Central Bank and Financial Services Authority of Ireland Act 2003

(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 this section 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 in subsection (1)(a), (b) or (c), 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 spouse or a child of that person, and includes a pension, a retirement allowance and a gratuity.

Special provisions for superannuation schemes established under Currency Act 1927 and Central Bank Act 1989.

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

(a) any scheme operating under section 31(4) of the 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 of the 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).

Provisions applicable to superannuation schemes established under section 33AG or continued under section 33AII.

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 of the 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.

Bank and associates not liable for certain acts and omissions.

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

(a) the Bank;

(b) the members of the Board and of the Regulatory Authority;

(c) the Registrar of Credit Unions;

(d) the Registrar of the Appeals Tribunal;

(e) employees of the Bank;

(f) agents of the Bank or of any of its constituent parts.

(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).

(7) In this section, ‘agent’ includes a person appointed or authorised by the Bank, the Governor or the Chief Executive to perform any function or exercise a power under the Central Bank Acts or any other Act.

Disclosure of information.

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

(i) the Governor and every former Governor;

(ii) every Director and every former Director;

(iii) every member, member's deputy appointed under paragraph 4 of Schedule 3, former member's and former member's deputy who had been so appointed, of the Regulatory Authority;

(iv) the Chief Executive and every former Chief Executive;

(v) the Consumer Director and every former Consumer Director;

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

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

(viii) every person who is or was formerly employed as a consultant, auditor or in any other capacity by the Bank or any constituent part of the Bank.

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

(i) the business of any person or body whether corporate or incorporate that has come to the person's knowledge through the person's office or employment with the Bank, or

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

if such disclosure is prohibited by the Rome Treaty, the ESCB Statute or the Supervisory Directives.

(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 give to 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 to subsection (1)(b) 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

(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 Act does not relate to the repeal of provisions of the Competition Acts 1991 and 1996, which would otherwise be subsisting those Acts,

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.

(b) Paragraph (a) does not apply where the Bank is satisfied that the supervised entity has already reported the information concerned to the relevant body.

(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.

(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 of subsection (1)(b), 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 which section 158 of the Companies Act 1963 applies (which relates to the directors' report), the directors' report shall comply with subsection (6B) of that section.

(5) Subject to subsection (1)(b), 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 from another 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 of the 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 have been 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, or section 57 of the Stock Exchange Act 1995, or

(ii) a Committee appointed under section 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 under section 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 under section 27 of the Investment Intermediaries Act 1995, or

(m) to an officer of statistics (as defined by section 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) for the purpose of complying with section 57(2) or 57A(3) of the Criminal Justice Act 1994, or

(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 whom section 6H applies, or

(q) to the Minister for the Environment and Local Government in connection with that Minister's functions under 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 the Supervisory Directives, where applicable, or

(w) to the auditor of a supervised entity in relation to that entity, in accordance with the Supervisory Directives, where applicable, or

(x) to any body established under law for the purposes of overseeing auditors, in accordance with the terms of the Supervisory Directives, where applicable, or

(y) to the Director of Corporate Enforcement for the purpose of any investigation under Part II (as amended) of the Companies Act 1990, or to an officer of the Director for the purposes of the Director's functions and in accordance with the terms of the Supervisory Directives, where applicable, or

(z) to the Minister in accordance with the terms of the Supervisory Directives in relation to the Minister's responsibility for legislation on the supervision of supervised entities or 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 cannot be 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 of the Central Bank Act 1942, or

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

(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's functions.

(6) Any person or entity to whom confidential information is provided under subsection (3)(a) or (5) shall comply with the provisions on professional secrecy in the Supervisory Directives in holding and dealing with information provided to them by the Bank.

(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) contravenes subsection (1)(b), or

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

(c) fails to comply with section 158(6B) of the 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 by section 55 of the Investment Intermediaries Act 1995;

‘product producer’ has the meaning given by section 2 of the Investment Intermediaries Act 1995;

‘restricted activity investment product intermediary’ has the meaning assigned to it by section 26 of the Investment Intermediaries Act 1995;

‘Supervisory Directives’ 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;

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

Bank to inform persons of their obligations under section 33AK.

33AL.—(1) The Board shall inform every person who is about to be appointed—

(a) as Governor or as a Director, or

(b) as a member, or a member's deputy appointed under paragraph 4 of Schedule 3, of the Regulatory Authority, or

(c) as Chief Executive or Consumer Director, or

(d) as Registrar of Credit Unions, or

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

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

of the obligation imposed by section 33AK.

(2) A person can accept office as Governor or as Director, or as an officer or employee of the Bank, only if the person has acknowledged, in a form determined by the Board, that the person has been informed of the obligation imposed by section 33AK.

Certain persons required to attend proceedings of Oireachtas committees.

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

(a) the Governor of the Bank;

(b) the Chairperson of the Regulatory Authority;

(c) the Chief Executive Officer of that Authority;

(d) the Consumer Director of that Authority;

(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).”.

27. Amendment of section 35 of the Principal Act (restrictions on amount of consolidated bank notes outstanding).

27.—Section 35 of the Principal Act is amended—

(a) by substituting “Schedule 4” for “the Third Schedule to this Act”, wherever occurring, and

(b) by substituting “Schedule 4” for “the said Third Schedule”, wherever occurring.

28. Insertion into the Principal Act of new Part VIIA.

28.—The Principal Act is amended by inserting the following Part after Part VII:

“PART VIIA

Irish Financial Services Appeals Tribunal

Chapter 1

Preliminary

Interpretation: Part VIIA and Schedule 5.

57A.—(1) In this Part and Schedule 5—

‘affected person’ means a person whose interests are directly or indirectly affected by an appealable decision;

‘appeal’ means an appeal under this Part;

‘appealable decision’ means a decision of the Regulatory Authority made under a designated enactment or designated statutory instrument that has the effect of imposing a sanction or liability of a kind specified in an order made under subsection (2);

‘appellant’ means a person who has lodged an appeal;

‘Chairperson’ means the Chairperson of the Appeals Tribunal;

‘Deputy Chairperson’ means the Deputy Chairperson of the Appeals Tribunal;

‘lay member’ means a member of the Appeals Tribunal other than the Chairperson and Deputy Chairperson;

‘member’ means a member of the Appeals Tribunal;

‘party’, in relation to proceedings before the Appeals Tribunal, means either the appellant or the Regulatory Authority as respondent;

‘Registrar’ means the Registrar of the Appeals Tribunal;

‘the rules’ means rules of the Appeals Tribunal made and in force under section 57AI.

(2) The Government may, by order notified in Iris Oifigiúil, specify a sanction or other liability for the purposes of the definition of ‘appealable decision’ in subsection (1).

(3) An order under subsection (2) may be made only if—

(a) a draft of the order has been laid before both Houses of the Oireachtas, and

(b) the draft has been approved by resolution passed by each of those Houses.

(4) For the purposes of this Part, a decision made by a member of the Regulatory Authority or by any person acting under the authority of that Authority is taken to be a decision of that Authority.

Objects of this Part.

57B.—The objects of this Part are as follows:

(a) to establish the Irish Financial Services Appeals Tribunal as an independent tribunal—

(i) to hear and determine appeals under this Part, and

(ii) to exercise such other jurisdiction as is conferred on it by this Part or by any other enactment or law;

(b) to ensure that the Appeals Tribunal is accessible, its proceedings are efficient and effective and its decisions are fair;

(c) to enable proceedings before the Appeals Tribunal to be determined in an informal and expeditious manner.

Chapter 2

Constitution and jurisdiction of Appeals Tribunal

Establishment of the Appeals Tribunal.

