Amendment
1.	Section 3	Substitute the following definition for the definition of “the Bank”:
		“ ‘the Bank’ means the Central Bank and Financial Services Authority of Ireland;”.
2.	Section 8	Substitute the following subsections for subsection (4):
		“(4) The application must be in a form approved or provided by the Bank and be accompanied by—
		(a) the fee (if any) prescribed under section 33K of the Central Bank Act 1942 for the purposes of this subsection, and
		(b) a copy of the partnership agreement, and
		(c) subject to subsection (5), a statement signed by or on behalf of a person proposed as a general partner under the partnership agreement containing the particulars specified in subsection (4A), and
		(d) such further particulars or information as the Bank may specify for the purposes of determining the application, and
		(e) such additional information as the Bank may specify in the course of determining the application.
		(4A) The following particulars are specified for the purposes of subsection (4)(b):
		(a) the name of the investment limited partnership;
		(b) a statement of the general nature of the investment objectives of that partnership;
		(c) the address in the State of the registered office and the principal place of business in the State of that partnership;
		(d) the period for which that partnership is entered into or, if no period is specified, a statement to the effect that that partnership is entered for an unlimited period and specifying the date of its commencement;
		(e) the full name and address of the person proposed under the partnership agreement as a general partner and, if more than one, of each of them, specifying each of them as a general partner, and if a general partner is a body corporate not incorporated under the laws of the State, a statement that the proposed general partner has complied with the requirements of section 352 of the Companies Act 1963 , and its registration number;
		(f) the full name and address of the proposed custodian appointed under the terms of the partnership agreement in whom the assets of that partnership are required to be entrusted for safe keeping.”.

PART 17

Amendment of Criminal Justice Act 1994

Item	Provision affected	Amendment
1.	Section 32	(a) In subsection (1), substitute the following paragraph for paragraph (j):
		“(j) a society registered as a credit union under the Credit Union Act 1997 .”;
		(b) in subsection (10), substitute the following paragraph for paragraph (e):
		“(e) following consultation with the Minister for Finance, prescribe amounts for the purposes of paragraphs (a) and (b) of subsection (7) of this section.”.
2.	Section 57	(a) In subsection (1), insert “and to the Revenue Commissioners” after “Garda Síochána”;
		(b) in subsection (2), insert “and to the Revenue Commissioners” after “Garda Síochána”;
		(c) in subsection (3), insert “and to the Revenue Commissioners” after “Garda Síochána”.

PART 18

Amendment of Solicitors (Amendment) Act 1994

Item	Provision affected	Amendment
1.	Section 78	(a) In subsection (1), substitute “Minister for Finance” for “Minister for Enterprise and Employment” (as construed as a reference to the Minister for Enterprise, Trade and Employment by virtue of the Enterprise and Employment (Alteration of Name of Department and Title of Minister) Order 1997 ( S.I. No. 305 of 1997 ));
		(b) in subsection (3)(e), substitute “Central Bank” for “Registrar of Friendly Societies”;
		(c) substitute the following subsection for subsection (17):
		“(17) In this section—
		‘Central Bank’ means the Central Bank and Financial Services Authority of Ireland;
		‘credit union’ means a society registered as a credit union under the Credit Union Act 1997 .”.

PART 19

Amendment of Stock Exchange Act 1995

Item	Provision affected	Amendment
1.	Section 3	(a) In subsection (1), substitute the following definition for the definition of “the Bank”:
		“ ‘Bank’ means the Central Bank and Financial Services Authority of Ireland;”;
		(b) in subsection (1), insert the following definition after the definition of “qualifying holding”:
		“ ‘Regulatory Authority’ means the Irish Financial Services Regulatory Authority;”.
2.	Section 21	Repeal the section.
3.	Section 28	Delete subsections (3) and (4).
4.	Section 30	Substitute the following subsections for subsections (5) and (6):
		“(5) A responsible authority may, in writing, authorise a Director or employee of the Bank or some other suitably qualified person to attend a meeting of creditors of
		(a) an approved stock exchange or formerly approved stock exchange, or
		(b) an authorised member firm or formerly authorised member firm.
		(6) A responsible authority may, in writing, appoint a Director or employee of the Bank or some other suitably qualified person to be a member of a committee of inspection appointed in relation to—
		(a) an approved stock exchange or formerly approved stock exchange, or
		(b) an authorised member firm or formerly authorised member firm.
		(6A) A person appointed under subsection (6)—
		(a) is not to be counted in computing the maximum or minimum number of members of a committee of inspection prescribed by the Companies Acts, and
		(b) may not be removed from membership of the committee without the consent of the responsible authority concerned.
		(6B) In this section—
		‘committee of inspection’ means a committee of inspection appointed under section 233 of the Companies Act 1963 ;
		‘responsible authority’ means the Governor of the Bank or the Chief Executive of the Regulatory Authority.”.
5.	Section 36	Substitute the following subsections for subsection (1):
		“(1) If, on the basis of the information obtained through the first audit, the Bank has a real and substantial concern about the audited accounts of an approved stock exchange or an authorised member firm, it may direct the exchange or firm to submit for examination by an authorised person all or any of the following:
		(a) any accounts on which the auditor of the exchange or firm has reported;
		(b) any information that was verified by that auditor;
		(c) any information specified in the direction.
		(1A) On completing the examination, the authorised person concerned shall provide the Bank with a report setting out the results of the examination.
		(1B) A person is an authorised person for the purposes of this section if the person is appointed by—
		(a) the Governor of the Bank, or
		(b) the Chief Executive of the Regulatory Authority, or
		(c) some other person to whom the Governor of the Bank or the Chief Executive of that Authority has delegated responsibility for appointing persons (including an auditor) for those purposes.”.
6.	Section 53	Insert the following subsection after subsection (4):
		“(5) In this section, a reference to the Bank includes a delegate of the Bank and, if such a delegate is a body corporate, includes a member or employee of the body corporate.”.
7.	Section 55	Substitute the following section:
		“Appointment of authorised officers.	55.—(1) A responsible authority may, in writing, appoint persons to be authorised officers for the purposes of this Act.
			(2) A responsible authority who appoints an authorised officer shall provide the officer with a certificate of authority.
			(3) Whenever an authorised officer is requested to do so by a person in relation to whom the officer is exercising a power under this Act, the officer shall produce the officer's certificate of authority together with some form of personal identification.
			(4) In this section, ‘responsible authority’ means—
			(a) the Governor of the Bank, or
			(b) the Chief Executive of the Regulatory Authority, or
			(c) any person to whom the Governor of the Bank or the Chief Executive of that Authority has delegated responsibility for appointing persons under this section.”.

