Central Bank and Financial Services Authority of Ireland Act 2003

(3) The Secretary to the Regulatory Authority is required to make and keep a record of 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 member has disclosed the nature of any interest in any matter, the member may not, unless the Regulatory Authority otherwise determines—

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

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

(5) For the purposes of the making of a determination by the Regulatory Authority under subparagraph (4), a member 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 that Authority for the purpose of making the determination, or

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

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

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

PART 3

Procedure of Regulatory Authority

Procedure for meetings.

8.—(1) The procedure for the calling of meetings of the Regulatory Authority and for the conduct of business at those meetings is, subject to this Schedule, to be as determined by that Authority.

(2) The Regulatory Authority may make rules of procedure, not inconsistent with this Schedule, for the purposes of paragraph 2 and of subparagraph (1) of this paragraph.

Quorum for meetings of Regulatory Authority.

9.—The quorum for a meeting of the Regulatory Authority is a majority of the members.

Who is to preside at meetings of the Regulatory Authority.

10.—(1) A meeting of the Regulatory Authority is to be presided over by—

(a) the Chairperson, or

(b) in the absence of the Chairperson, a member elected by the members present at the meeting.

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

Voting at meetings of the Regulatory Authority.

11.—A decision supported by a majority of the votes cast at a meeting of the Regulatory Authority at which a quorum is present is the decision of that Authority.

Transaction of business of Regulatory Authority otherwise than at ordinary meetings.

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

(2) The Regulatory Authority may, if it thinks fit, transact any of its business at a meeting at which members (or some 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.

(3) 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 have the same voting rights as they have at an ordinary meeting of the Regulatory Authority.

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

First meeting of the Regulatory Authority.

13.—The Chairperson is responsible for calling the first meeting of the Regulatory Authority.”.

32. Amendment of Third Schedule to the Principal Act.

32.—The Third Schedule to the Principal Act is amended by substituting “SCHEDULE 4” for “THIRD SCHEDULE”.

33. Insertion into the Principal Act of new Schedule 5.

33.—The Principal Act is amended by inserting the following Schedule after Schedule 4 (as amended by section 32 of this Act):

“SCHEDULE 5. Section 57D(5).

Provisions Applicable to Members of the Appeals Tribunal

Acting Chairperson.

1.—(1) If the Chairperson is absent from duty, the Deputy Chairperson is to be acting Chairperson.

(2) The acting Chairperson has the functions and powers of the Chairperson and anything done by an Acting Chairperson in the performance or exercise of those powers and functions has effect as if the Chairperson had done the thing.

(3) In this paragraph, absence from duty includes a vacancy in the relevant office.

Terms of appointment of members.

2.—(1) Subject to Part VIIA of this Act and to this Schedule, a member holds office for 5 years.

(2) A member is eligible for re-appointment, but may not hold office for more than three consecutive terms of 5 years.

Members to take oath of office.

3.—A member is required to take an oath before performing the functions of the member's office. The regulations may make provision for the oaths that are to be taken by members.

Protection and immunities of members.

4.—A member has as such the same protection and immunities as a Judge of the High Court.

Remuneration and other conditions of service of members.

5.—A member is entitled to such remuneration and other conditions of service as the President may from time to time determine on the advice of the Government. This paragraph is subject to paragraph 10.

Vacancy in office of Chairperson and Deputy Chairperson.

6.—(1) A person ceases to be Chairperson or Deputy Chairperson 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 given to the President, or

(d) ceases to be eligible to practice as a barrister or solicitor, 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 Chairperson or Deputy Chairperson, or

(j) is removed from office by a resolution passed in accordance with subparagraph (2).

(2) The Chairperson and Deputy Chairperson can be removed from office only by the President on a resolution passed by both Houses of the Oireachtas in the same session seeking removal on the ground of proven misbehaviour or incapacity.

Vacancy in office of other members.

7.—(1) A person who is a lay member ceases to be such a member 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 to the President, 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 Seanad Éireann, 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 a member, 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 subparagraph (2).

(2) The President may, on the advice of the Government, remove a lay member from office for proven incompetence or misbehaviour.

Former member whose term expires may complete unfinished matters.

8.—(1) Even though a person's term of office as a member has come to an end, the person may finish or otherwise continue to deal with any matters relating to proceedings before the Appeals Tribunal that have been heard or partly heard (or were otherwise the subject of deliberations) by the person before the end of that term.

(2) While finishing or otherwise dealing with matters referred to in subparagraph (1), the person is taken to have and may exercise all the rights and functions of a member that the person had immediately before the end of his or her term of office.

Superannuation and leave — preservation of certain accrued rights.