57C.—A tribunal called ‘Binse Achomhairc Seirbhísí Airgeadais na hÉireann’ or in the English language the ‘Irish Financial Services Appeals Tribunal’ is established by this section.

Membership of the Appeals Tribunal.

57D.—(1) The Appeals Tribunal consists of the following members:

(a) a Chairperson;

(b) a Deputy Chairperson;

(c) no fewer than 1 and no more than 5 lay members.

(2) The members are to be appointed by the President on the nomination of the Government.

(3) The document appointing a member is to specify whether the member has been appointed as the Chairperson or Deputy Chairperson or as a lay member.

(4) A member may be appointed on a fulltime basis or a part-time basis.

(5) Schedule 5 has effect with respect to the members.

Eligibility for appointment as a member.

57E.—(1) A person is eligible to be appointed as the Chairperson or Deputy Chairperson only if the person is—

(a) a former judge of the Supreme Court or the High Court, or

(b) a barrister or solicitor of not less than 7 years standing.

(2) A person is eligible to be appointed as a lay member only if the President is satisfied that the person has special knowledge or skill in relation to the provision of financial services.

(3) A person is not eligible for appointment as a member 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 Seanad Éireann, 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.

Appointment of acting members.

57F.—(1) The President may, on the advice of the Government, appoint as an acting Chairperson or acting Deputy Chairperson a person qualified for appointment as Chairperson or Deputy Chairperson if satisfied that the appointment is necessary to enable the Appeals Tribunal to exercise its functions effectively during the period of the appointment.

(2) The President may, on the advice of the Government, appoint as an acting lay member a person qualified for appointment as a lay member if satisfied that the appointment is necessary to enable the Appeals Tribunal to exercise its functions effectively during the period of the appointment.

(3) The appointment of a person under this section is for such period (not exceeding 12 months) as is specified in the document of appointment.

(4) An acting Chairperson, Deputy Chairperson or acting lay member has the functions of the Chairperson or Deputy Chairperson or lay member (as the case requires) subject to any conditions or limitations specified in the document of appointment.

Jurisdiction and powers of the Appeals Tribunal.

57G.—(1) The Appeals Tribunal has jurisdiction to hear and determine—

(a) appeals made by affected persons against appealable decisions of the Regulatory Authority, and

(b) such other matters, or class of matters, as may be prescribed by any other Act or law.

(2) Subject to this Part, the Appeals Tribunal has power to do whatever is necessary for or in connection with, or reasonably incidental to, the exercise of its jurisdiction.

Constitution of the Appeals Tribunal for particular proceedings.

57H.—(1) For the purpose of hearing a particular appeal, the Appeals Tribunal is constituted by 3 members or, if that Tribunal has more than 3 members, by 3 members designated by the Chairperson.

(2) Of the 3 members, one must be either the Chairperson or Deputy Chairperson.

(3) If the members constituting the Appeals Tribunal for a particular hearing include the Chairperson, the Chairperson is to preside at the hearing. Otherwise, the Deputy Chairperson is to preside.

(4) If there are sufficient members, the Appeals Tribunal may be separately constituted so as to enable it to hear different appeals at the same time.

Functions of Chairperson.

57I.—(1) The Chairperson is responsible for directing the business of the Appeals Tribunal, subject to this Part and the rules.

(2) In particular, the Chairperson is responsible for deciding the places and times of hearings of appeals.

Registrar and staff of the Appeals Tribunal.

57J.—(1) The Chairperson shall appoint a Registrar of the Appeals Tribunal and such other staff as may be necessary for the functioning of that Tribunal.

(2) Staff of the Appeals Tribunal (other than the Registrar) may be appointed from among the employees of the Bank, but only with the agreement of the Board.

(3) The Registrar and other staff of the Appeals Tribunal are to be employed on such terms (including terms as to remuneration and superannuation) as are agreed between the Chairperson and the Board from time to time.

Responsibilities of Registrar of the Appeals Tribunal.

57K.—(1) The Registrar has the following responsibilities:

(a) to assist the Chairperson in administering the Appeals Tribunal;

(b) such other responsibilities as are imposed on the Registrar by or under this Part or by any other enactment or law.

(2) The rules may make further provision with respect to the responsibilities of the Registrar.

Chapter 3

Hearing and determination of appeals

Right of appeal to Appeals Tribunal against appealable decision.

57L.—(1) An affected person may appeal to the Appeals Tribunal in accordance with this section against an appealable decision of the Regulatory Authority.

(2) An appeal must—

(a) be in writing and state the grounds of appeal, and

(b) be lodged with the Registrar within 28 days after the Regulatory Authority notified the affected person of the decision concerned, or within such extended period as the Registrar may allow, after consulting the Chairperson, and

(c) be accompanied by the fee (if any) prescribed by the rules.

(3) As soon as practicable after an appeal is lodged with the Registrar, the Registrar is required to give a copy of the appeal to the Regulatory Authority.

(4) The Regulatory Authority is the respondent to every appeal.

Appeals Tribunal may decide persons whose interests affected by a decision.

57M.—(1) If it is necessary for the purposes of this Act to decide whether the interests of a person are affected, or are likely to be affected, by a decision of the Regulatory Authority, that matter is to be decided by the Appeals Tribunal.

(2) If the Appeals Tribunal decides that the interests of a person are affected, or likely to be affected, by a decision of the Regulatory Authority, the decision of that Tribunal is conclusive and cannot be the subject of an appeal to the High Court.

(3) However, if the Appeals Tribunal decides that the interests of a person are not affected, or are not likely to be affected, by a decision of the Regulatory Authority, the person may appeal to the High Court against the decision of that Tribunal.

Duty of Regulatory Authority to give reasons on request.

57N.—(1) If the Regulatory Authority has made an appealable decision, an affected person may make a written request to that Authority for a statement setting out the reasons for the decision.

(2) As soon as practicable, but in any case not later than 28 days, after receiving such a request, the Regulatory Authority shall prepare a written statement of reasons for the decision and give it to the person who made the request.

(3) The statement of reasons must specify—

(a) the findings on material questions of fact, referring to the evidence or other material on which those findings were based, and

(b) the Regulatory Authority's understanding of the applicable law, and

(c) the reasoning processes that led that Authority to the conclusions that it came to.

Regulatory Authority may refuse reasons in certain cases.

57O.—(1) The Regulatory Authority may refuse to prepare and provide a statement of reasons requested by a person under section 57N if—

(a) it is of the opinion that the person is not entitled to be given the statement, or

(b) in the case of a decision the terms of which were recorded in writing and set out in a document that was provided to the person — the request was not made within 28 days after the person was provided with the document, or

(c) in any other case — the request was not made within a reasonable time after the decision was made.

(2) If the Regulatory Authority refuses under subsection (1) to prepare and give a statement of reasons, it shall, in writing, notify the person making the request of the refusal and of the reasons for the refusal as soon as practicable (and in any case not later than 28 days) after the date on which the request was made.

(3) The Regulatory Authority may not refuse to prepare and provide a statement of reasons if—

(a) in the case of a refusal based on subsection (1)(a) — the Appeals Tribunal makes an order declaring, on an application made under section 57P(1), that the person who made the request was entitled to make the request, or

(b) in the case of a refusal based on subsection (1)(c) — the Appeals Tribunal makes an order declaring, on an application made under section 57Q(2), that the person who made the request did so within a reasonable time.

(4) If the Regulatory Authority may not refuse to comply with a request for a statement of reasons because of an order of the Appeals Tribunal referred to in subsection (3)(a) or (b), it shall prepare the written statement of reasons that was originally requested and give it to the person who requested it as soon as practicable (and in any case not later than 28 days) after being notified of the order.

Appeals Tribunal may determine whether person entitled to reasons or made request within reasonable time.

