Central Bank Act , 1942

32A.—(1) The Governor shall propose to the Commission a plan of the assignment of responsibility for specified powers and functions of the Bank to himself or herself, a Head of Function or an officer or employee of the Bank.

(2) Where appropriate, the assignment of the responsibility for the performance of a function requires the person to whom the function is assigned—

(a) to provide policy advice in relation to the subject matter of the assignment and related matters,

(b) to achieve any outputs specified in the assignment,

(c) to accept responsibility for the operation of statutory schemes or programmes specified in the assignment,

(d) to accept responsibility for the delivery of quality services pursuant to the assignment,

(e) to ensure that the expenditure in relation to the area of the assignment accords with the purpose for which the expenditure is appropriate and chargeable to the accounts of the Bank and that value for money is obtained, and

(f) to perform, on behalf of the Commission, functions in relation to appointments, performance and discipline of personnel in the area of the assignment.

(3) A Head of Function or an employee to whom the responsibility for the performance of a function has been assigned is accountable for the performance of the function to the Governor and to any other person specified for the purpose in the assignment.]

32B. F171[Bank to prepare strategic plan.

32B.—(1) At least 3 months before the beginning of each period specified in subsection (2), the Bank shall—

(a) prepare for the period a strategic plan that complies with this section, and

(b) submit the plan to the Minister.

(2) The periods referred to in subsection (1) are—

(a) the period of 3 financial years that begins on 1 JanuaryF172[2016], and

(b) each subsequent period of 3 financial years.

(3) A strategic plan shall specify—

(a) the objectives of the Bank’s activities for the relevant period,

(b) the nature and scope of the activities to be undertaken,

(c) the strategies and policies for achieving those objectives,

(d) targets and criteria for assessing the performance of the Bank, and

(e) the uses for which the Bank proposes to apply its resources.

(4) If the Minister has notified the Bank in writing of any requirements with respect to the form in which a strategic plan is to be prepared, such a plan shall comply with those requirements.

(5) As soon as practicable after receiving the Bank’s strategic plan, the Minister shall arrange for the plan to be laid before each House of the Oireachtas.

(6) As soon as practicable after becoming aware that a strategic plan has been laid before both Houses of the Oireachtas, the Bank shall publish the strategic plan and take all reasonably practical steps to implement it.]

32C. Annual estimates in relation to financial regulation functions.

32C.—No later than one month before the end of each financial year, the Bank shall prepare and submit to the Minister an estimate of—

(a) its income from levies and fees imposed by regulations under sections 32D and 32E,

(b) any other source of funds for the purposes of its powers and functions underF173[the designated enactments, designated statutory instruments and the Finance (Provision of Access to Cash Infrastructure) Act 2025 (in so far as that Act is not a designated enactment)], and

(c) its expenditure in relation to the exercise of those powers and functions,

during the next financial year.]

32D. F175[Power to impose levies.

32D.—(1) The Commission may make regulations prescribing levies to be paid by persons who are subject to regulation under the designated enactments and designated statutory instruments.

(2) In particular, regulations under subsection (1) may provide for any of the following matters:

(a) the activities, services or other matters for which specified kinds of levies are payable;

(b) the persons, or classes of persons, who are required to pay specified kinds of levies;

(c) the amounts of specified kinds of levies;

(d) the periods for which, or the dates by which, specified levies are to be paid to the Bank;

(e) penalties payable by a person who does not pay a levy on time;

(f) the keeping of records, and the making of returns to the Bank, by persons who are liable to pay a specified levy;

(g) the collection and recovery of levies.

(3) Regulations made under this section do not take effect until approved by the Minister.

F176[(3A) A levy prescribed in relation to the functions of the resolution authority under the European Union (Bank Recovery and Resolution) Regulations 2015 (S.I. No. 289 of 2015)F177[or the SRM Regulation is to be fixed]so that the total amount of levy collected or recovered does not exceed the total costs incurred by the resolution authority, within the meaning of those Regulations, in performing its functions and exercising its powers under those Regulations.]

(4) A levy prescribed in relation to credit unions is to be fixed so that the total amount of levy collected or recovered from credit unions does not exceed the total costs incurred by the Bank in performing its functions and exercising its powers under theCredit Union Act 1997.

(5) The Bank may, by proceedings in a court of competent jurisdiction, recover as a debt an amount of levy payable under regulations in force under this section.

(6) The Bank may refund the whole or a part of a levy paid or payable under regulations in force under this section.

(7) The Commission may amend or revoke a regulation made under this section.

(8) An amendment or revocation of regulations made under this section does not take effect until approved by the Minister.

(9) In this section "levy" does not include a fee.]

32E. F178[Power to prescribe fees.

32E.—(1) The Commission may make regulations prescribing fees for the purpose of any enactment that provides, by reference to this section or to section 33K (as in force at any time before the coming into operation of this section), for the payment of a fee.

(2) The Commission may make regulations providing for all or any of the following matters:

(a) the persons, or classes of persons, who are required to pay specified kinds of fees;

(b) the amounts of specified kinds of fees;

(c) the collection of fees.

(3) Regulations of the kind referred to in subsection (2) may be included in regulations made under subsection (1).

(4) Regulations made under this section do not take effect until approved by the Minister.

(5) The Bank may, by proceedings in a court of competent jurisdiction, recover as a debt an amount payable as a fee under regulations in force under this section.

(6) The Bank may refund the whole or a part of a fee paid pursuant to regulations made under this section.

(7) The Commission may amend or revoke a regulation made under this section.

(8) An amendment or revocation of regulations made under this section does not take effect until approved by the Minister.]

32F. F179[General fund.

32F.—(1) The Bank shall continue to keep and operate the fund called the general fund.

(2) The Bank shall pay into the general fund all money received by the Bank and shall pay from that fund all amounts that it is required to pay.

(3) The expenses incurred by the Bank in performing functions or exercising powers under this or any other Act or law are payable out of the general fund of the Bank, except where otherwise provided by or under this or any other Act.

(4) Any claims on or liabilities to the European Central Bank are to be treated as assets or liabilities of the general fund or any other fund that the Minister by order establishes for that purpose.]

32G. F180[Surplus or deficiency in income of Bank during financial year

32G.—(1) If the total sum received by the Bank on account of levies and fees prescribed under sections 32D and 32E during a financial year is greater than the Bank’s expenditure on the performance of its functions and the exercise of its powers during that financial year, the Bank—

(a) shall apply the surplus to the performance of those functions and the exercise of those powers in the following financial year, and

(b) shall reduce the levies and fees prescribed in relation to the latter financial year accordingly.

(2) If the sum received by the Bank on account of levies and fees prescribed under sections 32D and 32E during a financial year is less than the Bank’s expenditure on the performance of its functions and the exercise of its powers during that financial year, the Bank may prescribe levies and fees in relation to the following financial year sufficient to—

(a) make good the deficiency, and

(b) ensure that the sum received by the Bank on account of such levies and fees during the following financial year fully covers the performance of its functions and the exercise of its powers during both those financial years.]

32H. F181[Bank’s surplus income.

32H.—(1) The Bank shall pay its surplus income as and when determined under this section into the Exchequer in such manner as the Minister directs and may at any time pending such determination pay into the Exchequer such sums on account of surplus income as may be agreed on by the Minister and the Bank.

(2) The Minister may, after consultation with the Bank, make regulations providing for the periodic determination of the Bank’s surplus income and, in particular, such regulations may—

(a) enable provision to be made for reserves, depreciation and other similar matters before the surplus income is determined, and

(b) provide for any matter arising from the implementation of Chapters VI, VIII and IX of the ESCB Statute.

(3) In exercising the powers conferred by this section, the Minister is required to have regard to the functions imposed and the powers conferred on the Bank by or under the Rome Treaty and the ESCB Statute.]

32I. F182[Provision of funds by Bank to meet shortfall.

32I.—(1) If at any time it appears to the Commission that the funds raised from levies and fees prescribed by regulations in force under sections 32D and 32E are, or are likely to be, insufficient to enable the Bank to properly perform its regulatory functions, the Bank may apply to the performance of those functions such amount as the Commission considers necessary.

