S.I. No. 177/2023 - Central Bank Act 1942 (Service of Notices and Other Documents) (Amendment) Regulations 2023

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 14th April, 2023.

I, MICHAEL MCGRATH, Minister for Finance, in exercise of the powers conferred on me by section 61A of the Central Bank Act 1942 (No. 22 of 1942), and after consulting the Central Bank of Ireland, hereby make the following regulations:

1. (1) These Regulations may be cited as the Central Bank Act 1942 (Service of Notices and Other Documents) (Amendment) Regulations 2023.

(2) These Regulations shall come into operation on 20 April 2023.

2. The Central Bank Act 1942 (Service of Notices and Other Documents) Regulations 2013 ( S.I. No. 300 of 2013 ) are amended -

(a) in Regulation 3, by the insertion of the following paragraph after paragraph (d):

“(da) Part 3 of the Central Bank (Supervision and Enforcement) Act 2013 (No. 26 of 2013);”, and

(b) by the insertion of the following Regulation after Regulation 3:

“4. The Bank, the Governor or the Head of Financial Regulation may, in addition to the methods specified in section 61G(1) of the Central Bank Act 1942 , give or serve a notice or other document under -

(a) Part 3 of the Central Bank Reform Act 2010 (No. 23 of 2010), or

(b) regulations under section 53 of that Act,

to or on a natural person, body corporate or partnership, electronically, that is to say by electronic mail to an email address, or by facsimile number, furnished by the person to, or otherwise known to, the Bank, the Governor, or the Head of Financial Regulation.”.

GIVEN under my Official Seal,

5 April, 2023.

MICHAEL MCGRATH,

Minister for Finance.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

The Regulations amend the Central Bank Act 1942 (Service of Notices and Other Documents) Regulations 2013 ( S.I. No 300 of 2013 ) to include Part 3 of the Central Bank (Supervision and Enforcement) Act 2013 among the enactments to which those Regulations apply.

Pursuant to section 33 of the Central Bank (Individual Accountability Framework) Act 2023 , the references to “the Bank” in section 61G of the Central Bank Act 1942 will include, for the purposes of Part 3 the Central Bank Reform Act 2010 , the Governor and the Head of Financial Regulation.

On this basis, the new Regulation 4 provides that, for the purposes of Part 3 the Central Bank Reform Act 2010 , and any regulations made under section 53 of that Act, the Governor and the Head of Financial Regulation may serve documents electronically. This will facilitate the service of documents electronically for the purposes of the Central Bank’s Fitness and Probity regime.