57P.—(1) The Appeals Tribunal may, on the application of a person who has been refused a statement of reasons under section 57O(1)(a), make an order declaring that the person was, or was not, entitled to make the request to which the notice relates.

(2) The Appeals Tribunal may, on the application of a person who has been refused a statement of reasons under section 57O(1)(c) on the basis that the person did not make the request within a reasonable time, make an order declaring that the person did make the request within a reasonable time.

Appeals Tribunal may order Regulatory Authority to provide a statement of reasons or an adequate statement of reasons.

57Q.—(1) If an affected person has requested a statement of reasons under section 57N but has not received it within the period specified by or under that section, the Appeals Tribunal may, on the application of the person, order the Regulatory Authority to give the statement of reasons within such time as may be specified in the order.

(2) If an affected person who requested a statement of reasons under section 57N is given an inadequate statement of reasons, the Appeals Tribunal may, on the application of the person, order the Regulatory Authority to give the person an adequate statement of reasons within such period as may be specified in the order.

(3) For the purposes of this section, a statement of reasons is an adequate statement of reasons only if it sets out the matters referred to in section 57N(3).

Operation and implementation of appealed decision pending determination of appeal.

57R.—(1) Subject to this section, the lodgement of an appeal with the Appeals Tribunal against a decision of the Regulatory Authority does not affect the operation of the decision or prevent the taking of action to implement that decision.

(2) On the application of the appellant, the Appeals Tribunal may make such orders staying or otherwise affecting the operation of the decision appealed against as it considers will secure the effectiveness of the determination of the application.

(3) The Appeals Tribunal may make an order under this section only if it considers that it is desirable to do so after taking into account—

(a) the interests of any persons who may be affected by the determination of the application, and

(b) any submission made by or on behalf of the Regulatory Authority, and

(c) the public interest.

(4) While an order is in force under this section (including an order that has previously been varied on one or more occasions under this subsection), the Appeals Tribunal may, on application by a party to the proceedings, vary or revoke the order by another order.

(5) The Appeals Tribunal may not—

(a) make an order under this section unless the Regulatory Authority has been given a reasonable opportunity to make submissions in relation to the matter, or

(b) make an order varying or revoking an order in force under this section (including an order as varied) unless each interested person has been given a reasonable opportunity to make submissions in relation to the matter.

(6) The following are interested persons for the purposes of subsection (5)(b):

(a) the Regulatory Authority;

(b) the person who requested the making of the order;

(c) if the order has previously been varied by an order or orders under this section — the person or persons who requested the making of the variation.

(7) A party to the relevant proceedings may appeal to the High Court against an order made under this section or against a refusal to make such an order.

Conditions of stay order.

57S.—(1) An order in force under section 57R (including an order that has previously been varied on one or more occasions) is subject to such conditions as are specified in the order.

(2) Any such order has effect—

(a) if a period for the operation of the order is specified in the order — until the end of that period or, if the Appeals Tribunal decides the relevant appeal before the end of that period, until the decision of that Tribunal on the appeal takes effect, or

(b) if no period is so specified — until the decision of that Tribunal on the appeal takes effect.

Opportunity of parties to make submissions.

57T.—The Appeals Tribunal shall ensure that each party to proceedings before that Tribunal is given a reasonable opportunity—

(a) to present the party's case (whether at a hearing or otherwise), and

(b) to make submissions in relation to the issues arising in the proceedings.

Representation of parties.

57U.—(1) A party to proceedings before the Appeals Tribunal may—

(a) appear without representation, or

(b) be represented by an agent, or

(c) if the party is an incapacitated person — be represented by such other person as may be appointed by that Tribunal under subsection (2).

(2) If it appears to the Appeals Tribunal that a party is an incapacitated person, it may appoint a suitable person to represent the party.

(3) Any person appearing before the Appeals Tribunal may use the services of an interpreter unless the person can understand and speak the English language sufficiently to enable the person to understand, and to make an adequate reply to, questions that may be put to the person.

(4) In this section—

‘incapacitated person’ means—

(a) a minor, or

(b) a person who is totally or partially incapable of representing himself or herself in proceedings before the Appeals Tribunal because the person is intellectually, physically, psychologically or sensorily disabled, of advanced age, a mentally incapacitated person or otherwise disabled, or

(c) any other person of a class prescribed by regulations made under section 57AZ for the purposes of this paragraph;

‘interpreter’ includes a person who interprets signs or other things made or done by a person who cannot speak adequately for the purposes of giving evidence in proceedings.

Procedure of the Appeals Tribunal.

57V.—(1) The Appeals Tribunal may, subject to this Part and the rules, determine its own procedure.

(2) The Appeals Tribunal is not bound by the rules of evidence and may inquire into and inform itself on any matter in such manner as it thinks fit, subject to the rules of natural justice.

(3) When hearing an appeal, the Appeals Tribunal is not limited to—

(a) considering the evidence or grounds on which the Regulatory Authority based the decision that is the subject of the appeal, or

(b) applying any sanction that was imposed as a part of that decision.

(4) The Appeals Tribunal is required to act with as little formality as the circumstances of the case permit and according to equity, good conscience and the substantial merits of the case without regard to technicalities or legal forms.

(5) The Appeals Tribunal is required to take such measures as are reasonably practicable—

(a) to ensure that the parties to the proceedings before it understand the nature of the assertions made in the proceedings and the legal implications of those assertions, and

(b) if requested to do so — to explain to the parties any aspect of the procedure of that Tribunal, or any decision or ruling made by it, that relates to the proceedings, and

(c) to ensure that the parties have a reasonable opportunity to be heard or otherwise have their submissions considered in the proceedings.

(6) In proceedings before it, the Appeals Tribunal is required to act as expeditiously as is practicable and to ensure that all relevant material is disclosed to that Tribunal so as to enable it to determine all of the relevant facts in issue in the proceedings.

(7) In particular, the Appeals Tribunal may do all or any of the following:

(a) require evidence or argument to be presented in writing and decide on the matters on which it will hear oral evidence or argument;

(b) require the presentation of the respective cases of the parties before it to be limited to the periods of time that it determines are reasonably necessary for the fair and adequate presentation of the cases;

(c) authorise a document to be served outside the State;

(d) adjourn proceedings to any time and place (including for the purpose of enabling the parties to negotiate a settlement);

(e) at any stage dismiss proceedings if the applicant has withdrawn the application to which the proceedings relate;

(f) at any stage dismiss proceedings that it considers to be frivolous or vexatious or otherwise misconceived or lacking in substance.

(8) The member presiding at proceedings of the Appeals Tribunal may—

(a) hold a directions hearing in relation to any proceedings before that Tribunal, or

(b) authorise the Registrar to hold a directions hearing in relation to the proceedings.

Proceedings on hearing to be normally conducted in public.

57W.—(1) The hearing of an appeal is to be open to the public, unless the parties to the hearing agree that it should be conducted in private.

(2) However, even if the parties do not agree that the hearing should be conducted in private, the Appeals Tribunal may, if satisfied that it is desirable to do so because of the confidential nature of any evidence or matter or for any other reason, make any one or more of the following orders:

(a) an order that the hearing be conducted wholly or partly in private;

(b) an order prohibiting or restricting—

(i) the disclosure of the name, address, picture or any other material that identifies, or may lead to the identification of, any person (whether or not a party to proceedings before the Appeals Tribunal or a witness summoned by, or appearing before, it), or

(ii) the doing of any other thing that identifies, or may lead to the identification of, any such person;

(c) an order prohibiting or restricting the publication or broadcast of any report of proceedings before it;

(d) an order prohibiting or restricting the publication of evidence given before that Tribunal, whether in public or in private, or of matters contained in documents lodged with it or received in evidence by it;

(e) an order prohibiting or restricting the disclosure to some or all of the parties to the proceedings of evidence given before that Tribunal, or of the contents of a document lodged with it or received in evidence by it, in relation to the proceedings.

(3) The Appeals Tribunal may make an order under subsection (2) either on its own or on the application of a party.

(4) The Appeals Tribunal may vary or revoke an order made under subsection (2).

Power to remit matters to Regulatory Authority for further consideration.

57X.—(1) At any stage of proceedings to determine an appeal against an appealable decision, the Appeals Tribunal may remit the decision to the Regulatory Authority for its reconsideration.

(2) The Regulatory Authority shall reconsider a decision remitted under subsection (1) and on the reconsideration may—

(a) affirm the decision, or

(b) vary the decision, or

(c) substitute for the decision a new decision.

(3) If the Regulatory Authority varies the remitted decision—

(a) the appeal is taken to be an appeal against the decision as varied, and

(b) the appellant may either—

(i) proceed with the appeal as varied, or

(ii) withdraw the appeal.

(4) If the Regulatory Authority substitutes for the remitted decision a new decision in substitution for the decision set aside—

(a) the appeal is taken to be an appeal against the new decision, and

(b) the appellant may either—

(i) proceed with the appeal in relation to the new decision, or

(ii) withdraw the appeal.

Reconstitution of Appeals Tribunal during hearing of appeal.

57Y.—(1) The Chairperson may replace a member during the hearing of an appeal if the member becomes mentally or physically incapacitated or otherwise becomes unavailable, or ceases to be a member, before the appeal is determined, but only if the parties agree.

(2) The Appeals Tribunal as so reconstituted is to have regard to the evidence and decisions in relation to the matter that were given or made before it was reconstituted.

(3) If a party does not agree to the reconstitution of the Appeals Tribunal under this section, that Tribunal, as constituted in accordance with this Part, is required to reconsider the proceedings.

(4) When reconsidering proceedings, the Appeals Tribunal may, for the purposes of the proceedings, have regard to any record of the proceedings before that Tribunal as previously constituted, including a record of any evidence taken in the proceedings.

What decisions the Appeals Tribunal can make in determining an appeal.

57Z.—(1) In determining an appeal against an appealable decision, the Appeals Tribunal shall decide what the correct and preferable decision is having regard to the material then before it, including—

(a) any relevant factual material, and

(b) any applicable enactment or other law.

(2) As soon as possible after finishing the hearing of an appeal against an appealable decision, the Appeals Tribunal shall do one of the following:

(a) affirm the decision, or

(b) vary the decision, or

(c) substitute for the decision any appropriate decision that the Regulatory Authority could have lawfully made in relation to the matter concerned, or

(d) set aside the decision and remit the matter concerned for reconsideration by the Regulatory Authority in accordance with any directions or recommendations of the Appeals Tribunal.

(3) The Appeals Tribunal may dismiss an appeal against an appealable decision on the ground that the appellant has failed to attend a hearing of that Tribunal, but only if it is satisfied that the appellant was notified of the date, time and place fixed for the hearing.

(4) The Appeals Tribunal may allow an appeal against an appealable decision on the ground that the Regulatory Authority has failed to attend a hearing of that Tribunal, but only if it is satisfied that that Authority was notified of the date, time and place fixed for the hearing. In that case, the Appeals Tribunal may substitute for the decision appealed against any appropriate decision that the Regulatory Authority could have lawfully made in relation to the matter concerned.

How decisions of the Appeals Tribunal are to be made and given.

57AA.—(1) If the members are not in unanimous agreement on a matter to be determined in proceedings before the Appeals Tribunal, the decision of the majority on the matter is the decision of that Tribunal.

(2) However, a question of law (including the question whether a particular question is a question of law) arising in proceedings before the Appeals Tribunal is to be decided by the member who is presiding in the proceedings.

(3) In deciding a matter before it, the Appeals Tribunal may impose such conditions (including exemptions) as it specifies in the decision.

(4) The Appeals Tribunal is required to give reasons for its decision in writing—

(a) within 28 days after the date on which it gave its decision, or

(b) if the rules specify some other period (either generally or for that class of matter) — within that other period.

(5) Those reasons must set out—

(a) the findings on material questions of fact, referring to the evidence or other material on which those findings were based, and

(b) the Appeals Tribunal's understanding of the applicable law, and

(c) the reasoning processes that led that Tribunal to the conclusions that it made.

(6) A failure to comply with subsection (4) or (5) does not affect the validity of a decision of the Appeals Tribunal.

(7) The Appeals Tribunal shall ensure that a copy of its decision determining an appeal is served on each party to the proceedings.

Appeals Tribunal may reserve decision.

57AB.—(1) The Appeals Tribunal may reserve its decision in any proceedings before it.

(2) A reserved decision of the Appeals Tribunal may be given—

(a) at a subsequent sitting of that Tribunal, or

(b) if the decision is set out in writing and is signed by the person who presided in the proceedings — by being delivered by the Chairperson or Deputy Chairperson, or

(c) by the Registrar, at a time and place of which the parties have been given reasonable notice.

Effect of decision of the Appeals Tribunal.

57AC.—(1) A decision determining an appeal takes effect on the date on which it is given or such later date as may be specified in the decision.

(2) If any such decision varies, or is made in substitution for, a decision of the Regulatory Authority, the decision of the Appeals Tribunal is taken—

(a) to be the decision of that Authority, and

(b) unless that Tribunal orders otherwise — to have had effect as the decision of that Authority on and from the date of its original decision.

Amendments and irregularities.

57AD.—(1) The Appeals Tribunal may, in any proceedings before it, make any amendments to the proceedings that that Tribunal considers to be necessary in the interests of justice.

(2) Any such amendment may be made—

(a) at any stage of the proceedings, and

(b) on such terms as the Appeals Tribunal thinks fit (including terms as to costs).

(3) A failure to comply with a provision of this Part or of the rules in relation to proceedings before the Appeals Tribunal is to be treated as an irregularity that does not itself nullify the proceedings, any step taken in the proceedings, or any decision relating to the proceedings. Nevertheless, if such a failure occurs, the Appeals Tribunal may wholly or partly set aside the proceedings, a step taken in the proceedings, or a decision in the proceedings.

Recovery of amounts ordered to be paid.

57AE.—(1) To facilitate the recovery of any amount (including costs) that the Appeals Tribunal has ordered to be paid, the Registrar is required to certify the amount to be paid.

(2) A certificate given under this section must identify the person liable to pay the certified amount.

(3) A certificate of the Registrar that—

(a) is given under this section, and

(b) is filed in the registry of a court having jurisdiction to give judgment for a debt of the same amount as the amount stated in the certificate,

operates as such a judgment.

(4) A party to proceedings in respect of which an amount has been certified by the Registrar under this section may apply to the Appeals Tribunal for a review of the decision to certify that amount.

Powers in relation to witnesses.

57AF.—(1) The Appeals Tribunal may, in relation to proceedings before it—

(a) call witnesses on its own initiative, and

(b) examine witnesses on oath, or by use of a statutory declaration, and

(c) examine or cross-examine any witness to such extent as it thinks proper in order to elicit information relevant to the determination of the proceedings, and

(d) require any witness to answer questions that it believes to be relevant to the proceedings.

(2) If the Appeals Tribunal decides to call a person as a witness under this section, it may—

(a) try to get the person to attend the proceedings voluntarily by notifying the person in such manner as it thinks appropriate, or

(b) direct the Registrar to issue a summons to compel the attendance of the person before it.

(3) A party to proceedings before the Appeals Tribunal may apply to the Registrar for the issue of a summons compelling the attendance of a witness before it.