(2) The Bank may apply an amount under subsection (1) only if the Minister so approves.

(3) Before deciding whether or not to give approval under subsection (2), the Minister shall consult the Governor. The Governor may express his or her opinion on the amount of funds concerned, so far as it could affect—

(a) the carrying out by the Bank of its obligations with respect to the promotion of the financial stability of the State, and

(b) the performance of the functions of the Bank in its capacity as a member of the European System of Central Banks.

(4) In approving the application of an amount of funds under subsection (2), the Minister shall have regard to the functions and powers of the Bank under the Rome Treaty and the ESCB Statute.]

32J. F183[Accounting and other records of Bank.

32J.—(1) The Bank shall keep all proper accounting records of all its transactions.

(2) The Bank’s accounts shall show separately—

(a) receipts from funds raised from levies and fees prescribed by regulations in force under sections 32D and 32E and expenditure on the performance of its functions and the exercise of its powers,

(b) its income from penalties imposed under paragraphs (c) and (f) of section 33AQ(3), and

(c) other receipts and expenditure.

(3) Within 6 months after the end of each financial year, the Bank shall prepare and transmit to the Comptroller and Auditor General a statement of accounts for the financial year concerned. The statement shall be in a form approved by the Minister after consulting the Bank. The approval of a form of statement of accounts under this subsection remains in force until superseded by the approval of another form of statement of accounts.

(4) The statement shall show separately—

(a) receipts from funds raised from levies and fees prescribed by regulations in force under sections 32D and 32E and expenditure on the performance of its functions and the exercise of its powers, and

(b) other receipts and expenditure.

(5) The Comptroller and Auditor General shall audit, certify and report on the statement of accounts and, as soon as practicable after completing the report, give it and the statement of accounts to the Minister.

(6) As soon as practicable after being given the report and statement of accounts, the Minister shall arrange for copies of those documents to be laid before each House of the Oireachtas.

(7) The accounts of the Bank may be audited in accordance with Article 27 of the ESCB Statute and, for that purpose, the Bank shall provide any auditors appointed in accordance with that Article with full information, books and records.

(8) The Bank shall keep its accounting records for at least 6 years.]

32K. F184[Report of operations, etc., by Bank.

32K.—(1) Within 6 months after the end of each financial year, the Bank shall prepare a report of its operations during the year and present the report to the Minister.

(2) The report shall include a statement of the role of each advisory group established by the Bank under section 18E, and a summary of the work of each such advisory group during the relevant financial year.

(3) As soon as practicable after being given the report and statement of accounts, the Minister shall arrange for copies of those documents to be laid before each House of the Oireachtas, together with any other reports required to be included in or attached to the report.

(4) The Bank shall give to the Minister for publication in theIris Oifigiúilsuch periodical returns concerning the transactions of the Bank as the Minister directs from time to time.]

32L. F189[Annual performance statements.

32L.—(1) No later than 30 April in each year, the Bank shall prepare a statement relating to the Bank’s performance in regulating financial servicesF186and with regard to its functions under the Finance (Provision of Access to Cash Infrastructure) Act 2025.

(2) A performance statement is to be in 3 parts—

(a) details, including the aims and objectives, of regulatory activity planned for the current year (in this subsection called a "Regulatory Performance Plan"),

(b) a review of the Bank’s regulatory performance during the preceding year having regard to the Regulatory Performance Plan for that year and any other relevant matters, and

(c) the report of any international peer review carried out during the preceding year under section 32M.

(3) The review of the Bank’s regulatory performance required by subsection (2)(b) shall include details of the activities carried out during the relevant year by—

(a) the part of the Bank responsible for internal audit,F187[…]

F188[(aa) the Bank in relation to the exercise of its powers under Part 2 of the Central Bank (Supervision and Enforcement) Act 2013, and]

(b) the Registrar of Credit Unions.

(4) A performance statement is to be in the form, and is to relate to the matters, that the Minister directs, but shall not relate to the exercise by the Governor of his or her functions under the ESCB Statute.

(5) Within one month after receiving a performance statement, the Minister will lay it before each House of the Oireachtas.

(6) If the Governor or a Head of Function is requested by a Committee of the Oireachtas to—

(a) attend before the Committee, and

(b) provide that Committee with information relating to the Bank’s performance statement,

the Governor or Head of Function shall—

(i) appear before the Committee, and

(ii) subject to section 33AK(1A), provide the Committee with such information relating to the performance statement as the Committee requires.

(7) The reference in subsection (6) to a Committee of the Oireachtas is a reference to a Committee appointed by either House or by both Houses jointly to examine matters relating to the Bank and includes a subcommittee of such a Committee, but does not include the Committee on Members’Interests of DáilÉireann or the Committee on Members’Interests of SeanadÉireann.]

32M. F190[International peer review of regulatory performance.

32M.—At least every 4 years the Bank shall make appropriate arrangements for—

(a) another national central bank, or

(b) another person or body certified by the Governor, after consultation with the Minister, as appropriate,

to carry out a review of the Bank’s performance of its regulatory functions.]

33A. Interpretation: Part IIIB and Schedule 3.

33A.—F192[…]]

33B. F193[Establishment of Regulatory Authority.

33B.—F194[…]]

33C. F195[Functions and powers of Regulatory Authority.

33C.—F196[…]]

33D. F197[Regulatory Authority to comply with certain guidelines.

33D.—F198[…]]

33E. F199[Membership of Regulatory Authority.

33E.—F200[…]]

33F. F201[Appointment of Chief Executive of the Regulatory Authority.

33F.—F202[…]]

33G. F203[Appointment of acting Chief Executive in certain cases.

33G.—F204[…]]

33H. F205[Responsibilities of Chief Executive of the Regulatory Authority.

33H.—F206[…]]

33I. F207[Chairperson of the Regulatory Authority.

33I.—F208[…]]

33J. F209[Power to impose levies.

33J.—F210[…]]

33K. F211[Power of Chief Executive to prescribe fees.

33K.—F212[…]]

33L. F213[Provision of funds by Bank to Regulatory Authority to meet shortfall.

33L.—F214[…]]

33M. F215[Regulatory Authority to keep proper accounts.

33M.—F216[…]]

33N. F217[Regulatory Authority to prepare annual estimate of income and expenditure.

33N.—F218[…]]

33O. F219[Regulatory Authority to provide Minister with annual report and other reports.

33O.—F220[…]]

33P. F221[Regulatory Authority to prepare strategic plan.

33P.—F222[…]]

33Q. Appointment of Consumer Director.

33Q.—F224[…]]

33R. F225[Appointment of acting Consumer Director in certain cases.

33R.—F226[…]]

33S. F227[Responsibilities of Consumer Director.

33S.—F228[…]]

33SA. F229[Supplementary powers of Consumer Director with respect to carrying out the responsibilities imposed under section 33S.

33SA.—F230[…]]

33T. F231[Consumer Director to prepare annual report.

33T.—F232[…]]

33U. F233[Consumer Director to provide information, reports and advice to Chief Executive.

33U.—F234[…]]

33V. F235[Consumer Director to prepare strategic plan.

33V.—F236[…]]

33W. Interpretation: Chapter 3.

33W.—In this chapter, "Registrar" means the Registrar of Credit Unions.]

33X. F238[Appointment of Registrar of Credit Unions.

33X.—(1) TheF239[Bank shall]appoint a person as the Registrar of Credit Unions.

(2) A person appointed as Registrar holds office for a period not exceeding 5 years from the date of appointment, unless the person previously ceases to hold that office as provided by this section.

(3) TheF239[Bank]may appoint a person holding office as Registrar for a further period, not exceeding 5 years, to take effect at the end of the person’s current period of appointment. This subsection applies whether the person was appointed under subsection (1) or this subsection.

(4) The appointment of a person as Registrar does not take effect until the Minister approves it.

