Consumer Protection (Regulation of Credit Servicing Firms) Act 2015

Amendment of section 3 of Central Bank (Supervision and Enforcement) Act 2013 (interpretation)

6. Section 3 of the Central Bank (Supervision and Enforcement) Act 2013 is amended—

(a) in subsection (1) by substituting the following for the definition of “customer”:

“‘customer’, in relation to a regulated financial service provider, means—

(a) any person to whom the regulated financial service provider provides or offers financial services,

(b) any person who requests the provision of financial services from the regulated financial service provider, or

(c) a relevant borrower in a case where the regulated financial service provider undertakes credit servicing in respect of the credit agreement concerned,

and includes a potential customer and a former customer;”,

and

(b) by inserting the following after subsection (1):

“(1A) For the purposes of paragraph (c) of the definition of ‘customer’ in subsection (1) ‘relevant borrower’, ‘credit servicing’ and ‘credit agreement’ have the same meaning as in section 28 of the Central Bank Act 1997 .”.