(4) On receiving a direction under subsection (2) or an application under subsection (3), the Registrar shall issue a summons requiring the person named in the summons—

(a) to attend proceedings of the Appeals Tribunal on a specified date and at a specified time and place, and

(b) to attend and give evidence, or attend and produce documents or other things, or to do both of those things.

(5) A summons must be signed by the Registrar or be otherwise authenticated as provided by the rules.

(6) A person who, without reasonable excuse, fails to comply with the requirements of a summons commits an offence and is liable on summary conviction to a fine not exceeding €2,000 or to imprisonment for a term not exceeding 3 months, or both.

(7) A summons may be served within or outside the State.

(8) A person who attends proceedings of the Appeals Tribunal to give evidence, or attend and produce documents or other things, is entitled to the same protection and immunity as a person appearing as a witness in civil proceedings before a court.

Power to correct decisions of the Appeals Tribunal.

57AG.—(1) If, after making a decision, the Appeals Tribunal is satisfied that there is an obvious error in the text of the decision or in a written statement of reasons for the decision, it may direct the Registrar to alter the text of the decision or statement in accordance with its directions.

(2) If the text of a decision or statement is so altered, the altered text is taken to be the decision of the Appeals Tribunal or the reasons for the decision.

(3) Examples of obvious errors in the text of a decision or statement of reasons are where—

(a) there is an obvious clerical or typographical error in the text of the decision or statement of reasons, or

(b) there is an error arising from an accidental slip or omission, or

(c) there is a defect of form, or

(d) there is an inconsistency between the decision and the statement of reasons.

(4) The powers of the Appeals Tribunal under this section may be exercised by the member who presided at the proceedings to which the decision relates.

Appeals Tribunal may award costs in certain circumstances.

57AH.—(1) The Appeals Tribunal may award costs in relation to proceedings before it and may determine by whom and to what extent costs are to be paid.

(2) In this section, ‘costs’ includes not only costs of or incidental to the hearing and determination of an appeal, but also the costs of or incidental to the proceedings giving rise to the appeal.

Appeals Tribunal may make rules of procedure.

57AI.—(1) The Appeals Tribunal may make rules, not inconsistent with this Part, for or with respect to any matter—

(a) that by this Part is required or permitted to be prescribed by the rules, or

(b) that is necessary or convenient to be prescribed in relation to the practice and procedure of that Tribunal.

(2) Without limiting subsection (1), the rules may provide for all or any of the following matters:

(a) the responsibilities of the Registrar or other staff of the Appeals Tribunal under this Part;

(b) fixing the places and times for holding hearings of the Appeals Tribunal;

(c) the representation of parties at hearings of the Appeals Tribunal;

(d) the discovery of documents relating to proceedings before the Appeals Tribunal;

(e) notifying decisions of the Appeals Tribunal to parties to proceedings before it;

(f) the means for, and the practice and procedure to be followed in, the enforcement and execution of decisions of the Appeals Tribunal;

(g) the fees payable in respect of lodging appeals with the Appeals Tribunal;

(h) the waiver of fees payable in respect of lodging appeals with the Appeals Tribunal (whether at the time of lodgement of an appeal or otherwise);

(i) the refund, in whole or in part, of fees if proceedings before the Appeals Tribunal terminate in a manner favourable to the appellant;

(j) the award of costs in respect of proceedings before the Appeals Tribunal;

(k) the use of the seal of the Appeals Tribunal.

Chapter 4

References and appeals to High Court

References of questions of law to High Court.

57AJ.—(1) When hearing an appeal, the Appeals Tribunal may, on its own initiative or at the request of a party, refer a question of law arising in the appeal to the High Court for the opinion of the Court.

(2) The High Court has jurisdiction to hear and determine any question of law referred to it under this section.

(3) If a question of law arising in an appeal has been referred to the High Court under this section, the Appeals Tribunal may not—

(a) give a decision in the appeal to which the question is relevant while the reference is pending, or

(b) proceed in a manner, or make a decision, that is inconsistent with the opinion of the High Court on the question.

Right of appeal to High Court.

57AK.—(1) A party to an appeal determined by the Appeals Tribunal may appeal to the High Court against the decision of the Appeals Tribunal in respect of the appeal.

(2) Neither the Appeals Tribunal nor any of its members can be made a party to an appeal under this section.

(3) An appeal under this section must be made—

(a) within such period and in such manner as is prescribed by rules of court of the High Court, or

(b) within such further period as that Court may allow.

Orders on appeal to the High Court.

57AL.—(1) The High Court is to hear and determine an appeal made under section 57AK and may make such orders as it thinks appropriate in light of its determination.

(2) The orders that may be made by the High Court on the hearing of such an appeal include (but are not limited to)—

(a) an order affirming or setting aside the decision of the Appeals Tribunal, and

(b) an order remitting the case to be heard and decided again by that Tribunal (either with or without the hearing of further evidence) in accordance with the directions of that Court.

(3) The determination of the High Court on the hearing of such an appeal is final, except that a party to the appeal may apply to the Supreme Court to review the determination on a question of law (but only with the leave of either of those Courts).

Appeal does not stay decision of the Appeals Tribunal.

57AM.—An appeal under section 57AK does not—

(a) affect the operation of the decision appealed against, or

(b) prevent the taking of action to implement the decision, unless the High Court otherwise orders.

Chapter 5

Miscellaneous

Contempt of Appeals Tribunal.

57AN.—(1) The Appeals Tribunal may report the following matters to the High Court:

(a) if a person fails to attend in obedience to a summons after having been served with a summons to attend before the Appeals Tribunal as a witness, or

(b) if a person fails to produce any document or other thing in the person's custody or control that the person is required by a summons to produce after having been served with a summons to attend before the Appeals Tribunal, or

(c) if a person refuses to be sworn or to make an affirmation or refuses or otherwise fails to answer any question that is put to the person by the Appeals Tribunal after being called or examined as a witness before that Tribunal, or

(d) if a person threatens or insults—

(i) a member, assessor or officer of the Appeals Tribunal, or

(ii) any witness or person summoned to attend before that Tribunal, or

(iii) a barrister, solicitor or other person authorised to appear before that Tribunal, or

(e) if a person interrupts the proceedings of, or otherwise misbehaves before, the Appeals Tribunal, or

(f) if a person obstructs or attempts to obstruct the Appeals Tribunal, a member of that Tribunal or a person acting with the authority of that Tribunal in the exercise of any lawful function, or

(g) if a person discloses, or authorises the disclosure of, evidence given before the Appeals Tribunal or any of the contents of a document produced at a hearing that that Tribunal has ordered not to be published, or

(h) if a person discloses, or authorises the disclosure of, evidence given before the Appeals Tribunal at a hearing held in private or any of the contents of a document produced at a hearing held in private (except to a member of staff of that Tribunal or as permitted by that Tribunal), or

(i) if a person does any other thing that, if the Appeals Tribunal were a court of law having power to commit for contempt, would be contempt of that court.

(2) If the Appeals Tribunal reports a matter to the High Court under subsection (1), and the Court is satisfied that there was no reasonable excuse for the act or omission concerned, then the Court—

(a) may make an order requiring the person concerned to comply with this Act, and

(b) if the person fails to comply with such order, may deal with the matter as if it were a contempt of that Court.

(3) Subsection (1)(h) does not apply to the Registrar or any other member of staff of the Appeals Tribunal in relation to evidence or contents of documents published to other members of that staff or to members of that Tribunal.

Act or omission that is both an offence and contempt.

57AO.—(1) An act or omission may be punished as a contempt of the Appeals Tribunal even though it could be punished as an offence.

(2) An act or omission may be punished as an offence even though it could be punished as a contempt of the Appeals Tribunal.

(3) If an act or omission constitutes both an offence and a contempt of the Appeals Tribunal, the offender is not liable to be punished twice.

Appeals Tribunal to have seal.

57AP.—The Appeals Tribunal is required to have a seal, which is to be judicially noticed.

Authentication of documents.

57AQ.—Every document requiring authentication by the Appeals Tribunal is sufficiently authenticated without the seal of that Tribunal if it is signed by the Chairperson, the Deputy Chairperson or the Registrar.

Judicial notice to be taken of certain signatures.

57AR.—Judicial notice is to be taken of the signature of the Chairperson, the Deputy Chairperson or the Registrar when appearing on a document issued by the Appeals Tribunal.

Proof of certain matters not required.

57AS.—In any legal proceedings, no proof is required (unless evidence to the contrary is given) of—

(a) the constitution of the Appeals Tribunal, or

(b) any decision of that Tribunal, or

(c) the appointment, or the holding of office by, a member of that Tribunal or the Registrar.

Protection of barristers, solicitors, witnesses and others.

57AT.—(1) A barrister, solicitor or other person appearing before the Appeals Tribunal on behalf of a party has the same protection and immunity as a barrister has in appearing for a party in proceedings in the High Court.

(2) Subject to this Part and the rules, a person summoned to attend or appearing before the Appeals Tribunal as a witness has the same protection, and is, in addition to the penalties provided by this Part, subject to the same liabilities, as a witness in proceedings in the High Court.

Allowances and expenses of witnesses.

57AU.—(1) A person (other than an employee of the Bank or a civil servant for the purposes of the Civil Service Regulation Acts 1956 to 1996) who is required to appear or give evidence before the Appeals Tribunal is entitled to be paid such allowances and expenses as are ascertained in accordance with a scale of allowances and expenses prescribed by regulations made under section 57AZ for the purposes of this section.

(2) Subject to subsection (3), the allowances and expenses are to be paid by the party at whose request a witness is summoned.

(3) The Appeals Tribunal may order the allowances and expenses of a witness referred to in subsection (2) to be paid wholly or partly by the Bank.

Notices, service and lodgement of documents.

57AV.—(1) For the purposes of this Part, a notice or document may be given to a person (or a notice or document may be served on a person)—

(a) in the case of a natural person, by—

(i) delivering it to the person personally, or

(ii) leaving it at, or by sending it by pre-paid post to, the residential or business address of the person last known to the person serving the document, or

(b) in the case of a body corporate — by leaving it at, or by sending it by pre-paid post to, the head office, a registered office or a principal office of the body corporate, or

(c) in the case of the Regulatory Authority — by leaving it with, or by sending it by pre-paid post to, the Chief Executive or a member of staff of that Authority.

(2) A notice or other document may be served on the Appeals Tribunal by leaving it at, or by sending it by post to (or a document that is required or permitted to be lodged with that Tribunal may be lodged at)—

(a) the office of the Registrar, or

(b) if the Registrar has more than one office, any one of those offices.

(3) Nothing in this section affects the operation of any provision of any law or the rules of a court authorising a document to be served in a manner not provided for by this section.

(4) The rules may—

(a) provide for other means of serving, giving or lodging any notice or document, and

(b) provide for a notice or document of a class specified by the rules to be served, given or lodged only in the manner prescribed by the rules.

Annual report of the Appeals Tribunal.

57AW.—(1) Not later than 3 months after the end of each financial year, the Chairperson shall provide the Minister and the Board with a report on the operations of the Appeals Tribunal for that year.

(2) As soon as practicable after receiving the report, the Minister shall arrange for it to be laid before both Houses of the Oireachtas.

(3) The Registrar is required to publish the report as soon as practicable after becoming aware that the report has been laid in accordance with subsection (2). All members of the public are entitled to obtain a copy of the report on payment of such reasonable charge as may be fixed by the Chairperson in consultation with the other members.

How the cost of operating the Appeals Tribunal is to be met.

57AX.—(1) The cost of operating the Appeals Tribunal is to be met from funds provided in accordance with this section.

(2) Not later than 3 months before the beginning of each financial year, or within such extended period as the Minister may allow, the Chairperson of the Appeals Tribunal shall—

(a) prepare a statement setting out estimates of that Tribunal's expected income and expenditure for that year (including the cost of providing remuneration and other amounts to its members and to its staff), and

(b) submit the statement to the Minister for approval.

(3) The Minister may approve the statement either without amendment or with such amendment as may be agreed with the Chairperson, but in doing so is required to have regard to the Rome Treaty and the ESCB Statute.

(4) As soon as practicable after approving the statement, the Minister shall direct the Bank to pay to the Registrar such amount as the Minister specifies as being necessary to meet the cost of operating the Appeals Tribunal during the financial year concerned, after taking into account any income likely to be received by that Tribunal.

(5) The Bank is required to comply with a direction given under subsection (4) within such period or periods as are specified in the direction. The amounts required to be paid under the direction are a charge on the general fund of the Bank.

Registrar to keep proper accounting records.

57AY.—(1) The Registrar shall keep all proper accounting records in respect of all money received and spent by or in respect of the Appeals Tribunal.

(2) The Registrar shall open and maintain such bank accounts as are necessary for the operation of the Appeals Tribunal and shall ensure—

(a) that all money received for that Tribunal is banked as soon as practicable after it is received, and

(b) that no money is paid out of any of those accounts without the authority of the Chairperson.

Government may make regulations with respect to the Appeals Tribunal.

57AZ.—The Government may make regulations, not inconsistent with this Act, for or with respect to any matter that by this Part is required or permitted to be prescribed by regulation.”.

29. Insertion into the Principal Act of new Part VIIIA.

29.—The Principal Act is amended by inserting the following Part after section 57AZ:

“PART VIIIA

Regulations and Orders

Regulations for purposes of this Act.

61A.—(1) The Minister may, after consulting the Bank, make regulations, not inconsistent with this Act, for or with respect to any matter that by this Act is required or permitted to be prescribed (other than a matter required or permitted to be prescribed by the Government or the Bank), or that is necessary or expedient to be prescribed, for carrying out or giving effect to this Act (Part VIIA excepted).

(2) A provision of a regulation under this Act may—

(a) apply generally or be limited in its application by reference to specified exceptions or factors, or

(b) apply differently according to different factors of a specified kind, or

(c) authorise any matter or thing to be from time to time determined, applied or regulated by a specified person or body,

or may do any combination of those things.

Power to amend or revoke certain orders.

61B.—(1) If the effect of an order made by the Minister under this Act has not become spent, the Minister may, after consulting the Bank, by further order, amend or revoke the order.

(2) For the purpose of subsection (1), ‘amend’ includes add to, substitute and delete.

Regulations and orders to be laid before each House of Oireachtas.

61C.—The Minister shall arrange for every regulation made by the Government, Minister or the Chief Executive, and every order made by the Government or the Minister, under this Act to be laid before each House of the Oireachtas as soon as practicable after it is made.

House of Oireachtas may annul regulation or order.

61D.—(1) Either House of the Oireachtas may, by resolution passed within 21 sitting days after the day on which a regulation or order was laid before it in accordance with section 61C, annul the regulation or order.

(2) The annulment of such a regulation or order takes effect immediately on the passing of the resolution concerned, but does not affect anything that was done under the regulation or order before the passing of that resolution.”.

30. Insertion into the Principal Act of new sections 61E and 61F.

30.—The Principal Act is amended by inserting the following sections in Part IX before section 62:

“Bank and certain other persons required to consult.