(5) A person is not eligible for appointment as Registrar if the person—

(a) is a member of either House of the Oireachtas or is, with the person’s consent, nominated as a candidate for election as such a member or is nominated as a member of SeanadÉireann, or

(b) is a member of the European Parliament or is, with the person’s consent, nominated as a candidate for election as such a member or to fill a vacancy in the membership of that Parliament, or

(c) is a member of a local authority or is, with the person’s consent, nominated as a candidate for election as such a member.

(6) A person appointed as Registrar holds office on such conditions of employment as are specified in the person’s document of appointment or are later agreed between the person and theF239[Bank].

(7) The Registrar may engage in other remunerative employment only with the consent of theF239[Bank].

(8) A person ceases to hold office as Registrar if the person—

(a) dies, or

(b) completes a term of office and is not re-appointed, or

(c) resigns the office by notice in writing addressed toF239[Bank], or

(d) is, with the person’s consent, nominated as a candidate for election as a member of either House of the Oireachtas or is nominated as a member of SeanadÉireann, or

(e) is, with the person’s consent, nominated as a candidate for election as a member of the European Parliament or to fill a vacancy in the membership of that Parliament, or

(f) is, with the person’s consent, nominated as a candidate for election as a member of a local authority, or

(g) is adjudged bankrupt (either in the State or elsewhere) or enters into a composition with the person’s creditors, or

(h) becomes physically or mentally incapable of performing the duties of Registrar, or

(i) is convicted of an offence (either in the State or elsewhere) and sentenced to serve a term of imprisonment for the offence, or

(j) is removed from office under subsection (9).

(9) TheF239[Bank]may (but only after consulting the Minister) remove or suspend the Registrar from office, but only for reasons notified in writing to the Registrar.]

33Y. F240[Appointment of acting Registrar of Credit Unions in certain cases.

33Y.—(1)F241[The Governor, with the consent of the Commission,]may, from time to time, appoint a qualified person to act in the office of Registrar—

(a) during the illness or absence of the holder of that office, or

(b) while the holder is suspended from office, or

(c) during a vacancy in that office.

A person so appointed has, while acting as Registrar, all the responsibilities and powers of that office.

(2) If a person is to be appointed under this section for a period of more than 6 months, the appointment does not take effect until the Minister approves it.

(3) TheF242[Bank]may, at any time, remove from office a person who is appointed under this section as Registrar.

(4) A person appointed under this section is entitled to be paid such remuneration (including travelling and subsistence allowances) as theF243[Bank]determines from time to time.

(5) A person is a qualified person for the purposes of this section if the person is an employee of the Bank.]

33Z. F244[Signature of Registrar of Credit Unions.

33Z.—A signature purporting to be that of the Registrar is, in the absence of evidence to the contrary, to be presumed for all purposes to be that of the holder of that office.]

33AA. F245[ Responsibilities and powers of Registrar of Credit Unions.

33AA.—(1) The Registrar is responsible—

(a) as the delegate of theF246[Bank], for managing the performance and exercise of the functions and powers of the Bank underthe Credit Union Act 1997, and

(b) if management of the performance and exercise of the functions and powers of the Bank under any other Act or law are delegated to the Registrar, for managing the performance and exercise of those functions and powers.

(2) The Registrar has power to do whatever is necessary for or in connection with, or reasonably incidental to, carrying out the Registrar’s responsibilities.

(3) In carrying out or exercising the Registrar’s responsibilities or powers, the Registrar shall, as far as reasonably practicable, ensure that the resources of theF246[Bank]allocated for carrying out those responsibilities or exercising powers are used effectively, efficiently and economically.

F247[(4) In carrying out the responsibilities and exercising the powers imposed or conferred by this section, the Registrar, through the Head of Financial Regulation, is subject to the control of the Bank and shall comply with any directions by the Commission with respect to the carrying out of those responsibilities or the exercise of those powers.

(5) A direction given in accordance with subsection (4) shall not be inconsistent with—

(a) in relation to a function or power to which subsection (1)(a) relates, theCredit Union Act 1997, and

(b) in relation to a function or power the management of which stands delegated to the Registrar under subsection (1)(b), any other relevant Act or law.

(6) In issuing directions to the Registrar under subsection (4) which relate to the exercise of the responsibilities and powers referred to in subsection (1)(a), the Bank shall have regard to the particular nature of credit unions, and in particular by reference to—

(a) the conditions for the registration of a credit union set out insection 6of theCredit Union Act 1997and to the objects and common bonds referred to in that section, and

(b) the voluntary ethos of credit unions.

(7) The Bank may, from time to time, issue to the Registrar guidelines, not inconsistent with any law, in relation to consultation and co-operation with the bodies and persons specified in subsection (8) on matters concerning the functions and powers of those bodies and persons. The Registrar shall comply with any such guidelines.

(8) The bodies and persons referred to in subsection (7) are the following:

(a) the Bank;

(b) the Commission;

(c) the Governor;

(d) the officers and employees of the Bank.

(9) The Registrar shall provide the Head of Financial Regulation with such information and assistance as the Head of Financial Regulation requests in relation to any complaint to the Bank about the conduct of a credit union.]]

33AB. F248[Bank to provide Registrar with adequate funds.

33AB.—(1) The Bank shall provide the Registrar with such funds as the Bank considers necessary to enable the Registrar to perform the functions and exercise the powers of the Registrar.

(2) The provision of funds under this section is subject to such conditions as the Bank thinks fit to impose.]

33AC. F249[Registrar to prepare annual report.

33AC.—(1) The Registrar shall,F250[within 9 months after the end of each financial year]—

(a) prepare an annual report specifying the activities of the Registrar during that year, and

(b) submit the report to theF251[Bank].

F252[(2) The Head of Financial Regulation may direct the Registrar as to the form of the report and the matters that the report shall deal with. The Registrar shall comply with any such direction.]]

33AD. F253[Registrar to provide information, reports and advice to Head of Financial Regulation.

33AD.—The Registrar shall provide the Head of Financial Regulation with such information relating to the performance and exercise of the Registrar’s responsibilities and powers as the Head of Financial Regulation requires from time to time. That information may include (but is not limited to) information relating to—

(a) the use by the Registrar of the resources of the Bank that have been allocated for the performance and exercise of those responsibilities and powers, and

(b) the value of outcomes and outputs derived from the use of those resources.]

33AE. F254[Registrar to prepare work plan.

33AE.—(1) The Registrar shall, at least 3 months before the beginning of each financial year—

(a) prepare for the year a draft work plan that complies with this section, and

(b) submit the draft plan to the Bank for approval.

(2) A draft work plan shall specify—

(a) the objectives of the Registrar for the financial year concerned,

(b) the nature and scope of the activities to be undertaken,

(c) the strategies and policies for achieving those objectives and how the resources allocated to the Registrar are proposed to be used, and

(d) targets and criteria for assessing the performance of the Registrar.

(3) If the Head of Financial Regulation has notified the Registrar of any requirements with respect to the form in which a draft work plan is to be prepared, the Registrar shall take such steps as are necessary to ensure that the plan complies with those requirements.

(4) The Bank may approve a work plan either with or without amendment.

(5) On being approved under subsection (4), a draft work plan prepared for a financial year becomes the work plan for the Registrar for that year. The Registrar shall take all reasonably practical steps to implement the plan.]

33AF. F255[Registrar to keep proper accounts.

33AF.—(1) The Registrar shall keep accounting records that properly record and explain the Registrar’s transactions.

(2) The Registrar shall, as soon as practicable after the end of each financial year, provide the Bank with sufficient information about the financial affairs of the Registrar as will enable the Bank to comply with section 6H(2) for that year.

(3) The Registrar shall ensure that the accounting records kept under this section comply with any accounting standards notified to the Registrar in writing by theF256[Head of Financial Regulation].

(4) The Registrar is required to retain the accounting records for at least 6 years after the transactions to which they relate are completed.

(5) The Registrar is required to make the accounting records available at all reasonable times for inspection by any member of theF257[Commission].]

F258[PART IIIB. Provisions Applicable to the Bank and its Constituent Parts] Annotations Amendments: F258 Inserted (1.05.2003) by Central Bank and Financial Services Authority of Ireland Act 2003 (12/2003), s. 26, S.I. No. 160 of 2003, subject to transitional provisions in s. 36 and sch. 3.

33AG. F258[Superannuation schemes for the benefit of officers and employees of Bank and its constituent parts.

33AG.—(1) This section applies to and in respect of the following persons:

(a) the Governor and former Governors;

F260[(b) former Directors;

(ba) appointed members and former appointed members of the Commission;

(bb)ex-officiomembers of the Commission and formerex-officiomembers of the Commission;

(c) former members of the Regulatory Authority;

(ca) officers and former officers of the Bank;]

(d) employees and former employees of the Bank.

(2) The Bank may establish and operate one or more superannuation schemes under which superannuation benefits are payable on the retirement or death of persons to whom this section applies. However, such a scheme does not take effect until it has been approved by the Minister.

(3) A superannuation scheme established under this section is to be embodied in rules made by the Bank. Those rules must provide for the operation of the scheme and, in particular, for—

(a) the making of contributions (including contributions by the Bank) towards the superannuation benefits to be paid under the scheme, and

(b) the payment of those benefits to or in respect of persons to whom this section applies.

(4) As soon as practicable after establishing a superannuation scheme or superannuation schemes under this section, the Bank shall establish a trust fund for holding contributions made to the scheme or to each of those schemes and for the payment of superannuation benefits under the scheme or schemes. However, if the Bank establishes two or more such superannuation schemes, a single trust fund may be established in respect of all or a group of those schemes.

(5) As soon as practicable after establishing a trust fund under this section, the Bank shall appoint two or more trustees to hold and operate the trust fund.

(6) The trustees of the trust fund relating to a superannuation scheme established under this section shall, from that fund, pay to or in respect of persons to whom thissection applies on their retirement or death the appropriate superannuation benefits under the scheme.

(7) The Bank shall arrange for all rules made under this section to be laid before each House of the Oireachtas as soon as practicable after they are made. If either House, within the 21 days on which it has sat after the rules are laid before it, passes a resolution annulling the rules, the rules are accordingly annulled, but without affecting the validity of anything previously done under them.

(8) In this section—

"retirement", in relation to a person referred to inF261[paragraph (a), (b), (ba) or (c) of subsection (1),]includes not being re-appointed after the end of the person’s term of office;

"superannuation benefit" means a superannuation benefit payable to or in respect of a person to whom this section applies or, where such a person has died, to the spouseF262[or civil partner within the meaning of the Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010]or a child of that person, and includes a pension, a retirement allowance and a gratuity.]

33AH. F263[Special provisions for superannuation schemes established under Currency Act 1927 and Central Bank Act 1989.

33AH.—(1) Despite the repeal ofthe Currency Act 1927and section 15 of the Central Bank Act 1989, the following schemes continue to have effect:

(a) any scheme operating under section 31(4) ofthe Currency Act 1927, immediately before the commencement of this section;

(b) any scheme operating under section 15 of the Central Bank Act 1989, immediately before that commencement.

(2) A scheme continued by this section is taken to be rules for the purposes ofthe Interpretation Act 1937.

(3) The Bank may, with the approval of the Minister, merge with a superannuation scheme established under section 33AG a scheme continued by this section. However, the Minister may give that approval only if satisfied that the persons who have accrued rights under the scheme continued by this section will have benefits under the merged scheme that are no less favourable than those under the scheme so continued.

(4) The Bank may take such action as is necessary to effect a merger under subsection (3).]

33AI. F264[Provisions applicable to superannuation schemes established under section 33AG or continued under section 33AH.

33AI.—(1) If the Revenue Commissioners so determine, a superannuation scheme established under section 33AG or continued under section 33AH is an exempt approved scheme for the purposes of Chapter 1 of Part 30 ofthe Taxes Consolidation Act 1997.

(2) The Minister may determine a trust fund established for the purposes of a superannuation scheme established under section 33AG or continued under section 33AH to be public funds for the purposes of the Superannuation Act 1892.

(3)Section 30 of the Pensions (Increase) Act 1964, applies to a superannuation scheme established under section 33AG or continued under section 33AH.

(4) A superannuation benefit is not payable under a superannuation scheme established under section 33AG or continued under section 33AH if the benefit relates to the same period of service as that in respect of which a superannuation benefit has been paid under another such scheme.

(5) For the purposes of this section, "superannuation benefit" has the same meaning as in section 33AG.]

33AJ. F265[Bank and associates not liable for certain acts and omissions.

33AJ.—(1) This section applies to the following persons:

(a) the Bank;

F266[(b) the Governor;

(ba) the Heads of Function;

(bb) the Secretary General of the Department of Finance, in his or her capacity as anex-officiomember of the Commission;

(bc) the appointed members of the Commission;]

(c) the Registrar of Credit Unions;

(d) the Registrar of the Appeals Tribunal;

(e) employees of the Bank;

(f) agents of the BankF267[…].

(2) A person to whom this section applies is not liable for damages for anything done or omitted in the performance or purported performance or exercise of any of its functions or powers, unless it is proved that the act or omission was in bad faith.

(3) The fact that the Bank has authorised or revoked the authorisation, or regulates the activities, of a person, under any of its functions is not a warranty by the Bank as to the person’s solvency or performance.

(4) The fact that the Bank in performing any of its functions—

(a) has approved or revoked the approval, or regulates the affairs or activities, of a stock exchange or a financial futures and options exchange, or

(b) has approved, amended, revoked or imposed rules, or has consented or refused to consent to amendments of rules,

is not a warranty by the Bank as to the solvency or performance of the exchange or any member of the exchange.

(5) Neither the State nor the Bank is liable for losses incurred because of the insolvency, default or performance of a person or body referred to in subsection (3) or (4).

(6) Nothing in subsections (3) to (5) limits the effect of subsection (2).

F268[(7) In this section, "agent" includes a person appointed or authorised by the Bank, the Governor or theF269[Head of Financial Regulation]to perform any function or exercise a power under the Central Bank Acts or any other enactment.]]

33AK. F270[Disclosure of information.

F271[33AK.—(1) This subsection applies to the following persons:

(a) the Governor and every former Governor;

(b) every former Director of the Central Bank and Financial Services Authority of Ireland;

(c) every former member of the Irish Financial Services Regulatory Authority;

(d) every member and every former member of the Commission;

(e) every Head of Function and every former Head of Function;

(f) the Registrar of Credit Unions and every former Registrar of Credit Unions;

(g) every other officer or employee and every other former officer or employee of the Bank;

(h) every person who is or was formerly employed as a consultant, auditor or in any other capacity by the BankF272[or is or was an agent engaged by the Bank];

(i) every person to whom this subsection (as in force immediately before the amendment of this section by the Central Bank Reform Act 2010) applied immediately before that coming into operation.

(1A) A person to whom subsection (1) applies shall not disclose confidential information concerning—

(a) the business of any person or body whether corporate orF273[unincorporate]that has come to the person’s knowledge through the person’s office or employment with the Bank, or

(b) any matter arising in connection with the performance of the functions of the Bank or the exercise of its powers,

F273[if the Rome Treaty, the ESCB Statute or any of the supervisory EU legal acts prohibits the disclosure or requires it to be prohibited].]

(2)(a) If requested by the Bank, the directors or those charged with the direction of a supervised entity shall, in accordance with paragraph (b), inform the Bank on the extent of any disclosure duly made by or on behalf of them or the entity to any authority, whether within the State or otherwise.

(b) Where a request is made under paragraph (a), the directors or those charged with the direction of a supervised entity shall giveto the Bank all the information so requested that is in their possession or under their control, within—

(i) 30 days of receipt of the request, or

(ii) such longer period as the Bank may allow when making the request or subsequently.

(c) In responding to a request for information under this subsection, the directors or those charged with the direction of the supervised entity concerned shall exercise due diligence and shall not, by any act or omission, give or cause to be given to the Bank false or misleading information.

(3)(a) Subject toF275[subsection (1A)]and paragraph (b), the Bank shall report, as appropriate, to—

(i) the Garda Síochána, or

(ii) the Revenue Commissioners, or

(iii) the Director of Corporate Enforcement, or

(iv) the Competition Authority, or

F276[(iva)F277[…]]

(v) any other body, whether within the State or otherwise, charged with the detection or investigation of a criminal offence, or

(vi) any other body charged with the detection or investigation of a contravention of—

(I) the Companies Acts 1963 to 2001, or

(II)the Competition Act 2002, or in so far as any commencement order under that Actdoes not relate to the repeal of provisions of the Competition Acts 1991 and 1996, which would otherwise be subsisting those Acts,

F278[or

(III) the Irish Collective Asset-management Vehicles Act 2015,]

any information relevant to that body that leads the Bank to suspect that—

(A) a criminal offence may have been committed by a supervised entity, or

(B) a supervised entity may have contravened a provision of an Act to which subparagraph (vi) relates.

F275[(b) Paragraph (a) does not apply—

(i) where the Bank is satisfied that the supervised entity has already reported the information concerned to the relevant body, or

(ii) where the information concerned has come into the possession of, or to the knowledge of the Bank, from an authority, in a jurisdiction other than that of the State, duly authorised to exercise functions similar to any one or more of the statutory functions of the Bank.]

(c) Information contained in a report under paragraph (a) may only be used by the body to which it is addressed for the purposes of—

(i) the detection or investigation of a contravention of a provision of an Act to which paragraph (a)(vi) relates, or

(ii) any investigation which may lead to a prosecution for a criminal offence and any prosecution for the alleged offence.

F279[(3A) Where a provision of any of theF274[supervisory EU legal acts], or of any of the following Regulations of the European Parliament and of the Council, requires or permits the Bank to report information to a supervisory body established by that Regulation, the Bank may do so:

(a) Regulation (EU) No. 1092/2010 of 24 November 2010^2;

(b) Regulation (EU) No. 1093/2010 of 24 November 2010^2;

(c) Regulation (EU) No. 1094/2010 of 24 November 2010^4;

(d) Regulation (EU) No. 1095/2010 of 24 November 2010^5.]

(4) (a) In relation to a supervised entity, where the Bank identifies information—

(i) which it believes is or is likely to be material to an authority concerned with the enforcement of any law, and

(ii) which it believes it is unable, due to the provisions ofF275[subsection (1A)]F280[or (5B)], to disclose to that authority, and

(iii) in respect of which it is not satisfied that the information has been disclosed to that authority by the directors, or those charged with the direction, of the supervised entity,

then, the Bank shall issue to the directors or others duly charged with the direction of the supervised entity a document, to be known as a Disclosure Issue Notice, and the notice shall—

(I) specify the name of the authority concerned, and

(II) identify the information that the Bank has identified as causing it to issue the Disclosure Issue Notice.

(b) The Bank shall advise the authority concerned when a Disclosure Issue Notice is issued.

(c) Where a Disclosure Issue Notice is issued in respect of a company to whichsection 158 of the Companies Act 1963applies (which relates to the directors’report), the directors’report shall comply with subsection (6B) of that section.

(5) Subject toF275[subsection (1A)], the Bank may disclose confidential information—

(a) required for the purposes of criminal proceedings, or

(b) with the consent of the person to whom the information relates and, if the information was obtained fromanother person, that other person, or

(c) where the Bank is or was the agent of a person—made to the person as the person’s agent, or

(d) to an authority in a jurisdiction other than that of the State duly authorised to exercise functions similar to any one or more of the statutory functions of the Bank and which has obligations in respect of nondisclosure of information similar to the obligations imposed on the Bank under this section, or

(e) to any institution of the European Community because of the State’s membership of the Community, or to the European Central Bank for the purpose of complying with the Rome Treaty or the ESCB Statute, or

(f) to an approved stock exchange, within the meaning ofthe Stock Exchange Act 1995—

(i) in respect of member firms of the exchange for the purpose of monitoring compliance by member firms with stock exchange rules or with conditions or requirements imposed by the Bank, or with both, or

(ii) where the Bank considers it necessary to do so, either for the proper and orderly regulation of stock exchanges and their member firms or for the protection of investors, or for both, or

(g) to a financial futures and options exchange, within the meaning of section 97 of the Central Bank Act 1989, whose rules havebeen approved by the Bank under Chapter VIII of the Central Bank Act 1989—

(i) for the purpose of monitoring compliance by the members of that exchange with those rules or with conditions or requirements imposed by the Bank, or with both, or

(ii) where the Bank considers it necessary to do so for the proper and orderly regulation of futures and options exchanges and their members, or

(h) to—

(i) an inspector appointed under the Companies Acts 1963 to 2001, orsection 57 of the Stock Exchange Act 1995, or

(ii) a Committee appointed undersection 65 of the Stock Exchange Act 1995, or

(i) to a body that is a competent authority for the purpose of Council Directive 93/22/EEC of 10 May 1993 or Council Directive 93/6/EEC of 15 March 1993, or

(j) to an approved professional body—

(i) for the purpose of monitoring compliance by investment business firms with rules or with conditions or requirements imposed by the Bank, or

(ii) where the Bank considers it necessary to do so for the proper and orderly regulation of investment business firms, or

(k) to—

(i) a Committee appointed undersection 74 of the Investment Intermediaries Act 1995, or

(ii) a person nominated or approved of by a supervisory authority in accordance with section 51(2) of that Act, or

(iii) an inspector appointed by the Court under Part VIII of that Act, or

(l) to a product producer in respect of investment business services or investment advice provided by a restricted activity investment product intermediary who holds an appointment in writing from the producer undersection 27 of the Investment Intermediaries Act 1995, or

(m) to an officer of statistics (as defined bysection 20 of the Statistics Act 1993) in connection with the collection, compilation, analysis or interpretation of data relating to balance of payments, national accounts or any other financial statistics prepared for those purposes, or

(n)F281[…]

(o) to the Comptroller and Auditor General that is required for the performance of that officer’s functions or to a person employed in the Office of the Comptroller and Auditor General, or

(p) to an auditor to whomF282[subsections (3) and (4) of section 32I apply], or

(q) to the Minister for the Environment and Local Government in connection with that Minister’s functionsunder the national housing programme with respect to a mortgage lender, or

(r) to the Investor Compensation Company Limited, or to a subsidiary of that company established by the Bank in order to provide administrative services to that company, or

(s) for the purposes of the hearing of an appeal by the Appeals Tribunal, or

(t) for the purpose of complying with a requirement imposed under section 33AM or by or under any other law, or

(u) where the Bank is in receipt of information from an authority in a jurisdiction other than the State duly authorised to exercise functions similar to one or more of the statutory functions of the Bank, made with the permission of that authority, or

(v) to a liquidator, examiner, receiver or any other person or body involved in the liquidation or bankruptcy of a supervised entity in relation to that entity, in accordance with theF274[supervisory EU legal acts], where applicable, or

(w) to the auditor of a supervised entity in relation to that entity, in accordance with theF274[supervisory EU legal acts], where applicable, or

(x) to any body established under law for the purposes of overseeing auditors, in accordance with the terms of theF274[supervisory EU legal acts], where applicable, or

(y) to the Director of Corporate Enforcement for the purpose of any investigation under Part II (as amended) ofthe Companies Act 1990, or to an officer of the Director for the purposesof the Director’s functions and in accordance with the terms of theF274[supervisory EU legal acts], where applicable, or

F283[(z) to—

(i) the Minister, in accordance with the provisions of theF274[supervisory EU legal acts]in relation to the Minister’s responsibility for policy on the supervision of supervised entities,

(ii) authorities in other Member States with responsibilities corresponding to that of the Minister referred to in subparagraph (i), or

(iii) where the Bank is the chair of a college of supervisors established under Regulation 11A of the European Communities (Credit Institutions) (Consolidated Supervision) Regulations 2009 (S.I. No. 475 of 2009), to the Committee of European Banking Supervisors,

(za) to an inspector appointed by the Minister and acting on the Minister’s behalf,

or]

(aa) in accordance with Article 25(7) of Council Directive 93/22/EEC of 10 May 1993 on investment services in the securities field, to a body which has the function of providing clearing or settlement services for one of the State’s markets where necessary for the performance of its functions, or

(ab) in accordance with the terms of Council Directive 92/49/EEC of 18 June 1992 in respect of insurance undertakings, to bodies which administer compulsory winding up proceedings or guarantee funds, where necessary for the performance of their functions, or

(ac) in accordance with the terms of Council Directive 92/96/EEC of 10 November 1992 in respect of assurance undertakings, to bodies which administer compulsory winding up proceedings or guarantee funds, where necessary for the performance of their functions, or

(ad) to the Pensions Board that is required for the performance of its functions, or

(ae) in summary or collective form, such that individual persons or bodies cannotbe identified, in legal proceedings where a supervised entity has been declared bankrupt or is being compulsorily wound up, but only if the information disclosed does not concern the business of any person or body which, to the knowledge of the Bank, may be, or has been involved in attempts to rescue that supervised entity at any stage, or

(af) if the Bank is satisfied that the disclosure is necessary to protect consumers of relevant financial services or to safeguard the interests of the Bank, or

(ag) if the disclosure arises in relation to—

(i) the operations of the Bank in any financial market, or

(ii) the issue by the Bank or the European Central Bank of legal tender, or

(iii) the pursuit by the Bank of the objectives set out in section 6A ofthe Central Bank Act 1942, or

(ah) to a Tribunal of Inquiry established under the Tribunals of Inquiry (Evidence) Acts 1921 to 2002, or

F284[(aha) to any Commission of Investigation established under theCommissions of Investigation Act 2004, or]

F285[(ahb) to a Joint Committee of the Houses of the Oireachtas that is conducting an inquiry, being an inquiry—

(i) that is a Part 2 inquiry (within the meaning of theHouses of the Oireachtas (Inquiries, Privileges and Procedures) Act 2013), and

(ii) in respect of which a terms of reference resolution under section 13 of that Act was passed by DáilÉireann and SeanadÉireann on the 25th day and 26th day, respectively, of November, 2014,

provided the disclosure to that Committee occurs after the making of the rules and standing orders referred to in subsection (6A),]

(ai) to the Revenue Commissioners in relation to their functions in a manner such that no supervised entity can be identified, or

(aj) to the Registrar of Friendly Societies that is required for the performance of the Registrar’sF286[functions, or]

F287[(aja) to the Credit Union Restructuring Board that is required for the performance of that Board’s functions,]

F288[(ak) to theF289[Financial Services and Pensions Ombudsman]that is required for the performance of that Ombudsman’sF290[functions, or]]

F291[F292[(al)to the Competition and Consumer Protection Commission, if the confidential information is required for the performance of the Commission’s functions, or]]

F293[(am) to a deposit guarantee scheme established in accordance with Directive 94/19/EC of the European Parliament and of the Council of 30 May 1994^2, or

(an) to a body or authority that is a competent authority for the purposes of a Regulation of the European Union or European Communities, or a law of the State implementing such a Regulation, that imposes restrictive measures within the framework of the EU Common Foreign and Security Policy, or

(ao) for any purpose connected with the functions of the Bank, the Minister, the Governor or the Head of Financial Regulation or a special manager under the Credit Institutions (Stabilisation) ActF294[2010, or]]

F295[(ap) for any purpose connected with the functions of the Bank, the Minister, the Governor or the Head of Financial Regulation or a special manager under theCentral Bank and Credit Institutions (Resolution) Act 2011, or

(aq) to authorities or bodies charged with responsibility for maintaining the stability of the financial system in Member States through the use of macroprudential rules, or

(ar) to reorganisation bodies or authorities aiming at protecting the stability of the financial system, or

F296[F297[(as) for the purposes of contractual or institutional protection schemes as referred to in Article 113(7) of the Capital Requirements Regulation, or]

(at)for any purpose connected with the functions of the Bank under Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012^7, or

(au)to the Information Commissioner that is required for the performance of that Commissioner’s functions under theFreedom of Information Act 2014, or

F298[(av)to the ECB or a national competent authority in accordance with the SSM Regulation or the SSM Framework Regulation, or

F299[(aw)for any purpose connected to the functions of the Bank as a competent authority or resolution authority under Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014^4, or]]]]

F300[(ax)to independent actuaries of insurance undertakings and reinsurance undertakings (within the meaning of the European Union (Insurance and Reinsurance) Regulations 2015) carrying out legal supervision of those entities and the bodies responsible for overseeing suchF301[actuaries, or]]

F302[(ay)in accordance with the SRM Regulation, to—

(i) the SRB,

(ii) national resolution authorities in other Member States,

(iii) the Commission,

(iv) the Council,

(v) the ECB, or

(vi) competent authorities inF301[other Member States, or]]

F303[(az)to the Workplace Relations Commission in accordance with Part 3 of the European Communities (Market Abuse) Regulations 2016F304[(S.I. No. 349 of 2016), or]]

F305[(ba) to the Data Protection Commission that is required for the performance of that Commission’s functions under the Data Protection Regulation or the Data Protection ActsF306[1988 to 2018, or]]

F307[(bb) to financial intelligence units (within the meaning of Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015^20on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC, as amended by Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018^21amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC andF308[2013/36/EU), or]]

F309[(bc) to the Private Security Authority that is required for the performance of its functions under the Private Security Services Acts 2004 to 2021 in so far as those functions relate to the regulation of cash-in-transit providers (within the meaning of theFinance (Provision of Access to Cash Infrastructure) Act 2025).]

F280[(5A) Subsection (5) shall not apply to confidential information received by the Bank in the performance of its functions as a competent authority designated as such for the purposes of the Payment Services Directive.

(5B) A person to whom subsection (1) applies shall not disclose confidential information concerning—

(a) the business of any person or body whether corporate orF310[unincorporate]that has come to the person’s knowledge through the person’s office or employment with the Bank, or

(b) any matter arising in connection with the performance of the functions of the Bank or the exercise of its powers,

if such disclosure is required to be prohibited by the Payment Services Directive.

(5C) Subject to subsection (5B), the Bank may disclose confidential information received by it in the performance of its functions as a competent authority (so designated for the purposes of the Payment Services Directive)—

(a) to a public authority or body designated by another Member State as the competent authority for the purposes of the Payment Services Directive,

(b) to the European Central Bank and the central banks of other Member States, in their capacity as monetary and oversight authorities, and, where appropriate, other public authorities responsible for overseeing payment and settlement systems,

(c) to the European Banking Authority, in its capacity of contributing to the consistent and coherent functioning of supervising mechanisms (as referred to in point (a) of Article 1(5) of Regulation (EU) No 1093/2010 of 24 November 2010^28),

(d) to the relevant authorities of other Member States designated under laws giving effect to the Payment Services Directive, Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015^29and other Acts of the European Union applicable to payment service providers (including Acts applicable to the protection of individuals with regard to the processing of personal data and to money laundering and terrorist financing),

(e) to authorities entrusted with the public duty of supervising other financial sector entities and the authorities responsible for the supervision of financial markets,

(f) to authorities or bodies charged with responsibility for maintaining the stability of the financial system in Member States through the use of macroprudential rules,

(g) to reorganisation bodies or authorities aiming at protecting the stability of the financial system,

(h) to bodies involved in the liquidation and bankruptcy of institutions and in other similar procedures,

(i) to the persons responsible for carrying out statutory audits of the accounts of institutions, insurance undertakings and financial institutions,

(j) to the ESCB central banks and other bodies with a similar function in their capacity as monetary authorities when the information is relevant for the exercise of their respective statutory tasks,

F297[(k) to contractual or institutional protection schemes as referred to in Article 113(7) of the Capital Requirements Regulation]

(l) where appropriate, to other public authorities responsible for overseeing payment systems,

(m) to the European Systemic Risk Board, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority, where that information is relevant for the exercise of their functions under Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010^31, Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010^32or Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010^33, as the case may be,

(n) to a clearing house or other similar body recognised under Irish law for the provision of clearing or settlement services where that information is necessary in order to ensure the proper functioning of those bodies in relation to defaults or potential defaults by market participants,

(o) to a liquidator, examiner, receiver or any other person or body involved in the liquidation or bankruptcy of a supervised entity in relation to that entity,

(p) to the Minister for Housing, Planning and Local Government in connection with that Ministers functions under the national housing programme with respect to a mortgage lender,

(q) to—

(i) the Minister, in accordance with the provisions of the Payment Services Directive in relation to the Minister’s responsibility for policy on the supervision of supervised entities,

(ii) authorities in other Member States with responsibilities corresponding to that of the Minister referred to in subparagraph (i), or

(iii) where the Bank is the chair of a college of supervisors established under Regulation 104 of the European Union (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014), to the Committee of European Banking Supervisors,

(r) to an inspector appointed by the Minister and acting on the Minister’s behalf,

(s) where the information is required for the purposes of criminal proceedings, or

(t) with the consent of the person to whom the information relates and, if the information was obtained from another person, that other person.

