Central Bank (Individual Accountability Framework) Act 2023
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Amendment of section 23A of Act of 2010 | ||
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13. Section 23A of the Act of 2010 is amended— | ||
(a) by the substitution of the following subsection for subsection (1): | ||
“(1) A significant supervised entity (within the meaning of the SSM Framework Regulation) which is a regulated financial service provider or holding company shall not— | ||
(a) appoint a person to its management body (within the meaning of the European Union (Capital Requirements) Regulations 2014 ( S.I. No. 158 of 2014 )), or | ||
(b) make any other appointment the approval of which is subject to the exclusive competence of the ECB under Article 4(1)(e) of the SSM Regulation, | ||
unless the entity has been notified in writing by the ECB that it has approved the appointment.”, | ||
(b) in subsection (3)— | ||
(i) by the insertion of “the appointment of” after “approve”, and | ||
(ii) by the deletion of “to the management body”, | ||
and | ||
(c) by the deletion of subsection (7). |