S.I. No. 11/2017 - European Union (Market Abuse) (Amendment) Regulations 2017.
Notice of the making of this Statutory Instrument was published in
“Iris Oifigiúil” of 27th January, 2017.
I, MICHAEL NOONAN, Minister for Finance, 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 full effect to Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 20141 and giving effect to Directive 2014/57/EU of the European Parliament and of the Council of 16 April 20142 and Commission Implementing Directive (EU) 2015/2392 of 17 December 20153 , hereby make the following regulations:
1. These Regulations may be cited as the European Union (Market Abuse) (Amendment) Regulations 2017.
2. The European Union (Market Abuse) Regulations 2016 ( S.I. No. 349 of 2016 ) are amended by the substitution of the following for Regulation 10:
“10.(1) A person who commits an offence under Regulation 5, 6, 7, 8 or 9 is liable on summary conviction to a class A fine or imprisonment for a term not exceeding 12 months or both.
(2) An offence under Regulation 5, 6, 7, 8 or 9 is an offence to which section 1368 (amended by section 8 of the Finance (Certain European Union and Intergovernmental Obligations) Act 2016 (No. 13 of 2016)) of the Companies Act 2014 (No. 38 of 2014) applies.”.
Given under my Official Seal,
16 January 2017.
Minister for Finance.