Central Bank Reform Act 2010

Application of standards of fitness and probity.

21.— (1) A regulated financial service provider shall not permit a person to perform a controlled function unless—

(a) the regulated financial service provider is satisfied on reasonable grounds that the person complies with any standard of fitness and probity in a code issued under section 50 , and

(b) the person has agreed to abide by any such standard.

(2) The Bank may take into account standards of fitness and probity referred to in subsection (1) when performing its functions and exercising its powers.