S.I. No. 149/2018 - European Union (Financial Conglomerates) (Amendment) Regulations 2018
Notice of the making of this Statutory Instrument was published in | ||
“Iris Oifigiúil” of 8th May, 2018. | ||
I, PASCHAL DONOHOE, 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 Directive 2011/89/EU of the European Parliament and of the Council of 16 November 20111 , hereby make the following regulations: | ||
1. These Regulations may be cited as the European Union (Financial Conglomerates) (Amendment) Regulations 2018. | ||
2. The European Communities (Financial Conglomerates) Regulations 2004 ( S.I. No. 727 of 2004 ) are amended— | ||
(a) in Regulation 3(1) (amended by Regulation 2(2) of, and Schedule 2 to, the European Union (Insurance and Reinsurance Groups and Financial Conglomerates) (Amendment) Regulations 2014 ( S.I. No. 416 of 2014 )), in paragraph (a) of the definition of “group” by substituting “participation, and includes any subgroup thereof, or” for “participation, or”, and | ||
(b) in Regulation 4 (amended by Regulation 2(2) of, and Schedule 2 to, the European Union (Insurance and Reinsurance Groups and Financial Conglomerates) (Amendment) Regulations 2014 ( S.I. No. 416 of 2014 ))— | ||
(i) in paragraph (6), by substituting for subparagraph (b) the following: | ||
“(b) that all or any of Regulations 9 to 11 should not be applied to the group,”, and | ||
(ii) in paragraph (7) by substituting for subparagraph (b) the following: | ||
“(b) not to apply the provisions of Regulations 9 to 11,”. | ||
| ||
GIVEN under my Official Seal, | ||
1 May 2018. | ||
PASCHAL DONOHOE, | ||
Minister for Finance. | ||
EXPLANATORY NOTE | ||
(This note is not part of the Instrument and does not purport to be a legal interpretation.) | ||
This statutory instrument amends the European Union (Financial Conglomerates) Regulations 2004 ( S.I. No. 727 of 2004 ). The amendments include a technical amendment to definitions and an amendment to address a referencing issue in Regulation 4. | ||
