Legalize / Ireland / Act

IRISH COLLECTIVE ASSET-MANAGEMENT VEHICLES ACT 2015

Type Act

Publication 2015-03-04

Last updated 2022-07-06

State In force

Text Latest available text

Source Irish Statute Book

PDF Download

articles 198

This is the most recent text the official source publishes. It is not a snapshot of the law as it stood on the date of each change.

8 amending acts · 2022-07-06, revised-IE-2015-act-2@2022-07-06

Act to make provision for the creation, operation and regulation of bodies corporate to be known as Irish Collective Asset-management Vehicles and to provide for related matters

Reform history JSON API

(6) Where a partnership ceases and no person succeeds to the appointment under subsection (4), the appointment may with the consent of the ICAV be treated as extending to a partnership or other person eligible for the appointment who succeeds to the business of the former partnership or to such part of it as is agreed by the ICAV to be treated as comprising the appointment.

128. Auditor’s access to records

128. (1) The auditor of an ICAV shall have a right of access at all times to the ICAV’s accounting records and is entitled to require from the ICAV’s officers such information and explanations as they think necessary for the performance of their duties as auditors.

(2) An officer of an ICAV who knowingly makes to an ICAV’s auditor a statement (whether written or oral) which—

(a) conveys or purports to convey any information or explanations which the auditor requires, or is entitled to require, as auditor of the ICAV, and

(b) is misleading, false or deceptive in a material particular,

commits a category 2 offence.

129. Rights of auditors

129. (1) The auditor of an ICAV is entitled—

(a) to receive all such notices of, and other communications relating to, any general meeting of the ICAV as a shareholder of the ICAV is entitled to receive,

(b) to attend any general meeting of the ICAV, and

(c) to be heard at any general meeting on any part of the business of the meeting which is of concern to him or her as auditor.

(2) The right of an auditor to attend and be heard at a general meeting is exercisable in the case of a body corporate or partnership by an individual authorised by it in writing to act as its representative at the meeting.

130. Remuneration of auditors

130. (1) The remuneration of an auditor of an ICAV who is appointed by the ICAV in general meeting shall be fixed by the ICAV in general meeting or in such manner as the ICAV in general meeting may decide.

(2) The remuneration of an auditor of an ICAV who is appointed by the directors or the Bank shall be fixed by the directors or the Bank (and be payable by the ICAV in the case where it is fixed by the Bank).

131. Power of competent authority

131. The power of a competent authority, referred to in F22[section 1544](https://www.irishstatutebook.ie/eli/2014/act/38/section/1544) of the [Companies Act 2014], to ensure that its standards include provisions in respect of statutory audit fees is to be exercisable in relation to auditors of Irish collective asset-management vehicles—

(a) for the same purposes, and

(b) subject to the same conditions.

132. Removal of auditor

132. (1) An ICAV may by resolution remove an auditor from office despite the terms of any agreement between it and the auditor.

(2) Where a resolution removing an auditor is passed at a general meeting of an ICAV, the ICAV shall, not later than 14 days after the date of the holding of the meeting, notify the Bank in writing of the passing of the resolution.

(3) Nothing in this section is to be taken as depriving a person removed under it of compensation or damages payable in respect of the termination of the person’s appointment as auditor or of any appointment terminating with that as auditor.

133. Resolution for removal of auditor

133. (1) A resolution at a general meeting of an ICAV—

(a) removing an auditor before the auditor’s period of office expires, or

(b) appointing as auditor a person other than the retiring auditor,

is not effective unless notice of the intention to move it has been given to the ICAV at least 28 days before the date of the meeting at which it is moved.

(2) On receipt of notice of an intended resolution under subsection (1), the ICAV shall without delay send a copy—

(a) in a case within subsection (1)(a), to the person proposed to be removed,

(b) in a case within subsection (1)(b), to the person proposed to be appointed and to the retiring auditor.

(3) The auditor proposed to be removed, or the retiring auditor, may make with respect to the intended resolution representations in writing to the ICAV (not exceeding a reasonable length) and request their notification to the shareholders of the ICAV.

(4) The ICAV (except where the representations referred to in subsection (3) are received by the ICAV too late for it to do so) shall—

(a) in any notice of the resolution given to the shareholders of the ICAV, state that the representations have been made, and

(b) send a copy of the representations to each of the shareholders whose name appears on the register of shareholders and to whom notice of the meeting is or has been sent.

(5) Where a copy of any representations referred to in subsection (3) is not sent out as required because they were received too late or because of the ICAV’s default or if, for either of those reasons, any steps required by subsection (4)(a) or (b) are not taken, the auditor may (without prejudice to a right to be heard orally) require that the representations be read out at the meeting.

(6) Copies of the representations need not be sent out, the steps required by subsection (4)(a) or (b) need not be taken and the representations need not be read out at the meeting where, on the application of the ICAV or any other person claiming to be aggrieved, the High Court is satisfied that the rights conferred by this section are being abused by any person to secure needless publicity for defamatory matter and the High Court may order the costs of the ICAV on such an application to be paid in whole or in part by the auditor, even if the auditor is not a party to the application.

134. Auditor who has been removed

134. (1) An auditor who has been removed from office has, despite the removal, the rights conferred by section 129 in relation to any general meeting of the ICAV at which—

(a) the auditor’s term of office would otherwise have expired, or

(b) it is proposed to fill the vacancy caused by the auditor’s removal.