PART 20

Amendment of Investment Intermediaries Act 1995

Item	Provision affected	Amendment
1.	Section 2	(a) In subsection (1), substitute the following definition for the definition of “the Bank”:
		“ ‘the Bank’ means the Central Bank and Financial Services Authority of Ireland;”;
		(b) in subsection (1), insert the following definition after the definition of “regulated market”:
		“ ‘Regulatory Authority’ means the Irish Financial Services Regulatory Authority;”.
2.	Section 17	Substitute the following subsections for subsection (2):
		“(2) The supervisory authority concerned shall ensure that the Register of Investment Business Firms, or a copy of the Register, is kept at a place specified by the authority and is made available for inspection by members of the public during the ordinary business hours of that place.
		(2A) A person who, during the ordinary business hours of the supervisory authority, attends the place at which the Register or copy is kept is entitled—
		(a) to inspect the Register or copy without charge or make enquiries regarding the contents of the Register, and
		(b) on payment of the fee (if any) prescribed under section 33K of the Central Bank Act 1942 , for the purposes of this subsection, to obtain a copy of any entry in the Register or copy.
		(2B) Each supervisory authority shall also ensure—
		(a) that a list of firms deemed to be authorised under section 26 is kept at the same place, and
		(b) that the list is revised at such intervals as the supervisory authority considers appropriate.”.
3.	Section 20	Delete subsections (3) and (4).
4.	Section 22	Substitute the following subsections for subsections (5) and (6):
		“(5) A responsible authority may, in writing, authorise a Director or employee of the Bank or some other suitably qualified person to attend a meeting of creditors of an authorised or former authorised investment business firm.
		(6) A responsible authority may, in writing, appoint a Director or employee of the Bank or some other suitably qualified person to be a member of a committee of inspection appointed in relation to an authorised or former authorised investment business firm.
		(6A) A person appointed under subsection (6)—
		(a) is not to be counted in computing the maximum or minimum number of members of a committee of inspection prescribed by the Companies Acts, and
		(b) may not be removed from membership of the committee without the consent of the responsible authority concerned.
		(6B) In this section—
		‘committee of inspection’ means a committee of inspection appointed under section 233 of the Companies Act 1963 ;
		‘responsible authority’ means—
		(a) the Minister for Enterprise, Trade and Employment, or
		(b) the Governor of the Bank, or
		(c) the Chief Executive of the Regulatory Authority, or
		(d) any person to whom that Minister, Governor or Chief Executive has delegated responsibility for appointing persons under this section.”.
5.	Section 49	Delete subsection (2).
6.	Section 64	Substitute the following section:
		“Appointment of authorised officers.	64.—(1) A responsible authority may, in writing, appoint persons to be authorised officers for the purposes of this Act.
			(2) A responsible authority who appoints an authorised officer shall provide the officer with a certificate of authority.
			(3) Whenever an authorised officer is requested to do so by a person in relation to whom the officer is exercising a power under this Act, the officer shall produce the officer's certificate of authority together with some form of personal identification.
			(4) In this section, ‘responsible authority’ means—
			(a) the Minister for Enterprise, Trade and Employment, or
			(b) the Governor of the Bank, or
			(c) the Chief Executive of the Regulatory Authority, or
			(d) any person to whom the Governor of the Bank or the Chief Executive of that Authority has delegated responsibility for appointing persons under this section.”.

