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Financial Services (Deposit Guarantee Scheme) Act 2009

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Number 13 of 2009

FINANCIAL SERVICES (DEPOSIT GUARANTEE SCHEME) ACT 2009

ARRANGEMENT OF SECTIONS

Section

1. Definitions.

2. Amount of coverage in respect of eligible deposits.

3. Deposit protection account.

4. Amount to be maintained in deposit protection account.

5. Annual recalculation of amount of deposit.

6. Charges, etc., on deposit protection account.

7. Aggregate payment to deposit protection account by credit unions.

8. Reimbursement from Central Fund of certain payments by Bank.

9. Offence and penalty.

10. Regulations.

11. Amendments to Central Bank Act 1942.

12. Short title and commencement.

SCHEDULE

Amendments to Central Bank Act 1942

Acts Referred to

Building Societies Act 1989

1989, No. 17

Central Bank Act 1942

1942, No. 22

Central Bank Act 1971

1971, No. 24

Central Bank and Financial Services Authority of Ireland Act 2003

2003, No. 12

Credit Union Act 1997

1997, No. 15

European Communities (Amendment) Act 1993

1993, No. 25

Markets in Financial Instruments and Miscellaneous Provisions Act 2007

2007, No. 37

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Number 13 of 2009

FINANCIAL SERVICES (DEPOSIT GUARANTEE SCHEME) ACT 2009

AN ACT TO PROVIDE FOR THE MAKING OF REGULATIONS REGARDING THE AMOUNT PAYABLE TO A PERSON MAINTAINING ELIGIBLE DEPOSITS WITH A CREDIT INSTITUTION; TO PROVIDE FOR THE MAINTENANCE OF THE DEPOSIT PROTECTION ACCOUNT BY THE CENTRAL BANK AND FINANCIAL SERVICES AUTHORITY OF IRELAND; TO PROVIDE FOR THE MAINTENANCE BY CREDIT INSTITUTIONS OF DEPOSITS IN THE DEPOSIT PROTECTION ACCOUNT; TO PROVIDE FOR THE AMOUNT OF THE DEPOSIT AND ITS VARIATION; TO GIVE FURTHER EFFECT TO DIRECTIVE 94/19/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 30 MAY 1994 ON DEPOSIT GUARANTEE SCHEMES; TO AMEND THE CENTRAL BANK ACT 1942 AND TO PROVIDE FOR RELATED MATTERS.

[18th June, 2009]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: