S.I. No. 247/1977 - European Communities (Freedom of Establishment and Freedom To Provide Services) (Moneylenders) Regulations, 1977.

S.I. No. 247 of 1977.

EUROPEAN COMMUNITIES (FREEDOM OF ESTABLISHMENT AND FREEDOM TO PROVIDE SERVICES) (MONEYLENDERS) REGULATIONS, 1977.

I, GERARD COLLINS, Minister for Justice, in exercise of the powers conferred on me by section 3 of the European Communities Act, 1972 (No. 27 of 1972), and for the purpose of giving effect to Council Directive No. 73/183/EEC of 28 June, 1973,¹ hereby make the following Regulations:

¹ O.J No. L194/1 of 16/7/73 (as corrected, OJ No. L17/1 of 22/1/74).

1. These Regulations may be cited as the European Communities (Freedom of Establishment and Freedom to Provide Services) (Moneylenders) Regulations, 1977.

2. (1) Section 6 (3) of the Moneylenders Act, 1933 (No. 36 of 1933), is hereby amended, as respects a beneficiary within the meaning of Council Directive No. 73/183/EEC of 28 June, 1973, by the substitution of "is a beneficiary within the meaning of Council Directive No. 73/183/EEC of 28 June, 1973 " for ", if an individual, is at the date of the application a national of Saorstát Eireann or, if a company, is at the said date an Irish-owned body corporate" and the said Section 6 (3), as so amended, is set out in the Table to this Regulation.

(2) In consequence of the aforesaid amendment sections 2 and 3 of the said Moneylenders Act, 1933, are hereby repealed.

(3) References in the Schedule to the Moneylenders Act Rules, 1933 (S.R. & O., No. 160 of 1933), to a national of Saorstát Eireann and to an Irish-owned body corporate shall be construed as references to such a beneficiary.

TABLE

(3) A certificate under this section shall not be granted to any applicant unless such applicant produces satisfactory evidence that such applicant is a beneficiary within the meaning of Council Directive No. 73/183/EEC of 28 June, 1973.

GIVEN under my Official Seal, this 2nd day of August, 1977.

GERARD COLLINS,

Minister for Justice.

EXPLANATORY NOTE.

Paragraph 2 (1) of these Regulations, which allows moneylenders' certificates to be granted to nationals and companies of other EEC Member States, gives effect, so far as moneylenders are concerned, to Council Directive No. 73/183/EEC of 28 June, 1973, on the abolition of restrictions on freedom of establishment and freedom to provide services in respect of self-employed activities of banks and other financial institutions. Paragraphs 2 (2) and 2 (3) are purely consequential provisions.