PART 21

Amendment of Consumer Credit Act 1995

Item	Provision affected	Amendment
1.	Section 2	(a) In subsection (1), delete the definitions of “authorised copy” and “authorised officer”;
		(b) in subsection (1), insert the following definition before the definition of “borrower”:
		“ ‘Bank’ means the Central Bank and Financial Services Authority of Ireland;”;
		(c) in subsection (1), delete the definition of “Central Bank”;
		(d) in the definition of “credit institution” in subsection (1), insert the following paragraph after paragraph (d):
		“(e) such person or class of persons as may be prescribed by the Bank for the purposes of this Act;”;
		(e) in the definition of “credit institution” in subsection (1), delete paragraph (g);
		(f) in subsection (1), insert the following definition after the definition of “installation charge”:
		“ ‘local authority’ means a local authority for the purposes of the Local Government Act 2001 ;”;
		(g) in subsection (1), delete the definition of “Minister”;
		(h) in subsection (1), insert the following definition after the definition of “partnership”:
		“ ‘pawnbroker’ means the holder of a licence granted under section 8 of the Pawnbrokers Act 1964 ;”;
		(i) in the definition of “prescribed” in subsection (1), substitute “made under this Act” for “made by the Minister”;
		(j) in subsection (1), insert the following definition after the definition of “record”:
		“ ‘Regulatory Authority’ means the Irish Financial Services Regulatory Authority;”;
		(k) in subsection (1), delete the definition of “regulations”.
2.	Section 3	(a) In subsection (2), substitute the following paragraph for paragraph (c):
		“(c) any transaction entered into by a pawnbroker in respect of a pledge on which a loan or advance is made or to be made, or anything done with a view to such a transaction being entered into,”;
		(b) in subsection (3), substitute the following paragraph for paragraph (a):
		“(a) The provisions of this Act may be applied to housing loans advanced by a local authority only by regulations made by the Minister for Finance after consultation with the Minister for the Environment and Local Government. Different provisions may be applied at different times to different classes of loans, by reference to such matters as that Minister considers appropriate.”.
3.	Parts IA and IB	Substitute for sections 4 to 8 the following Parts:
		“part ia
		Responsibilities and Powers of Director of Consumer Affairs
		Interpretation: Part IA.	4.—(1) In this Part—
			‘authorised officer’ means an authorised officer appointed under section 8A;
			‘designated provisions’ means the provisions of this Act referred to in subsection (2);
			‘Minister’ means the Minister for Enterprise, Trade and Employment;
			‘responsible authority’ means the Minister or the Director, as appropriate.
			(2) The provisions of this Act designated for the purposes of this Part are—
			(a) this Part and Part XI, and
			(b) Parts II, X and XIII in so far as they apply to credit intermediaries, and
			(c) such other provisions of this Act as are ancillary to those Parts.
		Functions of Director.	5.—(1) The Director has the following functions for the purposes of this Act:
			(a) to keep under general review practices or proposed practices in relation to any of the obli- gations imposed on persons by or under the designated provisions;
			(b) to carry out investigations of any such practices or proposed practices whenever the Director considers it in the public interest to do so or the Minister so requests;
			(c) to request persons engaging in or proposing to engage in such practices as are, or are likely to be, contrary to the obligations imposed on them by any designated provision to discontinue or not engage in those practices;
			(d) whenever a person in relation to whom such a request has been made engages in or is proposing to engage in any such practice, to bring civil proceedings in the High Court for an order requiring the person to discontinue or not to engage in the practice;
			(e) to investigate complaints concerning possible breaches of any of the designated provisions, but at the same time having regard to the availability of other procedures for resolving those complaints;
			(f) to publish codes of practice setting out conduct regarding agreements to which the designated provisions apply, in order to secure transparency and fairness in relation to the terms of those agreements and the conduct of agents dealing with consumers under those contracts;
			(g) to perform or exercise such other functions as are imposed or conferred on the Director by this or any other Act.
			(2) The Director may provide in response to complaints or otherwise, information or advice to consumers concerning agreements to which the designated provisions apply, and, in particular, on the obligations imposed on creditors or other persons by those provisions.
		Director to report and provide information to Minister.	6.—(1) The Director shall, not more than 3 months after the end of each year, present a report to the Minister of the Director's activities in that year in relation to the performance of the Director's functions under this Act.
			(2) The Minister shall arrange for a copy of the report to be laid before each House of the Oireachtas within 2 months after receiving it.
			(3) The Director shall provide the Minister with such information regarding the performance or exercise of the Director's functions under this Act as the Minister may from time to time require.
		Powers of Director in respect of investigations.	7.—(1) In conducting an investigation under the designated provisions, the Director may—
			(a) require any person who, in the opinion of the Director is in possession of information, or has or has access to a record or thing, that is relevant to the investigation to provide the information, record or thing to the Director, and
			(b) where appropriate, require the person to attend before the Director for that purpose.
			(2) A person to whom a requirement is made under this section shall comply with the requirement, but in doing so is entitled to the same immunities and privileges as if the person were a witness before a court.
			(3) A person shall not obstruct or impede the Director in the performance or exercise of the Director's functions under this Act.
		Directions of Director in respect of statements and notices.	8.—(1) The Director may, in the interests of better informing consumers, give directions as to the location and size of any statement or notice required under the designated provisions. The directions may be given in such manner as the Director thinks fit.