(5D) Where confidential information has been received from an authority designated as a competent authority for the purposes of the Payment Services Directive in another Member State, the Bank shall only disclose such confidential information pursuant to subsection (5C)(h), (i) or (k) in accordance with the express consent of that authority.

(5E) In subsections (5A), (5B), (5C) and (5D),“Payment Services Directive”means Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015^34.

(5F) Subsections (5A), (5B), (5C) and (5D) shall apply to confidential information received in connection with the operation of the European Communities (Electronic Money) Regulations 2011, subject to the modification that a reference to the Payment Services Directive shall be construed as a reference to Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009^35.]

F311[(6) Any person or entity to whom confidential information is provided by the Bank under subsection (3)(a) or (5) shall hold and deal with that confidential information in a manner consistent with the provisions on professional secrecy in the supervisory EU legal acts and in the ESCB Statute.]

F285[(6A) Any member of either House of the Oireachtas to whom confidential information is provided under subsection (5) and who fails to comply withF312[…]subsection (6) in respect of that information may be subject to the sanction of the House of which the person is a member in accordance with rules and standing orders made by that House.]

F280[(6B) Any person or entity to whom confidential information is provided under subsection (5C) shall, when holding and dealing with that information, ensure its confidentiality.]

(7) The Bank may, for the purposes of subsection (5)(d) or otherwise, require from a supervised entity any information for the purposes of the Bank assisting an authority to which that subsection relates, but the Bank may only require such information where the information requested is, in the opinion of the Bank, to assist the authority in the carrying out of its regulatory functions.

(8) A person who—

(a) contravenesF275[subsection (1A)]F280[or (5B)], or

(b) contravenes paragraph (a) or (c) of subsection (2), or

(c) fails to comply with section 158(6B) ofthe Companies Act 1963, for the purpose of a Disclosure Issue Notice issued under subsection (4),

commits an offence and is liable—

(i) on conviction on indictment to a fine not exceeding€30,000 or to imprisonment for a term not exceeding 5 years, or both, or

(ii) on summary conviction to a fine not exceeding€3,000 or to imprisonment for a term not exceeding 12 months, or both.

(9) Notwithstanding anything to the contrary provided for by or under any enactment, where in the opinion of the Revenue Commissioners, or such officer or officers of the Commissioners as they may from time to time designate for this purpose, there is information which may relate to—

(a) the commission of an offence, or

(b) a failure to comply with an obligation,

under the designated enactments or the designated statutory instruments,then the Commissioners or that officer shall disclose the information to the Bank.

(10) In this section—

"approved professional body" has the meaning given bysection 55 of the Investment Intermediaries Act 1995;

F305["Data Protection Regulation" means Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016^12on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation);]

"product producer" has the meaning given bysection 2 of the Investment Intermediaries Act 1995;

"restricted activity investment product intermediary" has the meaning assigned to it bysection 26 of the Investment Intermediaries Act 1995;

F313["F274[supervisory EU legal acts]" means—

(a) Directive 2000/12/EC of the European Parliament and of the Council of 20 March 2000,

(b) Council Directive 93/22/EEC of 10 May 1993,

(c) Council Directive 85/611/EEC of 20 December 1985,

(d) Council Directive 92/49/EEC of 18 June 1992,

(e) Council Directive 92/96/EEC of 10 November 1992,

F314[(f) Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC,

(g) Directive 2014/57/EU of the European Parliament and of the Council of 16 April 2014 on criminal sanctions for market abuse (market abuse directive) and Commission Implementing Directive (EU) 2015/2392 of 17 December 2015 on Regulation (EU) No 596/2014 of the European Parliament and of the Council as regards reporting to competent authorities of actual or potential infringements of that Regulation,]

(h) the 2003 Prospectus Directive (within the meaning of Part 5 of theInvestment Funds, Companies and Miscellaneous Provisions Act 2005),

(i) Directive 2005/68/EC of 16 November 2005,

(j) the Transparency (Regulated Markets) Directive (within the meaning of Part 3 of theInvestment Funds, Companies and Miscellaneous Provisions Act 2006),

(k) Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions,

(l) Directive 2006/49/EC of the European Parliament and of the Council of 14 June 2006 on the capital adequacy of investment firms and credit institutions,

(m) Directive 2002/92/EC of the European Parliament and of the Council of 9 December 2002 on insurance mediation,

F315[(n) Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments,

(o) the Supplemental Directive and the MiFID Regulation as defined in section 3(1) of the Markets in Financial Instruments and Miscellaneous Provisions Act 2007F316[(No. 37 of 2007),]]]

F317[(p)F318[…]

F319[(q)F318[…]

F320[(r) Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013^22on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC as amended by—

(i) Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014^23on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010,

(ii) Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014^24establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council,

(iii) Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015^25on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC,

(iv) Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018^26amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU, and

(v) Directive (EU) 2019/878 of the European Parliament and of the Council of 20 May 2019^2amending Directive 2013/36/EU as regards exempted entities, financial holding companies, mixed financial holding companies, remuneration, supervisory measures and powers and capital conservation measures;]

F321[(s) Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012^8on OTC derivatives, central counterparties and trade repositories,

F322[(t) the SSM Regulation,

F323[(u) the SSM Framework Regulation,]]]]]

F324[(v) Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of insurance and reinsurance (Solvency II);]

F325[(x) Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU andF326[Regulation (EU) No 236/2012,]]

F327[(y) Directive 2014/92/EU of the European Parliament and of the Council of 23 July 20141 on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basicF326[features, and]]

F328[(w)the SRM Regulation.]

F329[(z) Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014, and

(aa) Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU.]

F330[(ab) Regulation (EU) No 2015/2365 of the European Parliament and of the Council of 25 November 2015^5;]

F331[(ac) Regulation (EU) No. 2016/1011 of the European Parliament and of the Council of 8 June 2016^8;]

F332[(ad) Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016^10on insurance distribution.]

F333[(ae) Regulation (EU) 2017/1131 of the European Parliament and of the Council of 14 June 2017^3;]

F334[(af) Regulation (EU) 2017/2402 of the European Parliament and of the Council ofF335[12 December 2017,]^24

F336[(ag) Regulation (EU) 2017/1129 of the European Parliament and of the Council ofF337[14 June 2017,]^1

F338[(ah) Regulation (EU) 2017/2394 of the European Parliament and of the Council ofF339[12 December 2017^4,]]

F340[(ai) Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019^4;]

F341[F342[(aj)]Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015^5on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No. 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC, as amended by Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018^6;]

F343[(ak) Regulation (EU) 2019/2033 of the European Parliament and Council of 27 NovemberF344[2019]^4,]

F345[(al) Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 OctoberF346[2020^4,]]

F347[(am) Regulation (EU) 2021/23 of the European Parliament and of the Council of 16 December 2020^7;]

F348[(an) Directive (EU) 2021/2167 of the European Parliament and of the Council of 24 November 2021^8;]

F349[(ao) Regulation (EU) No. 2023/1114 of the European Parliament and of the Council of 31 May 2023^11;]

F350[(ap) Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December 2022^5;]

F351[(aq) Regulation (EU) 2023/2631 of the European Parliament and of the Council of 22 November 2023^5;]

"supervised entity" means any person or body in relation to which the Bank exercises functions under the designated enactments or the designated statutory instruments.]

