S.I. No. 376/2013 - Credit Institutions Resolution Fund Levy Regulations 2013

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 8th October, 2013.

I, MICHAEL NOONAN, Minister for Finance, in exercise of the powers conferred on me by section 15 of the Central Bank and Credit Institutions (Resolution) Act 2011 (No. 27 of 2011), having consulted with the Central Bank of Ireland and the Credit Union Advisory Committee, hereby make the following regulations:

1.

2.

• (a) in paragraph (1) of Regulation 2—

• (i) by substituting for the definition of “competent authority” the following:

“ ‘competent authority’has the same meaning as it has in Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012¹ ;”,

• (ii) by substituting for the definition of “consolidated supervision” the following:

“ ‘consolidated supervision’ has the same meaning as it has in Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC² ;”, and

• (iii) by substituting for the definition of “levy period” the following:

“ ‘levy period’ means the period commencing on 1 October 2013 and ending on 30 September 2014.”,

• (b) in paragraph (2) of Regulation 2—

• (i) by substituting “28 June 2013” for “29 June 2012” in each place where it occurs, and

• (ii) in subparagraph (f), by substituting “28June 2013” for “30 June 2012”,

• (c) in paragraph (3) of Regulation 2, by substituting “30 June 2013” for “30 June 2012”,

• (d) in paragraph (1) of Regulation 3, by substituting “1 October 2013” for “1 October 2012”,

• (e) in Regulation 4—

• (i) in paragraph (1), by substituting “28 February 2014” for “28 February 2013”, and

• (ii) by inserting after paragraph (2) the following:

• “(2A) Where the interest under paragraph (2) in respect of a levy period is €50 or less, the Bank may, at its discretion, waive the amount due.”,

and

• (f) in Column (2) of the Schedule—

• (i) at Reference Number 1—

• (I) by substituting “competent authority” for “competent authorities”, and

• (II) by substituting “28 June 2013” for “29 June 2012” in each place where it occurs,

• (ii) at Reference Number 2—

• (I) by substituting “competent authority” for “competent authorities”, and

• (II) by substituting “28 June 2013” for “29 June 2012” in each place where it occurs,

and

• (iii) at Reference Number 3, by substituting “28 June 2013” for “29 June 2012” in each place where it occurs.

GIVEN under my Official Seal,

30 September 2013.

MICHAEL NOONAN,

Minister for Finance.

Footnotes