Investor Compensation Act, 1998

Amendment of section 9 of Act of 1995.

53.—Section 9 of the Act of 1995 is hereby amended by the insertion after subsection (2) of the following subsection:

“(3)(a) The supervisory authority may arrange for the publication of notices in any of the newspapers circulating in the State or elsewhere or in the Iris Oifigiúil where the supervisory authority reasonably believes that a company registered in the State or any other person operating in the State is acting as an investment business firm or claiming or holding itself out to be an investment business firm without an authorisation as required in paragraph (a) or (b) of subsection (1) of this section.

(b) The supervisory authority shall endeavour to provide the investment business firm with seven days notice of its intention to publish in accordance with paragraph (a) of this subsection.”.