33AL. F353[Bank to inform persons of obligations under section 33AK.

33AL.—(1) Subject to subsection (2), the Commission shall inform a person who is about to be appointed—

(a) as Governor,

(b) as an appointed member of the Commission,

(c) as a Head of Function,

(d) as Registrar of Credit Unions,

(e) as an officer or employee of the Bank, or

(f) as a consultant or auditor or in any other capacity by the Bank,

of the obligation imposed by section 33AK.

(2) In the case of a person appointed as the Secretary General of the Department of Finance, the Commission shall inform him or her of the obligation imposed by section 33AK as soon as practicable after he or she is so appointed.

(3) A person shall not accept office as Governor or as an appointed member of the Commission, as a Head of Function, or as an officer or employee of the Bank, unless he or she has acknowledged, in a form determined by the Commission, that he or she has been informed of the obligations imposed by section 33AK.]

33AM. F354[Certain persons required to attend proceedings of Oireachtas committees.

33AM.—(1) This section applies to the following persons:

F355[(a) the Governor;

(b) the Head of Central Banking;

(c) the Head of Financial Regulation;]

(e) the Registrar of Credit Unions.

(2) A person to whom this section applies shall—

(a) if requested to do so, attend before the Joint Committee of the Oireachtas that is responsible for examining matters relating to the Bank, and

(b) provide that Committee with such information as it requires.

(3) Subsection (2) has effect subject to—

(a) the Rome Treaty and the ESCB Statute, and

(b) any restrictions that are imposed on a person to whom this section applies by or under the Central Bank Acts, or any other enactment, in relation to appearing before the Joint Committee referred to in subsection (2)(a).]

F356[PART IIIC Enforcement of Designated Enactments and Designated Statutory Instruments Chapter 1 Interpretation]

33AN. F356[ Interpretation (Part IIIC).

33AN.—F358[(1)]In this Part—

F359["authorised officer" means, subject to subsection (1A), a person appointed undersection 24of theCentral Bank (Supervision and Enforcement) Act 2013;]

F360["Benchmarks Regulation" means Regulation (EU) No. 2016/1011 of the European Parliament and of the Council of 8 June 2016^9on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014;]

F358[“CSD Regulation”means Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012;]

"contravene" includes fail to comply, and also includes—

(a) attempting to contravene, and

F361[(b) aiding, abetting, counselling or procuring a person to commit a contravention, and]

(c) inducing, or attempting to induce, a person (whether by threats or promises or otherwise) to commit a contravention, and

(d) being (directly or indirectly) knowingly concerned in, or a party to, a contravention, and

(e) conspiring with others to commit a contravention;

F359["controlled function" has the meaning given bysection 18(1)of theCentral Bank Reform Act 2010;]

F362[…]

F363["designated enactment" does not include Part 4 or 5 of theInvestment Funds, Companies and Miscellaneous Provisions Act 2005, Part 3 of theInvestment Funds, Companies and Miscellaneous Provisions Act 2006F364[, Title II of Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012^16,]F365[the SFT Regulation but (in relation to the SFT Regulation) wherever and only in so far as it imposes a requirement on a person who is not a regulated financial service provider,]F360[the Benchmarks Regulation but (in relation to the Benchmarks Regulation) wherever and only in so far as it imposes a requirement on a person who is not a regulated financial service provider,]F366[F367[Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014, Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017]or Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 but (in relation to the last-mentioned Regulation) wherever and only in so far as it imposes a requirement on a person who is not a regulated financial service providerF368[, or the Securitisation Regulation but (in relation to the Securitisation Regulation) wherever and only in so far as it imposes a requirement on a person who is not a regulated financial service provider,]F369[or Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 but (in relation to the last-mentioned Regulation) wherever and only in so far as it imposes a requirement on a person who is not a regulated financial service provider]F370[, or the European Green Bond Regulation but (in relation to the European Green Bond Regulation) wherever and only in so far as it imposes a requirement on a person who is not a regulated financial service provider];]and]

F363["designated statutory instrument" does not include theF364[European Union (Market Abuse) Regulations 2016 (S.I. No. 349 of 2016)],F371[the European Union (Prospectus) Regulations 2019 (S.I. No. 380 of 2019)], regulations for the time being in force undersection 20of theInvestment Funds, Companies and Miscellaneous Provisions Act 2006,F365[European Union (Securities Financing Transactions) Regulations 2017 (S.I. No. 631 of 2017) but (in relation to the European Union (Securities Financing Transactions) Regulations 2017) wherever and only in so far as they impose a requirement on a person who is not a regulated financial service provider;]F360[the European Union (Indices used as Benchmarks in Financial Instruments and Financial Contracts or to Measure the Performance of Investment Funds) Regulations 2017 (S.I. No. 644 of 2017) but (in relation to the European Union (Indices used as Benchmarks in Financial Instruments and Financial Contracts or to Measure the Performance of Investment Funds) Regulations 2017) wherever and only in so far as they impose a requirement on a person who is not a regulated financial service provider,]F366[the European Union (European Markets Infrastructure) Regulations 2014 (S.I. No. 443 of 2014) or the European Union (Markets in Financial Instruments) Regulations 2017 but (in relation to the last-mentioned Regulation) wherever and only in so far as they impose a requirement on a person who is not a regulated financial service providerF368[, or the European Union (General Framework for Securitisation and Specific Framework for Simple Transparent and Standardised Securitisation) Regulations 2018 (S.I. No. 656 of 2018) but (in relation to the European Union (General Framework for Securitisation and Specific Framework for Simple Transparent and Standardised Securitisation) Regulations 2018) wherever and only in so far as they impose a requirement on a person who is not a regulated financial service provider,]F372[or the European Union (Anti-Money Laundering: Central Mechanism for Information on Safe-Deposit Boxes and Bank and Payment Accounts) Regulations 2022 (S.I. No. 46 of 2022)];]]F369[or the European Union (Markets in Crypto-Assets) Regulations 2024 (S.I. No. 607 of 2024) but (in relation to the last-mentioned Regulations) wherever and only in so far as they impose a requirement on a person who is not a regulated financial service provider]F373[, or the European Union (European Green Bonds Standards and Disclosures) Regulations 2025 (S.I. No. 41 of 2025) but (in relation to the last-mentioned Regulations) wherever and only in so far as they impose a requirement on a person who is not a regulated financial service provider];

F362[…]

F374["European Green Bond Regulation" means Regulation (EU) 2023/2631 of the European Parliament and of the Council of 22 November 2023^6;]

F375["inquiry" means an inquiry held under section 33AO or section 33AR, and includes such an inquiry begun by the former Regulatory Authority and continued by the Bank;]

"notify" means notify in writing.

"prescribed contravention"F376[means, other than in respect of the CSD RegulationF377[or as otherwise provided by this section], a contravention of]—

(a) a provision of a designated enactment or designated statutory instrument, or

(b) a code made, or a direction given, under such a provision, or

(c) any condition or requirement imposed under a provision of a designated enactment, designated statutory instrument, code or direction, or

(d) any obligation imposed on any person by this Part or imposed by the Regulatory Authority pursuant to a power exercised under this Part;]

F378["prescribed contravention" means, in respect of the European Union (Cooperation between National Authorities Responsible for the Enforcement of Consumer Protection Laws) (No. 2) Regulations 2020 (S.I. No. 21 of 2020), a contravention of Regulation 4(2) of those Regulations;]

F359["relevant controlled function" in relation to participation in the commission by a regulated financial service provider of a prescribed contravention, means a controlled function in relation to the regulated financial service provider;]

F368[“Securitisation Regulation”means Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017^25;]

F365[“SFT Regulation”means Regulation (EU) No 2015/2365 of the European Parliament and of the Council of 25 November 2015^6;]