Central Bank (Individual Accountability Framework) Act 2023

Amendment of section 31 of Act of 2010

21. Section 31 of the Act of 2010 is amended—

(a) in subsection (1), by the insertion of “or holding company” after “provider”,

(b) in subsection (2), by the substitution of “6 months” for “3 months”, and

(c) by the insertion of the following subsections after subsection (2):

“(2A) The making of an order under subsection (2) does not prevent the making of a further order.

(2B) Subject to subsection (2C), orders under subsection (2) shall not in total extend a suspension notice for more than 24 months from the end of the period of 6 months referred to in section 29(4).

(2C) Where a prohibition is imposed on the suspended person under section 43, or where the suspension notice was issued following the imposition of a prohibition under section 43, subsection (2B) does not apply, but orders under subsection (2) shall not extend the suspension notice beyond the time when an application under section 45 for confirmation of the prohibition notice has been disposed of.”.