Investment Funds, Companies and Miscellaneous Provisions Act 2005

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Number 12 of 2005

INVESTMENT FUNDS, COMPANIES AND MISCELLANEOUS PROVISIONS ACT 2005

Preliminary and General

Section
1.	Short title, collective citation and construction.
2.	Commencement.
3.	Interpretation generally.
4.	Orders and regulations.
5.	Expenses.

PART 2

Common Contractual Funds

6.	Interpretation (Part 2).
7.	Non-application of this Part to certain undertakings.
8.	Authorisation of non-UCITS common contractual funds.
9.	Public information and reporting on authorisation of common contractual funds.
10.	Powers of Bank.
11.	Refusal of authorisation.
12.	Alteration in deed of constitution of, or change in name of, common contractual fund.
13.	Replacement of management company or custodian.
14.	Obligation on management companies under common contractual funds to purchase units.
15.	Prohibition of certain transactions and making of certain profits by management companies, etc.
16.	Assets of common contractual funds.
17.	Liability of custodians of common contractual funds.
18.	Application of certain provisions of UCITS Regulations.
19.	Offences in relation to certain bodies.
20.	Offences under provisions of this Part.
21.	Penalties.

PART 3

Amendments to Part XIII of Act of 1990

22.	Amendment of section 252 of Act of 1990.
23.	Amendment of section 254 of Act of 1990.
24.	Amendment of section 255 of Act of 1990.
25.	Segregated liability of sub-funds — insertion of new sections in Part XIII of Act of 1990.
26.	Amendment of section 257 of Act of 1990.
27.	Amendment of section 260 of Act of 1990.
28.	Insertion of new section 260A in Act of 1990.

PART 4

Market Abuse

29.	Interpretation (Part 4).
30.	Regulations (Part 4).
31.	Repeal of Part V of Act of 1990 and Companies (Amendment) Act 1999.
32.	Conviction on indictment of offences under Irish market abuse law: penalties.
33.	Civil liability for certain breaches of Irish market abuse law.
34.	Supplementary rules, etc., by competent authority.
35.	Amendment of section 33AJ of Central Bank Act 1942.
36.	Amendment of section 33AK of Central Bank Act 1942.
37.	Application of Irish market abuse law to certain markets.

PART 5

Public Offers of Securities

38.	Interpretation (Part 5).
39.	Construction of certain terms in Act of 1963.
40.	Repeal of certain provisions of Act of 1963 and revocation.
41.	Civil liability for misstatements in prospectus.
42.	Section 41: exceptions and exemptions.
43.	Restriction of liability where non-equity securities solely involved.
44.	Indemnification of certain persons.
45.	Expert's consent to issue of prospectus containing statement by him or her.
46.	Regulations (Part 5).
47.	Penalties on conviction on indictment and defences in respect of certain offences.
48.	Untrue statements and omissions in prospectus: criminal liability.
49.	Local offers.
50.	Exclusion of Investment Intermediaries Act 1995.
51.	Power to make certain rules and issue guidelines.
52.	Avoidance of certain agreements.
53.	Amendment of section 53 of Act of 1963.
54.	Amendment of section 55 of Act of 1963.
55.	Amendment of section 57 of Act of 1963.

PART 6

Miscellaneous Company Law Amendments

56.	Amendment of section 60 of Act of 1963.
57.	Electronic filing agents.
58.	Section 57: supplemental provisions.
59.	Reservation of company name.
60.	Section 59: supplemental provisions.
61.	Amendment of section 128 of Act of 1963.
62.	Amendment of section 195 of Act of 1963.
63.	Amendment of section 302(1) of Act of 1963.
64.	Amendment of section 371(1) of Act of 1963.
65.	Amendment of section 12B of Companies (Amendment) Act 1982.
66.	Amendment of section 22 of Companies (Amendment) Act 1986.
67.	Amendment of section 19 of Act of 1990.
68.	Amendment of section 20 of Act of 1990.
69.	Amendment of section 21 of Act of 1990.
70.	Amendment of section 166 of Act of 1990.
71.	Amendment of section 242 of Act of 1990.
72.	Replacement of references to Companies Registration Office Gazette for references to Iris Oifigiúil.
73.	Miscellaneous amendments of Companies Acts related to penalties.
74.	Amendment of section 110A of Company Law Enforcement Act 2001.

PART 7

Miscellaneous Amendments

75.	Amendment of Irish Takeover Panel Act 1997.
76.	Amendment of section 45 of Competition Act 2002.
77.	Amendment of UCITS Regulations.
78.	Amendment of section 26 of Prices Act 1958.
79.	Amendment of section 23 of Restrictive Practices Act 1972.
80.	Amendment of section 17 of Consumer Information Act 1978.
81.	Amendment of section 6 of Sale of Goods and Supply of Services Act 1980.
82.	Amendment of section 13 of Consumer Credit Act 1995.
83.	Amendment of sections 6 and 7 of Package Holidays and Travel Trade Act 1995.
84.	Amendment of section 31 of National Standards Authority of Ireland Act 1996.
85.	Amendment of Industrial and Provident Societies Act 1893.
86.	Validation.
87.	Amendment of section 33AN of, and Schedule 2 to, Central Bank Act 1942.

