S.I. No. 187/2018 - Central Bank Reform Act 2010 (Sections 20 and 22 - Credit Unions) (Amendment) Regulations 2018

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 8th June, 2018.

In exercise of the powers conferred on the Central Bank of Ireland (“the Bank”) by section 20 (1) and section 22 (2) of the Central Bank Reform Act 2010 the Bank hereby makes the following regulations:

1. These Regulations may be cited as the Central Bank Reform Act 2010 (Sections 20 and 22 — Credit Unions) (Amendment) Regulations 2018.

2. In these Regulations, “Principal Regulations” means the Central Bank Reform Act 2010 (Sections 20 and 22 - Credit Unions) Regulations 2013 ( S.I. No. 171 of 2013 ).

3. Regulation 4 of the Principal Regulations is amended by the insertion of “and Schedule 3” after the phrase “Schedule 2”.

4. The Principal Regulations are amended by the insertion therefor of the Schedule of these Regulations after Schedule 2 of SI 171 of 2013 (as amended).

5. These Regulations come into operation on 1 July 2018.

Signed for and on behalf of the CENTRAL BANK OF IRELAND,

31 May 2018.

ED SIBLEY,

Deputy Governor (Prudential Regulation).

Schedule

Schedule 3

Pre-Approval Controlled Functions

In relation to

Credit Unions with minimum total asset size of €100 million according to the credit union’s latest audited balance sheet.

A person who holds or performs the duties of any of the following positions or offices in the credit union:

(a) Risk Management Officer (CUPCF-3),

(b) Head of Internal Audit (CUPCF-4),

(c) Head of Finance (CUPCF-5).