Central Bank (Individual Accountability Framework) Act 2023

Independence of decision-makers

36. The Act of 2010 is amended by the insertion of the following section after section 52:

“52A.(1) This section applies to the following functions:

(a) deciding whether to issue a suspension notice;

(b) deciding whether to confirm a suspension notice;

(c) deciding whether to impose a prohibition under section 43.

(2) The Bank shall not rely on any contract of service or contract for services with a person exercising a function to which this section applies in any way that may affect the person’s independence in the exercise of that function.”.