			(2) A person to whom such a direction is given shall comply with that direction.
		Appointment of authorised officers for purposes of this Part.	8A.—(1) A responsible authority may in writing appoint persons to be authorised officers for the purposes of all or any of the designated provisions.
			(2) An appointment under this section may be for a specified or unspecified period.
			(3) A responsible authority who appoints an authorised officer shall provide the officer with a certificate of authority.
			(4) Whenever an authorised officer is requested to do so by a person in relation to whom the officer is exercising a power under the designated provisions, the officer shall produce the officer's certificate of authority together with some form of personal identification.
			(5) The appointment of a person as an authorised officer ends—
			(a) when the responsible authority concerned revokes the appointment or the person dies or resigns from the appointment, or
			(b) if the appointment is for a fixed period, when the period ends, or
			(c) if the person appointed is employed in the office of that responsible authority, when the person ceases to be so employed.
		Powers of authorised officers under this Part.	8B.—(1) An authorised officer may, for the purpose of carrying out an investigation under this Part, do all or any of the following:
			(a) at all reasonable times enter any premises, at which there are reasonable grounds to believe that—
			(i) a trade or business, or any activity relating to a trade or business, is, or has been, carried on, or
			(ii) records relating to a trade, business or activity are kept;
			(b) search and inspect premises entered under paragraph (a) and any records on the premises;
			(c) secure the premises or part of the premises for later inspection, or any part of the premises in which the officer reasonably believes records relating to a trade or business are kept;
			(d) require any person who carries on a trade, business or related activity, or any person employed in or in connection with it—
			(i) to produce to the officer records relating to the trade, business or activity, and
			(ii) if the information is in a non-legible form, to reproduce it in a legible form or to give to the officer such information as the officer reasonably requires in relation to entries in the records;
			(e) inspect and take copies of records inspected or produced under this section (including in the case of information in a nonlegible form, a copy of all or part of the information in a permanent legible form);
			(f) remove and retain the records inspected or produced under this section for such period as may be reasonable to facilitate further examination (subject to the issue of a warrant for that purpose by a judge of the District Court);
			(g) require any such person to give to the officer information that the officer reasonably requires in relation to the trade, business or activity concerned, or in relation to the persons carrying on that trade, business or activity or employed in or in connection with it;
			(h) require any such person to give to the officer any other information which the officer may reasonably require in regard to the trade, business or activity concerned;
			(i) require any person by or on whose behalf data equipment is or has been used, or any person who has charge of, or is otherwise concerned with the operation of, the equipment or any associated apparatus or material, to give the officer all reasonable assistance in relation to the equipment, apparatus or material;
			(j) require any other person employed in or in connection with the trade, business or activity concerned to give to the officer, at any reasonable time, information that the officer reasonably requires in relation to that trade, business or activity and to produce to the officer any records that the person has or has access to.
			(2) An authorised officer shall not, except with the consent of the occupier, enter a private dwelling unless the officer has obtained a warrant from the District Court under section 8C authorising the entry.
		Issue of search warrants.	8C.—(1) If an authorised officer is prevented from entering premises under section 8B, the officer or another authorised officer may apply for the issue of a warrant under subsection (2).
			(2) On considering an application under subsection (1), a judge of the District Court may issue a warrant authorising the applicant or another authorised officer to enter the premises, but only if the judge is satisfied on the sworn information of the applicant that there are reasonable grounds for suspecting that information required by the applicant or another authorised officer under section 8B is held on any premises.
			(3) A warrant issued under subsection (2) authorises the officer named in the warrant, at any time or times within 1 month after the date of issue of the warrant to exercise, by force if necessary, all or any of the powers conferred on authorised officers by section 8B. If, when attempting to enter the premises specified in the warrant, the officer is requested to produce the warrant for inspection, the officer may exercise those powers only after complying with the request.
		Obstruction of authorised officer when exercising powers.	8D.—A person shall not—
			(a) obstruct or interfere with an authorised officer when exercising the powers conferred by this Part, or
			(b) without reasonable excuse, fail to comply with a requirement made by an authorised officer under this Part, or
			(c) give to an authorised officer information that the person knows or ought to know is false or misleading.
		Authorised officers may be accompanied by other persons when exercising powers.	8E.—An authorised officer can, if the officer thinks it necessary, be accompanied by a member of the Garda Síochána or by another authorised officer when exercising a power conferred on authorised officers by this Part.
		Prohibition on unauthorised disclosure of information.	8F.—A person shall not disclose confidential information obtained—
			(a) as an authorised officer, or
			(b) as a member of the staff of, or as adviser or consultant to, the Director,
			unless duly authorised by the Director or by a member of staff authorised by the Director.
		part ib
		Functions and Powers of Central Bank and Financial Services Authority of Ireland
		Interpretation: Part IB.	8G.—(1) In this Part—
			‘authorised officer’ means an authorised officer appointed under section 8L;
