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Updated to 17 April 2024 (Act No. 9 of 2024 and S.I. No. 162 of 2024)

Investor Compensation Act 1998
No. 37 of 1998

Contents

Commencement

SectionCommencement DateCommencement Information
Whole Act 1 August 1998 Investor Compensation Act 1998 (Commencement) Order 1998 (S.I. No. 266 of 1998), art. 2

Amendments and other effects

How AffectedAffecting Provision
Am. to apply pending applics. 21/2004, ss. 1 (2), 35, sch. 5, par. 13
Applied S.I. No. 60 of 2007, regs. 1(2), 31.
Application restricted 42/2000, ss. 1 (4) (a) (5), 22
Liquidator etc. recourse against client money etc. under Act S.I. No. 60 of 2007, regs. 1(2), 157(2)(a)
S. 2 amended S.I. No. 379 of 2014, reg. 4(a), (b)
  S.I. No. 497 of 2003, reg. 11
S. 2(1) references construed S.I. No. 229 of 2018, regs. 1(2), 60(2), (3)
S. 2(1) amended S.I. No. 642 of 2017, regs. 1(2), 2(a)
  24/2010, ss. 1(2), 168 and schedule, pt. 3, item 22
  23/2010. ss. 2, 15(14), sch. 2, pt. 14, para. 15
  37/2007, ss. 2, 22(a)-(m)
  21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 1 (a)-(d)
  12/2003, ss. 1 (2), 35 (1), sch. 1, pt. 26
S. 2(1A) inserted 37/2007, ss. 2, 22(m)
S. 2(5) substituted 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 1 (e)
S. 2(5)(b) amended 37/2007, ss. 2, 22(n)
S. 9 amended 26/2013, ss. 2, 5(2), sch. 3 pt. 3 item 1(b)
S. 9 substituted 40/2012, ss. 2(1), 70(4), sch. 4, pt. 7, item 1
S. 9(1) substituted 26/2013, ss. 2, 5(2), sch. 3 pt. 3 item 1(a)
S. 9(4)(b) substituted 37/2007, ss. 2, 22(o)
S. 9(4)(c)(iii) substituted 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 2
S. 17 bodies prescribed S.I. No. 295 of 2014, reg. 2
S. 17 amended 12/2003, ss. 1 (2), 35 (1), sch. 1, pt. 26
S. 17 bodies and persons prescribed S.I. No. 352 of 1998, regs. 1, 2
S. 18(2) substituted 12/2003, ss. 1 (2), 35 (1), sch. 1, pt. 26
S. 18(3) bodies prescribed under S.I. No. 349 of 2019, reg. 2
  S.I. No. 395 of 2015, reg. 2
  S.I. No. 394 of 2015, reg. 2
  S.I. No. 294 of 2014, reg. 2
  S.I. No. 280 of 1998, reg. 2
S. 18(3) substituted 12/2003, ss. 1 (2), 35 (1), sch. 1, pt. 26
S. 18(4) bodies and individuals prescribed under S.I. No. 570 of 2004, reg. 2
  S.I. No. 147 of 2002, reg. 2
S. 18(4) substituted 12/2003, ss. 1 (2), 35 (1), sch. 1, pt. 26
S. 18(4) individuals prescribed S.I. No. 350 of 1998, regs. 1, 2
S. 18(6) substituted 12/2003, ss. 1 (2), 35 (1), sch. 1, pt. 26
S. 19(3) amended 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 3
S. 20(3) inserted 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 4
S. 20(4) substituted 37/2007, ss. 2, 22(p)
S. 20(4) inserted 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 4
S. 21(3)(b) substituted 37/2007, ss. 2, 22(q)
S. 21(3)(b) amended 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 5
S. 24 amended 37/2007, ss. 2, 22(r)
S. 25(6)(c) substituted 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 6
S. 25(6)(d) amended 37/2007, ss. 2, 22(s)
S. 25(7) substituted 21/2004, ss. 1 (2), 10 (2), sch. 1, pt. 8, par. 1
S. 26 substituted 21/2004, ss. 1 (2), 10 (2), sch. 1, pt. 8, par. 2
S. 27(3)(a) amended 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 7
S. 28 substituted 21/2004, ss. 1 (2), 10 (2), sch. 1, pt. 8, par. 3
S. 28(7) substituted 37/2007, ss. 2, 22(t)
S. 28(8) amended 37/2007, ss. 2, 22(u)
S. 28(9A) inserted 37/2007, ss. 2, 22(v)
S. 28(10) amended 37/2007, ss. 2, 22(w)
S. 29(3) relevant offence under Act 22/2011, ss. 1(2), 3 & sch. 1(8)
S. 29(5) amended 37/2007, ss. 2, 22(x)
S. 29A inserted S.I. No. 642 of 2017, regs. 1(2), 2(b)
