Investment Intermediaries Act, 1995


Approved Professional Bodies

Interpretation ( Part VII ).

55.—For the purposes of this Part—

“approved professional body” means a body which—

(a) is representative of a profession of solicitors, accountants or representative of a profession with similar functions and has functions in regard to the regulation of members of the relevant profession, or is capable of having such functions; and

(b) stands approved under section 56 of this Act;

“certified person” means a person who—

(a) being an individual, is a member of or is regulated by an approved professional body, or

(b) not being an individual, is a person managed and controlled by one or more individuals each of whom is regulated by that approved professional body or another professional body and at least one of whom is a member of or is regulated by the approved professional body concerned,

and has been granted and holds a valid certificate under the rules of that professional body deeming that person to be a fit and proper person to carry on investment business services or provide investment advice or both and specifying any conditions, limits or constraints on the type or the extent of such services which the person in receipt of the certificate shall comply with and which the approved professional body deems appropriate in the interests of the proper regulation of certified persons and the protection of investors or, in the case that the Law Society of Ireland is acting as an approved professional body, a solicitor in respect of whom a practising certificate (within the meaning of the Solicitors Acts, 1954 to 1994) is in force;

“in an incidental manner” means in the course of and in conjunction with but subordinate to a professional activity other than the provision of any investment business service;

“rules” includes all of the rules, regulations, codes of practice or ethics or other conditions governing the operations of a professional body and those of its members and persons regulated by it.