			‘designated provisions’ means the provisions of this Act referred to in subsection (2);
			‘Minister’ means the Minister for Finance;
			‘responsible authority’ means the Minister or the Bank.
			(2) The provisions of this Act designated for the purposes of this Part are—
			(a) this Part and Parts III, IV, V, VI, VII, VIII, IX and XII, and
			(b) Parts II, X and XIII in so far as they apply to persons who enter into agreements with consumers otherwise than as credit intermediaries, and
			(c) such other provisions of this Act as are ancillary to those Parts.
		Functions of Bank under this Act.	8H.—(1) The Bank has the following functions for the purposes of this Act:
			(a) to keep under general review practices or proposed practices in relation to any of the obligations imposed on persons by or under the designated provisions;
			(b) to carry out investigations of any such practices or proposed practices whenever the Bank considers it in the public interest to do so or the Minister so requests;
			(c) to request persons engaging in or proposing to engage in such practices as are, or are likely to be, contrary to the obligations imposed on them by a designated provision discontinue or not engage in those practices;
			(d) whenever a person in relation to whom such a request has been made engages in or is proposing to engage in any such practice, to bring civil proceedings in the High Court for an order requiring the person to discontinue or not to engage in the practice;
			(e) to investigate complaints concerning possible breaches of any of the designated provisions, but at the same time having regard to the availability of other procedures for resolving those complaints;
			(f) to publish codes of practice setting out conduct relating to agreements to which the designated provisions apply, in order to secure transparency and fairness in relation to the terms of those agreements and the conduct of agents dealing with consumers under those contracts;
			(g) to perform or exercise such other functions as are imposed or conferred on the Bank by this Act.
			(2) The Bank may provide in response to complaints or otherwise, information or advice to consumers concerning agreements to which the designated provisions apply, and, in particular, on the obligations imposed on creditors or other persons by those provisions.
		Bank to provide information to Minister.	8I.—The Bank shall provide the Minister with such information regarding the performance or exercise of the Bank's functions under this Act as the Minister may require from time to time.
		Bank to prepare annual report of its activities under this Act	8J.—(1) The Bank shall, within 4 months after the end of each financial year, prepare a report setting out the Bank's activities in that year in relation to the performance or exercise of the Bank's functions under this Act.
			(2) The Bank shall include the report in, or attach the report to, the report presented to the Minister under section 61 of the Central Bank Act 1942 .
		Powers of Bank in respect of investigations.	8K.—(1) In conducting an investigation under the designated provisions, the Bank may—
			(a) require any person who, in the opinion of the Bank is in possession of information, or has or has access to a record or thing, that is relevant to the investigation to provide the information, record or thing to the Bank, and
			(b) where appropriate, require the person to attend before the Bank for that purpose.
			(2) A person to whom a requirement is made under this section shall comply with the requirement, but in doing so is entitled to the same immunities and privileges as if the person were a witness before a court.
			(3) A person shall not obstruct or interfere with the Bank in the performance or exercise of the Bank's functions under this Act.
		Directions of Bank in respect of statements and notices	8L.—(1) The Bank may, in the interests of better informing consumers, give directions as to the location and size of any statement or notice required under the designated provisions. The directions may be given in such manner as the Bank thinks fit.
			(2) A person to whom such a direction is given shall comply with the direction.
		Appointment of authorised officers for purposes of this Part.	8M.—(1) A responsible authority may in writing appoint persons to be authorised officers for the purposes of all or any of the designated provisions.
			(2) An appointment under this section may be for a specified or unspecified period.
			(3) A responsible authority who appoints an authorised officer shall provide the officer with a certificate of authority.
			(4) Whenever an authorised officer is requested to do so by a person in relation to whom the officer is exercising a power under the designated provisions, the officer shall produce the officer's certificate of authority together with some form of personal identification.
			(5) The appointment of a person as an authorised officer ends—
			(a) when the responsible authority concerned revokes the appointment or the person dies or resigns from the appointment, or
			(b) if the appointment is for a fixed period, when the period ends, or
			(c) if the person appointed is an officer of the responsible authority, when the person ceases to be such an officer.
		Powers of authorised officers.	8N.—(1) An authorised officer may, for the purpose of carrying out an investigation under this Part, do all or any of the following:
			(a) at all reasonable times enter any premises, at which there are reasonable grounds to believe that—
			(i) a trade or business, or any activity relating to a trade or business, is, or has been, carried on, or
			(ii) records relating to a trade, business or activity are kept;
			(b) search and inspect premises entered under paragraph (a) and any records on the premises;
			(c) secure the premises or part of the premises for later inspection, or any part of the premises in which the officer reasonably believes records relating to a trade or business are kept;
			(d) require any person who carries on a trade, business or activity, or any person employed in or in connection with it—
			(i) to produce to the officer records relating to the trade, business or activity, and
			(ii) if the information is in a non-legible form, to reproduce it in a legible form or to give to the officer such information as the officer reasonably requires in relation to entries in the records;
			(e) inspect and take copies of records inspected or produced under this section (including in the case of information in a nonlegible form, a copy of all or part of the information in a permanent legible form);