S. 30(1) substit. def. "compensatable loss" 37/2007, ss. 2, 22(y)
S. 30(1) def. "net loss" amended 6/2010, ss. 1(2), 120(2)
  37/2007, ss. 2, 22(z)
S. 30(1)(vi) amended 26/2018, ss. 1(2), 41(1)(a)
S. 30(2)(c)(i) amended 37/2007, ss. 2, 23(a)
S. 30(2)(c)(ii) amended 37/2007, ss. 2, 23(a)
S. 30(5) inserted 37/2007, ss. 2, 23(b)
S. 31(2) (3) substituted 21/2004, ss. 1 (2), 10 (2), sch. 1, pt. 8, par. 4
S. 32(1) amended 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 8 (a)
S. 32(1)(b) substituted 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 8 (b)
S. 32(2) amended 37/2007, ss. 2, 23(c)
S. 32(2) substituted 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 8 (c)
S. 32(2A) inserted 37/2007, ss. 2, 23(d)
S. 32(4) amended 37/2007, ss. 2, 23(e)
S. 33(1A) inserted 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 9 (a)
S. 33(2) amended 26/2013, ss. 2, 5(2), sch. 3 pt. 3 item 2
  40/2012, ss. 2(1), 70(4), sch. 4, pt. 7, item 2
S. 33(2) substituted 37/2007, ss. 2, 23(f)
S. 33(3) amended 37/2007, ss. 2, 23(g)
S. 33(3) substituted 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 9 (b)
S. 33(3A) amended 37/2007, ss. 2, 23(h)
S. 33(3A) substituted 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 9 (b)
S. 33(3B) substituted 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 9 (b)
S. 33(4) substituted 26/2013, ss. 2, 80(a)
S. 33(5) inserted 26/2013, ss. 2, 80(a)
S. 33A substituted 37/2007, ss. 2, 23(i)
  21/2004, ss. 1(2), 33, sch. 3, pt. 15, par. 10
S. 33B inserted 26/2013, ss. 2, 80(b)
S. 34(2) amended 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 11 (a)
S. 34(3) amended 37/2007, ss. 2, 23(j)
S. 34(3), subsec. substit. 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 11 (b)
S. 34(4) (5) amended 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 11 (c) (d)
S. 34(6) amended 37/2007, ss. 2, 23(k)
S. 34(8) inserted 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 11 (e)
S. 35(1) amended 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 12 (a) (b)
S. 35(2)(a) amended 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 12 (c) (d) (e)
S. 35(3) substituted 6/2010, ss. 1(2), 120(3)
S. 35(3)(c) amended 26/2018, ss. 1(2), 41(1)(b)
S. 35(4) deleted 37/2007, ss. 2, 23(l)
S. 35(5) amended 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 12 (c) (d) (e)
S. 35(5A) amended 37/2007, ss. 2, 23(m)
S. 35(6) amended 37/2007, ss. 2, 23(n)
S. 35(6A) amended 37/2007, ss. 2, 23(o)
S. 35(7A) inserted 26/2013, ss. 2, 80(c)
S. 35(8) amended 37/2007, ss. 2, 23(p)
S. 35(6) amended 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 12 (g) (h)
S. 35(6A) inserted 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 12 (i)
S. 36 substituted 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 13
S. 36(1) amended 37/2007, ss. 2, 23(q)
S. 38(1) amended 37/2007, ss. 2, 23(r)
S. 38(2) amended 37/2007, ss. 2,. 23(s)
S. 38(3) amended 37/2007, ss. 2, 23(t)
S. 39(1) amended 37/2007, ss. 2, 23(u)
S. 39(2) amended 21/2004, ss. 1 (2), 33, sch. 3, pt. 15, par. 14
S. 40(1) amended, def. "client" 37/2007, ss. 2, 23(v)
S. 40(1) substit. def. "investment firm" 37/2007, ss. 2, 23(w)
S. 40(2) substituted 37/2007, ss. 2, 23(x)
S. 43(3) repealed 26/2013, ss. 2, 4(1), sch. 1 pt. 1 item 11
S. 42(3) amended 37/2007, ss. 2, 23(y)
S. 43(7) relevant offence under Act 22/2011, ss. 1(2), 3 & sch. 1(8)
S. 43(8) relevant offence under Act 22/2011, ss. 1(2), 3 & sch. 1(8)
S. 48 repealed 12/2003, ss. 1 (2), 35 (1), sch. 1, pt. 26
Sch. 2 substituted 21/2004, ss. 1 (2), 10 (2), sch. 1, pt. 8, par. 5