61E.—(1) This section applies to the following persons:

(a) the Bank;

(b) any delegate of the Bank;

(c) the Pensions Board;

(d) the Director of Consumer Affairs;

(e) the Competition Authority;

(f) the Registrar of Friendly Societies;

(g) the Director of Corporate Enforcement;

(h) any person whom the Minister (after consultation with the person) designates in writing for the purposes of this section.

(2) The persons to whom this section applies shall, whenever the occasion requires, consult with each other for the purpose of ensuring the establishment and pursuit of consistent policies regarding the regulation of financial services in the State.

(3) Nothing in this section authorises a person to whom this section applies to contravene section 33AK or any provision of a law that imposes an obligation of confidentiality on the person.

Expenses incurred by Minister in administering this Act.

61F.—The expenses incurred by the Minister in administering this Act are payable out of money provided by the Oireachtas.”.

31. Substitution of the First and Second Schedules to the Principal Act.

31.—The Principal Act is amended by substituting the following Schedules for the First and Second Schedules:

“SCHEDULE 1 Section 32.

Provisions Applicable to the Board

General procedure.

1.—The procedure for the calling of meetings of the Board and for the conduct of business at those meetings is, subject to this Schedule, to be as determined by the Board. The Board may determine that procedure by means of rules or standing orders or by any other means.

Quorum.

2.—(1) Subject to subparagraph (2), a quorum for all meetings of the Board is 7.

(2) Where the Board is considering budgetary, funding or staffing issues relating to the Regulatory Authority, there is no quorum unless, in addition to complying with subparagraph (1), there is present so many members of the Board as ensures that—

(a) if there is an even number of members present, at least half of them are not members of the Regulatory Authority,

(b) if there is an uneven number of members present, the majority of them are not members of the Regulatory Authority.

Who is to preside at meetings of the Board.

3.—(1) Subject to subparagraph (3), a meeting of the Board is to be presided over by—

(a) the Chairperson, or

(b) in the absence of the Chairperson or if there is no Chairperson—

(i) the Director appointed under section 22 to act as Governor, or

(ii) if no Director has been appointed under that section — a Director elected by the Directors present at the meeting.

(2) If the votes are equal on a motion put at a meeting of the Board, the person who is presiding at the meeting has a casting as well as a deliberative vote.

(3) Where the Board is dealing with—

(a) budgetary or funding issues relating to the Regulatory Authority, or

(b) staffing issues relating to the Bank,

the meeting of the Board must be presided over by the Governor or, where section 22A applies, the Director General of the Bank.

Voting at Board meetings.

4.—A decision supported by a majority of the votes cast at a meeting of the Board at which a quorum is present is the decision of the Board.

Transaction of business otherwise than at ordinary meetings.

5.—(1) The Board may, if it thinks fit, transact any of its business by the circulation of papers among all its members for the time being. A resolution approved in writing by a majority of those members is taken to be a decision of the Board.

(2) The Board may, if it thinks fit, transact any of its business at a meeting at which its members (or some of its members) participate by telephone, closed circuit television or other means, but only if any member who speaks on a matter being considered by the meeting can be heard by the other members. For the purposes of—

(a) the approval of a resolution under subparagraph (1), or

(b) a meeting held in accordance with subparagraph (2),

the members of the Board have the same voting rights as they have at an ordinary meeting of the Board.

(3) Papers may be circulated among Board members for the purposes of subparagraph (1) by the electronic transmission of the information in the papers concerned.

Disclosure of Directors' pecuniary interests.

6.—(1) If—

(a) a Director has a direct or indirect pecuniary interest in a matter being considered or about to be considered at a meeting of the Board, and

(b) the interest appears to raise a conflict with the proper performance of the Director's duties in relation to the consideration of the matter,

the Director shall, as soon as possible after the relevant facts have come to the Director's knowledge, disclose the nature of the interest at a meeting of the Board or to the Secretary to the Board who shall advise the next meeting of the Board of the disclosure.

(2) A disclosure by a Director that the Director—

(a) is a director, or is in the employment, of a specified company or other body, or

(b) is a partner, or is in the employment, of a specified person, or

(c) has some other specified interest relating to a specified company or other body or to a specified person,

is a sufficient disclosure of the nature of the interest in any matter relating to that company or other body, or to that person, that may arise after the date of the disclosure and that is required to be disclosed under subparagraph (1).

(3) The Secretary to the Board is required to make and keep a record of particulars of any disclosure made under this paragraph and, subject to section 33AK, to make that record available for inspection at all reasonable hours by any person who asks to see the record.

(4) After a Director has disclosed the nature of any interest in any matter, the Director may not, unless the Board otherwise determines—

(a) be present during any deliberation of the Board with respect to the matter, or

(b) take part in any decision of the Board with respect to the matter.

(5) For the purposes of the making of a determination by the Board under subparagraph (4), a Director who has a direct or indirect pecuniary interest in a matter to which the disclosure relates may not—

(a) be present during any deliberation of the Board for the purpose of making the determination, or

(b) take part in the making by the Board of the determination.

(6) A contravention of this paragraph does not invalidate any decision of the Board.

(7) This paragraph does not apply to or in respect of an interest of a Director in a matter or thing that arises merely because the Director is a contributor to a retirement benefits scheme.

SCHEDULE 2 Section 33C(1) and (2).

Enactments and Regulations under which Regulatory Authority is to Perform Functions of the Bank

PART 1

Enactments

Number and Year

Short Title

Provisions affected

1909 c. 49

Assurance Companies Act 1909

The whole Act

No. 45 of 1936

Insurance Act 1936

The whole Act

No. 7 of 1953

Insurance Act 1953

Section 4

No. 33 of 1963

Companies Act 1963

Section 213

No. 18 of 1964

Insurance Act 1964

The whole Act

No. 24 of 1971

Central Bank Act 1971

The whole Act, other than sections 7(1) and (4), 18, 23, 44- 46, 48-50 and 55

No. 30 of 1978

Insurance (Amendment) Act 1978

The whole Act

No. 24 of 1983

Postal and Telecommunications Services Act 1983

Section 104

No. 29 of 1983

Insurance (No. 2) Act 1983

The whole Act

No. 3 of 1989

Insurance Act 1989

The whole Act

No. 16 of 1989

Central Bank Act 1989

The whole Act, other than sections 22-25 and 118-126

No. 17 of 1989

Building Societies Act 1989

The whole Act

No. 21 of 1989

Trustee Savings Banks Act 1989

The whole Act

No. 27 of 1990

Companies (Amendment) Act 1990

Sections 3, 3C, 18, 23, 24 and 27

No. 33 of 1990

Companies Act 1990

Part XIII

No. 37 of 1990

Unit Trusts Act 1990

The whole Act

No. 18 of 1992

Housing (Miscellaneous Provisions) Act 1992

Section 13

No. 15 of 1994

Criminal Justice Act 1994

Section 32(10)(e)

No. 24 of 1994

Investment Limited Partnership Act 1994

The whole Act

No. 27 of 1994

Solicitors (Amendment) Act 1994

Section 78

No. 9 of 1995

Stock Exchange Act 1995

The whole Act

No. 11 of 1995

Investment Intermediaries Act 1995

The whole Act

No. 24 of 1995

Consumer Credit Act 1995

The whole Act

No. 25 of 1995

Netting of Financial Contracts Act 1995

Sections 2 and 3

No. 8 of 1997

Central Bank Act 1997

The whole Act other than Parts II and III

No. 15 of 1997

Credit Union Act 1997

The whole Act

No. 37 of 1998

Investor Compensation Act 1998

The whole Act

No. 32 of 2001

Dormant Accounts Act 2001

Part 3 and section 17

No. 47 of 2001

Asset Covered Securities Act 2001

The whole Act

PART 2

Statutory instruments

Number and Year

Short Title

Provisions affected

S.R. & O. No. 75 of 1940

Actuary (Qualification) Regulations 1940

The whole instrument

S.R. & O. No. 76 of 1940

Industrial Assurance (Contents of Policies) Order 1940

The whole instrument

S.R. & O. No. 78 of 1940

Insurance (Deposits) Rules 1940

The whole instrument

S.R. & O. No. 80 of 1940

Insurance Regulations 1940

The whole instrument

S.R. & O. No. 81 of 1940

Industrial Assurance (Fees for Determination of Disputes) Regulations 1940

The whole instrument

S.I. No. 64 of 1971

Decimal Currency (Friendly Society and Industrial Assurance Contracts) Regulations 1971