			(f) remove and retain the records inspected or produced under this section for such period as may be reasonable to facilitate further examination (subject to the issue of a warrant for that purpose by a judge of the District Court);
			(g) require any such person to give to the officer information that the officer reasonably requires in relation to the trade, business or activity concerned, or in relation to the persons carrying on that trade, business or activity or employed in or in connection with it;
			(h) require any such person to give to the officer any other information which the officer may reasonably require in regard to the trade, business or activity concerned;
			(i) require any person by whom or on whose behalf data equipment is or has been used, or any person who has charge of, or is otherwise concerned with the operation of, the equipment or any associated apparatus or material, to give the officer all reasonable assistance in relation to the equipment, apparatus or material;
			(j) require any other person employed in or in connection with the trade, business or activity concerned to give to the officer, at any reasonable time, information that the officer reasonably requires in relation to that trade, business or activity and to produce to the officer any records that the person has or has access to.
			(2) An authorised officer shall not, except with the consent of the occupier, enter a private dwelling unless the officer has obtained a warrant from the District Court under section 8N authorising the entry.
		Issue of search warrants.	8O.—(1) If an authorised officer is prevented from entering premises under section 8N, the officer or another authorised officer may apply for the issue of a warrant under subsection (2).
			(2) On considering an application under subsection (1), a judge of the District Court may issue a warrant authorising the applicant or another authorised officer to enter the premises, but only if the judge is satisfied on the sworn information of the applicant that there are reasonable grounds for suspecting that information required by the applicant or another authorised officer under section 8N is held on any premises.
			(3) A warrant issued under subsection (2) authorises the officer named in the warrant, at any time or times within 1 month after the date of issue of the warrant to exercise, by force if necessary, all or any of the powers conferred on authorised officers by section 8N. If, when attempting to enter the premises specified in the warrant, the officer is requested to produce the warrant for inspection, the officer may exercise those powers only after complying with the request.
		Obstruction of authorised officer when exercising	8P.—A person shall not— (a) obstruct or interfere with an authorised officer when exercising the powers conferred by this Part, or
			(b) without reasonably excuse, fail to comply with a requirement made by an authorised officer under this Part, or
			(c) give to an authorised officer information that the person knows or ought to know is false or misleading.
		Authorised officers may be accompanied by other persons when exercising powers.	8Q.—An authorised officer can, if the officer thinks it necessary, be accompanied by a member of the Garda Síochána or by another authorised officer when exercising a power conferred on authorised officers by this Part.”.
4.	Part 1C	Insert the following heading after section 8:
		“part ic
		Provisions Applicable to Director and Bank”.
5.	Section 9	(a) In subsection (2), substitute “Bank” for “Minister”;
		(b) in subsection (3), substitute “Bank” for “Director”.
6.	Section 12	Substitute the following paragraphs for subsection (1)(a):
		“(a) in Part IA, contravenes section 7(2) or (3), 8(2), 8D or 8F,
		(aa) in Part IB, contravenes section 8K(2) or (3), 8L(2) or 8P,”.
7.	Section 14	Substitute the following subsections for subsection (1):
		“(1) An offence under this Act for contravening a provision designated for the purposes of Part IA may be prosecuted summarily only by the Director.
		(1A) An offence under this Act for contravening a provision designated for the purposes of Part IB (other than a provision of Part VIII) may be prosecuted summarily only by the Bank.”.
8.	Section 15	Substitute the following section:
		“Cost of prosecution.	15.—(1) If a person is convicted of an offence for contravening a provision designated for the purposes of Part IA, the court shall, unless it is satisfied there are special and substantial reasons for not doing so, order the person to pay to the Director such amount of costs and expenses as the Director has, in the opinion of the court, incurred in investigating and prosecuting the offence.
			(2) If a person is convicted of an offence for contravening a provision designated for the purposes of Part IB, the court shall unless it is satisfied there are special and substantial reasons for not doing so, order the person to pay to the Bank such amount of costs and expenses as the Bank has, in the opinion of the court, incurred in investigating and prosecuting the offence.”.
9.	Section 16	Substitute the following section:
		“Director and Bank to be immune from certain civil proceedings.	16.—(1) Civil proceedings may not be brought against the Director for failure to perform or exercise an obligation imposed on the Director by this Act, unless the failure is wilful.
			(2) Civil proceedings may not be brought against the Bank for failure to perform or exercise an obligation imposed on the Bank by this Act, unless the failure is wilful.”.
10.	Section 18	Substitute the following section:
		“Expenses incurred in administering this Act.	18.—(1) The expenses incurred by the Minister for Enterprise, Trade and Employment and the Director in administering the provisions of this Act designated for the purposes of Part IA are, to the extent approved by the Minister for Finance, payable out of money provided by the Oireachtas.
			(2) The expenses incurred by the Minister for Finance in administering the provisions of this Act designated for the purposes of Part IB are payable out of money provided by the Oireachtas.”.
11.	Section 28	Substitute the following section:
		“Regulations relating to advertising availability and cost of credit.	28.—(1) The Bank may make regulations amending section 21, 22, 23, 24 or 25 with respect to the form or content of advertisements relating to the availability or the cost or the provision of credit to consumers.