SIs made under the Act

SectionSIs made under the Act
S. 5(3) Investor Compensation Act 1998 (Prescription of Bodies and Persons) (Amendment) Regulations 2023 (S.I. No. 612 of 2023)
  Investor Compensation Act 1998 (Prescription of Bodies and Persons) (Amendment) Regulations 2020 (S.I. No. 255 of 2020)
  Investor Compensation Act 1998 (Representatives of Financial Services Industry) Regulations 2019 (S.I. No. 349 of 2019)
  Investor Compensation Act 1998 (Prescription of Bodies and Persons) Regulations 2015 (S.I. No. 395 of 2015)
  Investor Compensation Act 1998 (Representatives of Financial Services Industry) Regulations 2015 (S.I. No. 394 of 2015)
  Investor Compensation Act 1998 (Section 18(4)) (Prescription of Individuals) (Amendment) Regulations 1999 (S.I. No. 345 of 1999)
S. 17 Investor Compensation Act 1998 (Members of Investor Compensation Company) Regulations 2014 (S.I. No. 295 of 2014)
  Investor Compensation Act 1998 (Appointment of Members of Investor Compensation Company) Regulations 1998 (S.I. No. 352 of 1998)
S. 18(3) Investor Compensation Act 1998 (Representatives of Financial Services Industry) Regulations 2019 (S.I. No. 349 of 2019)
  Investor Compensation Act 1998 (Representatives of Financial Services Industry) Regulations 2015 (S.I. No. 394 of 2015)
  Investor Compensation Act 1998 (Representatives of Financial Services Industry) Regulations 2014 (S.I. No. 294 of 2014)
  Investor Compensation Act 1998 (Prescription of Bodies) Regulations 2002 (S.I. No. 130 of 2002)
  Investor Compensation Act 1998 (Prescription of Bodies) Regulations 1998 (S.I. No. 280 of 1998)
S. 18(4) Investor Compensation Act 1998 (Prescription of Bodies and Persons) (Amendment) Regulations 2023 (S.I. No. 612 of 2023)
  Investor Compensation Act 1998 (Prescription of Bodies and Persons) (Amendment) Regulations 2020 (S.I. No. 255 of 2020)
  Investor Compensation Act 1998 (Prescription of Bodies and Persons) Regulations 2015 (S.I. No. 395 of 2015)
  Investor Compensation Act 1998 (Section 18(4)) (Prescription of Bodies and Individuals) Regulations 2004 (S.I. No. 570 of 2004)
  Investor Compensation Act 1998 (Section 18(4)) (Prescription of Body and Individuals) Regulations 2002 (S.I. No. 147 of 2002)
  Investor Compensation Act 1998 (Section 18(4)) (Prescription of Individuals) (Amendment) Regulations 2001 (S.I. No. 440 of 2001)
  Investor Compensation Act 1998 (Section 18(4)) (Prescription of Individuals) (Amendment) Regulations 1999 (S.I. No. 345 of 1999)
  Investor Compensation Act 1998 (Section 18 (4)) (Prescription of Individuals) Regulations 1998 (S.I. No. 350 of 1998)
S. 33B Investor Compensation Act 1998 (Return of Investor Funds or Other Client Property) Regulations 2015 (S.I. No. 407 of 2015)