Financial Services and Pensions Ombudsman Act 2017

Expenses

3. (1) The expenses incurred by the Minister in the administration of this Act shall, to such extent as may be sanctioned by the Minister for Public Expenditure and Reform, be paid out of moneys provided by the Oireachtas.

(2) The expenses incurred by the Ombudsman in the performance of his or her functions under this Act—

(a) in so far as they relate to the investigation of complaints regarding financial service providers shall be paid out of moneys provided by the financial services industry levy, and

(b) in so far as they relate to the investigation of complaints regarding pension providers shall, to such extent as may be sanctioned by the Minister, be paid out of moneys provided by the Oireachtas.

(3) The calculation of expenses to be charged to the levy, under subsection (2)(a), and to the Oireachtas, under subsection (2)(b), shall be based on the percentage division of the workload of the office of the Ombudsman between—

(a) complaints relating to financial service providers, and

(b) complaints relating to pension providers,

dealt with by the Ombudsman in the previous financial year.

(4) If any issue arises as to whether any expenses fall within paragraph (a) or (b) of subsection (2), it shall be referred to the Minister whose decision on the matter shall be final.