			(2) The Bank may exercise the power conferred by subsection (1) only after consulting with, or at the request of, the Director and only after obtaining the consent of the Minister for Finance.
			(3) The Bank shall consult the Minister for the Environment and Local Government before making regulations under this section relating to housing loans.”.
12.	Section 37	Substitute the following section:
		“Regulations relating to form and content of credit agreements.	37.—(1) The Bank may make regulations amending section 30, 31, 32(3) to 32(5), 34 or 35 with respect to the form or content of credit agreements.
			(2) The Bank may exercise the power conferred by subsection (1) only after consulting with, or at the request of, the Director and only after obtaining the consent of the Minister for Finance.”.
13.	Section 43	Substitute the following subsection for subsection (5):
		“(5) A request referred to in subsection (1) must be accompanied by a fee of €2.50 or, if some other amount is specified in a regulation made by the Bank for the purposes of this subsection, that other amount. The Bank may make such a regulation only after consulting the Director.”.
14.	Section 47	Substitute the following subsection for subsection (5):
		“(5) If an application is made under subsection (1) in relation to a credit agreement, the Circuit Court may not make a declaration under this section unless it has given the Bank an opportunity to be heard at the hearing to determine the application.”.
15.	Section 48	In subsection (2), substitute “Bank” for “Director”.
16.	Section 52	Substitute the following section:
		“Consumer entitled to discharge agreement early.	52.—(1) A consumer is entitled to discharge the consumer's obligations under an agreement at any time before the time fixed by the agreement for its termination.
			(2) The consumer shall exercise the entitlement by giving notice of termination in writing to the creditor or the owner (as the case requires) of the consumer's intention to determine the agreement.
			(3) Where the consumer exercises the entitlement, the creditor or owner shall allow a reduction in the total cost of credit under the agreement.
			(4) Except where subsection (6) applies, the reduction is to be calculated in accordance with a method or formula approved for that purpose by the Bank.
			(5) The Bank may approve different methods or formulas for the purpose of subsection (4).
			(6) The Minister for Finance may, after consulting the Bank, make a regulation prescribing a method or formula for calculating the reduction in the total cost of credit under agreements generally or any class of agreement.
			(7) A method or formula prescribed by a regulation made under subsection (6) replaces a method or formula approved under subsection (4) to the extent that the regulation purports to supersede the method or formula so approved.”.
17.	Section 53	Substitute the following section:
		“Reduction where amount owed becomes payable before time fixed by agreement	53.—(1) A consumer is entitled to a reduction in the total cost of credit under an agreement if for any reason—
			(a) the amount owed by the consumer becomes payable before the time fixed by the agreement, or
			(b) any money becomes payable by the consumer before the time so fixed.
			(2) Except where subsection (3) applies, the reduction is to be calculated in accordance with a method or formula approved for that purpose by the Bank.
			(3) The Minister for Finance may, after consultation with the Bank, make a regulation prescribing a method or formula for calculating the reduction in the total cost of credit under agreements generally or any class of agreement.
			(4) A method or formula prescribed by a regulation made under subsection (3) replaces a method or formula approved under subsection (2) to the extent that the regulation purports to supersede the method or formula so approved.”.
18.	Section 60	Substitute the following section:
		“Regulations relating to form and content of hire-purchase agreements.	60.—(1) The Bank may make regulations amending section 58 or the Fifth Schedule with respect to the form or content of hire-purchase agreements.
			(2) The Bank may exercise the power conferred by subsection (1) only after consulting with, or at the request of, the Director and only after obtaining the consent of the Minister for Finance.”.
19.	Section 86	Substitute the following section:
		“Regulations relating to form and content of consumer-hire agreements.	86.—(1) The Bank may make regulations amending section 84 with respect to the form or content of consumer-hire agreements.
			(2) The Bank may exercise the power conferred by subsection (1) only after consulting with, or at the request of, the Director and only after obtaining the consent of the Minister for Finance.”.
20.	Section 92	Substitute the following section:
		“Application and interpretation of Part VIII.	92.—(1) This Part applies to and in respect of moneylending agreements and to all transactions (whatever their form) that substantially involve moneylending.
			(2) In this Part—
			‘authorised person’ means the Bank, a person authorised by the Bank for the purposes of this section, a member of the Irish Financial Services Regulatory Authority, an officer of the Bank or a member of the Garda Síochána;
			‘certified’ means certified by an authorised person.”.
21.	Section 93	(a) Substitute the following subsection for subsection (1):
		“(1) The Bank may grant to an applicant a moneylender's licence authorising the applicant to engage in the business of money-lending in a specified district court district on such terms and conditions as it thinks fit, but only after considering all objections made in respect of the application under subsection (2).”;
		(b) in subsection (2), delete “to the Director”;
		(c) substitute the following subsections for subsections (3) to (5):
		“(3) An application for a moneylender's licence must—
		(a) be in writing and in such form as the Bank may determine, and
		(b) be accompanied by the fee (if any) prescribed under section 33K of the Central Bank Act 1942 , for the purposes of this section.
		(4) The fee referred to in subsection (3)(b) may be fixed by reference to a district court district and lower fees may be fixed for additional district court districts.
		(5) The application must contain the following information:
		(a) the true name and the business name (if any) of the applicant;
		(b) the name under which the applicant intends to engage in or engages in the business of moneylending;
		(c) the address of any premises at which the applicant is carrying on or proposes to carry on the business of moneylending;