The whole instrument

S.I. No. 115 of 1976

European Communities (Non- Life Insurance) Regulations 1976

The whole instrument

S.I. No. 178 of 1978

European Communities (Insurance Agents and Brokers) Regulations 1978

The whole instrument

S.I. No. 382 of 1978

European Communities (Insurance) (Non-life) Regulations 1978

The whole instrument

S.I. No. 65 of 1983

European Communities (Co- Insurance) Regulations 1983

The whole instrument

S.I. No. 57 of 1984

European Communities (Life Assurance) Regulations 1984

The whole instrument

S.I. No. 27 of 1987

Building Societies Regulations 1987

First Schedule to Article 8

S.I. No. 78 of 1989

European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 1989

The whole instrument

S.I. No. 191 of 1990

Insurance (Bonding of Intermediaries) Regulations 1990

The whole instrument

S.I. No. 142 of 1991

European Communities (Non- Life Insurance) (Amendment) (No. 2) Regulations 1991

The whole instrument

S.I. No. 197 of 1991

European Communities (Non- Life Insurance) (Legal Expenses) Regulations 1991

The whole instrument

S.I. No. 244 of 1992

European Communities (Non- Life Insurance) (Amendment) Regulations 1992

The whole instrument

S.I. No. 294 of 1992

European Communities (Credit Institutions: Accounts) Regulations 1992

Regulations 8, 14 and 15

S.I. No. 395 of 1992

European Communities (Licensing and Supervision of Credit Institutions) Regulations 1992

The whole instrument

S.I. No. 396 of 1992

European Communities (Consolidated Supervision of Credit Institutions) Regulations 1992

The whole instrument

S.I. No. 359 of 1994

European Communities (Non- Life Insurance) Framework Regulations 1994

The whole instrument

S.I. No. 360 of 1994

European Communities (Life Assurance) Framework Regulations 1994

The whole instrument

S.I. No. 128 of 1995

Insurance (Fees) Order 1995

The whole instrument

S.I. No. 168 of 1995

European Communities (Deposit Guarantee Schemes) Regulations 1995

The whole instrument

S.I. No. 202 of 1995

European Communities (Non- Life Insurance Accounts) Regulations 1995

The whole instrument

S.I. No. 23 of 1996

European Communities (Insurance Undertakings: Accounts) Regulations 1996

The whole instrument

S.I. No. 25 of 1996

European Communities (Swiss Confederation Agreement) Regulations 1996

The whole instrument

S.I. No. 267 of 1996

Supervision of Credit Institutions, Stock Exchange Member Firms and Investment Business Firms Regulations 1996

The whole instrument

S.I. No. 380 of 1997

Rules entitled Stock Exchange Act 1995 (Determination Committees Rules of Procedure) Regulations 1997

The whole instrument

S.I. No. 381 of 1997

Rules entitled Investment Intermediaries Act 1995 (Determination Committee) Rules of Procedure 1997

The whole instrument

S.I. No. 399 of 1999

European Communities (Supplementary Supervision of Insurance Undertakings in an Insurance Group) Regulations 1999

The whole instrument

S.I. No. 473 of 2000

Insurance Act 1989 (Reinsurance) (Form of Notice) Regulations 2000

The whole instrument

S.I. No. 15 of 2001

Life Assurance (Provision of Information) Regulations 2001

The whole instrument

S.I. No. 221 of 2002

European Communities (Electronic Money) Regulations 2002

The whole instrument

S.I. No. 335 of 2002

European Communities (Cross Border Payments in Euro) Regulations 2002

The whole instrument

SCHEDULE 3 Section 33E(4).

Provisions Applicable to Regulatory Authority

PART 1

Definitions

Definitions.

1.—In this Schedule—

‘appointed member’ means a member appointed by the Minister, other than an official member;

‘official member’ means a person is a member by virtue of being the holder of an office specified by the Minister.

PART 2

Members

Terms of office of members.

2.—(1) Appointed members hold office for an indefinite period, but on the fifth anniversary after the commencement of section 33E, and on every subsequent anniversary, 2 of the appointed members are required to retire. Which of those members is or are to retire is to be determined as provided by the Regulatory Authority's rules of procedure.

(2) Appointed members who are required to retire under this paragraph are eligible for re-appointment. However, a person who retires after having served as an appointed member for 15 years is not eligible for reappointment.

Remuneration of members.

3.—An appointed member is entitled to be paid such remuneration (including travelling and subsistence allowances) and be subject to such conditions of service as the Minister determines in respect of the member from time to time.

Deputies of members.

4.—(1) The Minister may, from time to time, appoint a person to be the deputy of an appointed member. The Minister may also revoke such an appointment.

(2) In the absence of an appointed member, the member's deputy—

(a) may, if available, act in the place of the member, and

(b) while so acting, has all the functions of the member.

(3) The deputy of an appointed member who is the Chairperson does not (because of this subparagraph) have the member's functions as Chairperson.

(4) A person while acting in the place of an appointed member is entitled to be paid such allowances as the Minister determines in respect of the person from time to time.

Vacancy in office of member.

5.—(1) A person ceases to be an official member if the person dies or otherwise ceases to hold the office by virtue of which the person is a member.

(2) A person ceases to be an appointed member if the member—

(a) dies, or

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

(c) resigns the office by notice in writing addressed to the Minister, or

(d) has, without the permission of the other members, been absent from meetings of the Regulatory Authority for a consecutive period of 6 months, or

(e) 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 Seanad Éireann, or

(f) 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

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

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

(i) becomes physically or mentally incapable of performing the duties of a member, or

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

(k) is removed from office under subsection (3).

(3) The Minister may remove an appointed member from office—

(a) for proven misconduct or incompetence, or

(b) in order to enable the Regulatory Authority to function effectively.

Filling vacancy in office of member.

6.—(1) If the office of an appointed member becomes vacant, the Minister is required to arrange for a suitably qualified person to be appointed to fill the vacancy in accordance with this Act within 60 days after the date on which the vacancy occurred.

(2) Subparagraph (1) does not apply if the term of office of the member concerned was due to expire within 60 days after the vacancy occurred.

Disclosure of members' pecuniary interests.

7.—(1) If—

(a) a member has a direct or indirect pecuniary interest in a matter being considered or about to be considered at a meeting of the Regulatory Authority, and

(b) the interest appears to raise a conflict with the proper performance of the member's duties in relation to the consideration of the matter,

the member shall, as soon as possible after the relevant facts have come to the member's knowledge, disclose the nature of the interest at a meeting of the Regulatory Authority or to the Secretary to the Authority who shall advise the next meeting of the Regulatory Authority of the disclosure.

(2) A disclosure by a member that the member—

(a) is a member, or is in the employment, of a specified company or other body, or

(b) is a partner, or is in the employment, of a specified person, or

(c) has some other specified interest relating to a specified company or other body or to a specified person,

is a sufficient disclosure of the nature of the interest in any matter relating to that company or other body, or to that person, that may arise after the date of the disclosure and that is required to be disclosed under subparagraph (1).