SCHEDULE

Amendment of European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 ( S.I. No. 211 of 2003 ) as Amended

Acts Referred to
Assets Covered Securities Act 2001	2001, No. 47
Central Bank Act 1942	1942, No. 22
Central Bank and Financial Services Authority of Ireland Act 2003	2003, No. 12
Central Bank and Financial Services Authority of Ireland Act 2004	2004, No. 21
Companies Act 1963	1963, No. 33
Companies Act 1990	1990, No. 33
Companies (Amendment) Act 1982	1982, No. 10
Companies (Amendment) Act 1983	1983, No. 13
Companies (Amendment) Act 1986	1986, No. 25
Companies (Amendment) Act 1990	1990, No. 27
Companies (Amendment) Act 1999	1999, No. 8
Companies (Amendment) (No. 2) Act 1999	1999, No. 30
Companies (Auditing and Accounting) Act 2003	2003, No. 44
Companies Acts 1963 to 2003
Company Law Enforcement Act 2001	2001, No. 28
Competition Act 2002	2002, No. 14
Consumer Credit Act 1995	1995, No. 24
Consumer Information Act 1978	1978, No. 1
Credit Union Act 1966	1966, No. 19
Credit Union Act 1997	1997, No. 15
Dormant Accounts Act 2001	2001, No. 32
Electronic Commerce Act 2000	2000, No. 27
European Communities Act 1972	1972, No. 27
Industrial and Provident Societies Act 1893	56 & 57 Vict., c. 39
Industrial and Provident Societies (Amendment) Act 1913	3 & 4 Geo. 5. c. 31
Investment Intermediaries Act 1995	1995, No. 11
Investment Limited Partnerships Act 1994	1994, No. 24
Irish Takeover Panel Act 1997	1997, No. 5
Limited Partnerships Act 1907	7 Edw. 7 c. 24
National Standards Authority of Ireland Act 1996	1996, No. 28
Package Holidays and Travel Trade Act 1995	1995, No. 17
Partnership Act 1890	53 & 54 Vict., c. 93
Petty Sessions (Ireland) Act 1851	14 & 15 Vict., c. 93
Postal and Telecommunications Services Act 1983	1983, No. 24
Prices Act 1958	1958, No. 4
Prices (Amendment) Act 1972	1972, No. 20
Restrictive Practices Act 1972	1972, No. 11
Restrictive Practices (Amendment) Act 1987	1987, No. 31
Sale of Goods and Supply of Services Act 1980	1980, No. 16
Taxes Consolidation Act 1997	1997, No. 39
Unclaimed Life Assurance Policies Act 2003	2003 No. 2
Unit Trusts Act 1990	1990, No. 37

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Number 12 of 2005

INVESTMENT FUNDS, COMPANIES AND MISCELLANEOUS PROVISIONS ACT 2005

AN ACT TO MAKE PROVISION IN RELATION TO COLLECTIVE INVESTMENT UNDERTAKINGS OF THE KIND KNOWN AS “COMMON CONTRACTUAL FUNDS”; TO AMEND PART XIII OF THE COMPANIES ACT 1990 AND THE EUROPEAN COMMUNITIES (UNDERTAKINGS FOR COLLECTIVE INVESTMENT IN TRANSFERABLE SECURITIES) REGULATIONS 2003 (S.I. NO. 211 OF 2003); TO MAKE PROVISION IN RELATION TO CERTAIN OF THE MATTERS DEALT WITH BY ACTS ADOPTED BY INSTITUTIONS OF THE EUROPEAN COMMUNITIES IN THE FIELDS OF INSIDER TRADING AND MANIPULATION AND OTHER ABUSES OF FINANCIAL MARKETS AND IN THE FIELD OF OFFERS TO THE PUBLIC OF SECURITIES OR THE ADMITTANCE OF SECURITIES TO TRADING; TO EFFECT CERTAIN MISCELLANEOUS AMENDMENTS TO THE COMPANIES ACTS 1963 TO 2003; TO AMEND THE IRISH TAKEOVER PANEL ACT 1997 AND THE COMPETITION ACT 2002; TO INCREASE THE PENALTIES FOR OFFENCES UNDER THE PRICES ACT 1958, THE RESTRICTIVE PRACTICES ACT 1972 AND CERTAIN ENACTMENTS THAT RELATE TO PROTECTION OF THE CONSUMER; TO AMEND THE INDUSTRIAL AND PROVIDENT SOCIETIES ACT 1893 AND TO PROVIDE FOR RELATED MATTERS.

[29th June, 2005]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

Investment Funds, Companies and Miscellaneous Provisions Act 2005 Permanent Page URL

Investment Funds, Companies and Miscellaneous Provisions Act 2005

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