		(d) an itemised statement of the proposed total cost of credit;
		(e) details of collection and all other charges not included in the cost of credit;
		(f) details of the applicant's terms and conditions for providing credit;
		(g) the name of every district court district in which the applicant carries on or proposes to carry on the business of moneylending;
		(h) a copy of any advertisement placed by the applicant as required under subsection (2);
		(i) such other information as the Bank may reasonably require.”;
		(d) in subsection (10), substitute “The Bank may refuse to grant a moneylender's licence on one or more of the following grounds” for “The Director may refuse to grant a moneylender's licence on one or more of the following grounds that”;
		(e) in subsection (10)(f) and (g), substitute “Bank” for “Director”, wherever occurring;
		(f) in subsections (11), (12), (13), (17) and (19), substitute “Bank” for “Director”, wherever occurring;
		(g) in subsection (11), delete “he is”;
		(h) in subsections (12) and (13), substitute “it” for “he”, wherever occurring;
		(i) in subsection (12), substitute “its” for “his”.
22.	Section 94	Substitute “a certified copy” for “an authorised copy”.
23.	Section 96	Substitute the following section:
		“Moneylender's licence not to be altered or falsified.	96.—(1) A person, other than an authorised person, shall not alter or attempt to alter a moneylender's licence or an authorised copy of such a licence.
			(2) A person shall not falsify or attempt to falsify a moneylender's licence or a certified copy of such a licence.”.
24.	Section 97	In subsection (1), substitute “Bank” for “Director”.
25.	Section 101	Substitute the following subsections for subsection (3):
		“(3) Neither a moneylender nor a person acting on the moneylender's behalf may divulge to a person other than an authorised person any of the contents of records kept by the moneylender under this section.
		(3A) The following persons are authorised for the purposes of subsection (3):
		(a) the borrower or an agent of the borrower;
		(b) the Bank, a Director of the Bank, an employee of the Bank, a delegate of the Bank or a member, officer or employee of such a delegate;
		(c) a court or an officer of a court.”.
26.	Section 103	In subsection (1)(d), substitute “Bank” for “Director”.
27.	Section 105	In subsection (2), substitute “section 8N” for “section 7”.
28.	Section 114	Substitute the following section:
		“Certain persons not to be regarded as moneylenders.	114.—The Minister for Finance may, after consulting the Bank, make regulations declaring that specified persons, or members of a specified class of persons, are not to be regarded as engaging in the business of moneylending for the purpose of this Part.”.
29.	Section 115	In subsection (2), insert the following definitions before the definition of “endowment loan”:
		“‘authorised person’ means the Bank, a person authorised by the Bank for the purposes of this section, a delegate of the Bank or a member, officer or employee of such a delegate;
		‘certified’ means certified by an authorised person;”.
30.	Section 116	(a) Substitute “Bank” for “Director”, wherever occurring;
		(b) substitute the following subsection for subsection (4):
		“(4) An application for an authorisation must be accompanied by the fee (if any) prescribed under section 33K of the Central Bank Act 1942 , for the purposes of this section.”;
		(c) delete subsection (5);
		(d) in subsection (9), delete “,namely, that”;
		(e) substitute the following subsection for subsection (10):
		“(10) The Minister for Finance may, after consulting the Bank, make regulations prohibiting the holder of an authorisation from acting as or claiming to be a mortgage intermediary, unless there is in force in respect of that holder a policy of professional indemnity insurance that complies with such requirements as are specified in those regulations.”;
		(f) in subsections (11), (12) and (13), substitute “it” for “he”, wherever occurring;
		(g) in subsection (12), substitute “its” for “his”.
31.	Section 117	In paragraph (a), substitute “a certified copy” for “an authorised copy”.
32.	Section 118	Substitute the following section:
		“Mortgage intermediaries authorisation not to be altered or falsified.	118.—(1) A person, other than an authorised person, shall not alter or attempt to alter a mortgage intermediaries authorisation or a certified copy of such an authorisation.
			(2) A person shall not falsify or attempt to falsify a mortgage intermediaries authorisation or a certified copy of such an authorisation.”.
33.	Section 119	Substitute the following section:
		“Amendment of mortgage intermediaries authorisation.	119.—(1) Immediately after the holder of a mortgage intermediaries authorisation—
			(a) ceases to act on behalf of an undertaking specified in the authorisation, or
			(b) begins to act as a mortgage intermediary on behalf of an undertaking not specified in the authorisation,
			that holder shall, in writing, notify the Bank of the event, and shall deliver the authorisation to the Bank.
			(2) On receiving the notice and authorisation, the Bank shall (at its option) either amend the authorisation, or issue another authorisation, that reflects the event.”.
34.	Section 120	Substitute the following section:
		“Certain persons not to be regarded as mortgage intermediaries.	120.—The Minister for Finance may, after consulting the Bank, make a regulation declaring that specified persons, or members of a specified class of persons, are not to be regarded as mortgage intermediaries for the purpose of this Part.”.
35.	Section 121	Substitute the following subsection for subsection (4):
		“(4) The Minister for Finance may, after consulting the Minister for the Environment and Local Government and the Bank, make a regulation varying—
		(a) the period referred to in subsection (2)(b), or
		(b) the period or years or the rate of interest, referred to in subsection (2)(c).”.
36.	Section 131	(a) Substitute the following subsection for subsection (1):
		“(1) The Minister for Finance may, after consulting the Minister for the Environment and Local Government and the Bank, make a regulation requiring the disclosure to the borrower of specified information relating to any insurance commission, introduction fee or other inducement, charge or expense that may be payable to a person or retained by a person—
		(a) because the borrower has taken out an insurance policy in connection with the making of a housing loan, or
		(b) because of the makin