9.—(1) In this paragraph—

‘eligible member’ means a member who, immediately before being appointed to the Appeals Tribunal, was a civil servant or an officer or employee of a public authority declared by an enactment or other law to be an authority to which this paragraph applies;

‘superannuation scheme’ means a scheme, fund or arrangement under which any superannuation or retirement benefits are provided and which is established by or under an Act.

(2) An eligible member—

(a) may continue to belong to any superannuation scheme to which the member was a contributor immediately before becoming a member, and

(b) is entitled to receive any payment, pension or gratuity accrued or accruing under the scheme,

as if the member had continued to belong to the scheme while serving as a member.

(3) Service by the eligible member as a member of the Appeals Tribunal is taken to be service as an officer in the member's previous employment for the purposes of any law under which the member continues to belong to the scheme or by which an entitlement under the scheme is conferred. The eligible member is to be regarded as an officer or employee for the purposes of the scheme, and the State is to be regarded as the employer for those purposes.

(4) This section ceases to apply to the eligible member if the member becomes a member of another superannuation scheme, but this subparagraph does not prevent the eligible member from receiving a resignation benefit from the first superannuation scheme.

(5) An eligible member retains any rights to annual and other leave accrued or accruing in the member's previous employment.

(6) An eligible member is not entitled to claim, under both this Act and any other Act, dual benefits of the same kind for the same period of service.

Chairperson may delegate certain functions and powers.

10.—(1) The Chairperson may—

(a) delegate to the Deputy Chairperson any of the functions or powers of the Chairperson, or

(b) delegate to the Registrar or any other member of staff of the Appeals Tribunal any of the functions or powers of the Chairperson prescribed by the rules,

other than this power of delegation.

(2) A delegation—

(a) may be general or limited,

(b) must be in, or be evidenced by, writing signed by the Chairperson, and

(c) may be revoked, wholly or partly, by the Chairperson.

(3) A delegated function or power may be performed or exercised only in accordance with any conditions to which the delegation is subject.

(4) A delegate may, in the exercise of a delegated function, exercise any power that is incidental to the delegated function.

(5) A delegated function or power that purports to have been performed or exercised by a delegate is, until the contrary is proved, taken to have been duly performed or exercised by the delegate.

(6) A delegated function or power that is duly exercised by a delegate is taken to have been performed or exercised by the Chairperson.

(7) If a function is delegated to the holder of a particular office—

(a) the delegation does not cease to have effect merely because the person who was the holder of the particular office when the function was delegated ceases to be the holder of that office, and

(b) the function or power is to be performed or exercised by the person for the time being occupying or acting in the office concerned.

(8) The Chairperson may, despite the delegation, perform a function that has been delegated under this paragraph.

Disclosure of members' pecuniary and other interests.

11.—(1) If a person is, or is to be, a member of the Appeals Tribunal as constituted for the purposes of proceedings and the person has or acquires an interest (pecuniary or otherwise) that could conflict with the proper performance of the person's functions in relation to the proceedings, the person—

(a) shall disclose the nature of the interest to the parties to the proceedings, and

(b) may not, without the consent of all of the parties, take part in the proceedings, or exercise any powers in relation to the making by that Tribunal of the decision to which the proceedings relate.

(2) If the Chairperson becomes aware that a person who is, or is to be, a member of the Appeals Tribunal as constituted for the purposes of proceedings and that the person has in relation to the proceedings an interest referred to in subparagraph (1), the Chairperson shall—

(a) if the Chairperson considers that the person should not take part, or should not continue to take part, in the proceedings — give a direction to the person accordingly, or

(b) in any other case — arrange for the person's interest to be disclosed to the parties to the proceedings where the interest has not already been disclosed under subparagraph (1).

(3) For the purposes of this paragraph, the expertise or experience of a member in relation to a class of matters in relation to which the Appeals Tribunal has jurisdiction does not constitute an interest that could conflict with the proper performance of the functions of the member.

(4) A failure to comply with this paragraph does not affect the validity of any decision made by the Appeals Tribunal.

Application of Schedule to acting members.

12.—(1) All of the provisions of this Schedule except paragraph 2 apply to acting members.

(2) In this paragraph, ‘acting member’ means a person appointed by or under this Schedule to act as a member.”.

PART 3 Repeal and Amendment of Other Enactments, etc.

34. Repeal of certain enactments.

34.—The following Acts are repealed:

(a) the Central Bank Act 1961;

(b) the Central Bank Act 1964;

(c) the Insurance Act 1990.

35. Consequential amendment of other legislation.

35.—(1) The Acts specified in Schedule 1 are amended as indicated in that Schedule.

(2) The European Community Regulations specified in Schedule 2 are amended as indicated in that Schedule.

PART 4 Savings and Transitional Provisions

36. Schedule 3 (savings and transitional provisions).

36.—The savings and transitional provisions set out in Schedule 3 have effect.