(2) The reference in section 129 to business which is of concern to a person as auditor is to be construed in relation to an auditor who has been removed from office as a reference to business concerning such an auditor as former auditor.

135. Resignation of auditor

135. (1) An auditor of an ICAV may resign office by depositing a notice in writing to that effect at the ICAV’s head office.

(2) A notice referred to in subsection (1) is not effective unless it is accompanied by the statement required by section 138.

(3) An effective notice of resignation operates to bring the auditor’s term of office to an end as of the date on which the notice is deposited or on such later date as may be specified in it.

(4) An ICAV shall, not later than 14 days after the date of the deposit of a notice of resignation, send a copy of the notice to the Bank.

(5) If an ICAV fails to comply with subsection (4), the ICAV and any officer of it who is in default commits a category 3 offence.

136. Statement of circumstances

136. (1) This section applies where a notice of resignation of an auditor is accompanied by a statement of circumstances which he or she considers ought to be brought to the attention of the shareholders or creditors of the ICAV.

(2) An auditor may deposit with the notice, referred to in subsection (1), a signed requisition that a general meeting of the ICAV be convened forthwith for the purpose of receiving and considering such explanation of the circumstances connected with his or her resignation as he or she may wish to place before the meeting.

(3) The ICAV shall, not later than 21 days after the date of the deposit of a requisition, referred to in subsection (2), proceed to convene a meeting for a day not later than 28 days after the date on which the notice convening the meeting is given.

(4) An auditor may request the ICAV to circulate a statement in writing (not exceeding a reasonable length) of the circumstances connected with the resignation to each of the shareholders of the ICAV whose name appears on the register of shareholders—

(a) before the general meeting convened pursuant to the requisition, or

(b) before any general meeting at which the auditor’s term of office would otherwise have expired or at which it is proposed to fill the vacancy caused by the resignation.

(5) The ICAV (unless the statement is received by it too late for it to do so) shall—

(a) in any notice or advertisement of the meeting given or made to shareholders of the ICAV, state that the statement has been made, and

(b) send a copy of the statement to every shareholder of the ICAV to whom notice of the meeting is, or has been, sent.

(6) Where a copy of the statement, referred to in subsection (5), is not sent out or provided as required because it was received too late or because of the ICAV’s default the auditor may (without prejudice to the right to be heard orally) require that the statement be read out at the meeting.

(7) Copies of a statement, referred to in subsection (5), need not be sent out or provided and the statement need not be read out at the meeting where, on the application of the ICAV or any other person claiming to be aggrieved, the High Court is satisfied that the rights conferred by this section are being abused by any person to secure needless publicity for defamatory matter and the High Court may order the costs of the ICAV on such an application to be paid in whole or in part by the auditor, even if the auditor is not a party to the application.

137. Auditor who has resigned

137. (1) An auditor who has resigned has the rights conferred by section 129 in relation to any such general meeting of the ICAV as is mentioned in section 136(4)(a) or (b).

(2) The reference in section 129 to business which is of concern to a person as auditor is to be construed in relation to an auditor who has resigned as a reference to business concerning such an auditor as a former auditor.

138. Requirements consequent on ceasing to hold office

138. (1) Where an auditor of an ICAV ceases for any reason to hold office, he or she shall deposit at the head office of the ICAV a statement of any circumstances connected with his or her ceasing to hold office which he or she considers should be brought to the attention of the shareholders or creditors of the ICAV or, if he or she considers that there are no such circumstances, a statement that there are none.

(2) The statement referred to in subsection (1) shall be deposited—

(a) in the case of resignation, along with the notice of resignation,

(b) in the case of failure to seek re-appointment, not less than 14 days before the end of the time allowed for next appointing auditors, and

(c) in any other case, not later than the end of the period of 14 days beginning with the date on which he or she ceases to hold office.

(3) Where the statement referred to in subsection (1) is of circumstances which the auditor considers should be brought to the attention of the shareholders or creditors of the ICAV, the ICAV shall, not later than 14 days after the date of the deposit of the statement, either—

(a) send a copy of the statement to each of the shareholders whose name appears on the register of shareholders, or

(b) apply to the High Court,

and, where an application is made under paragraph (b), the ICAV shall notify the auditor.

(4) Unless the auditor receives notice of an application to the High Court before the end of the period of 21 days beginning with the day on which the statement referred to in subsection (1) was deposited, the auditor shall, not later than 7 days after the end of that period, send a copy of the statement to the Bank.

(5) Where the High Court is satisfied that the auditor is using the statement referred to in subsection (1) to secure needless publicity for defamatory matter—

(a) it shall direct that copies of the statement need not be sent out and that the steps required by Bank rules need not be taken, and

(b) it may further order the costs of the ICAV on the application to be paid in whole or in part by the auditor even if the auditor is not a party to the application,

and the ICAV shall, not later than 14 days after the date of the High Court’s decision, send a copy of a statement setting out the effect of the order to each of the shareholders whose name appears on the register of members.

(6) Where the High Court is not so satisfied, the ICAV shall, not later than 14 days after the date of the court’s decision, send to each of the shareholders a copy of the auditor’s statement and notify the auditor of the court’s decision.

(7) The auditor shall, not later than 7 days after the date of receiving the notice referred to in subsection (6) send a copy of the statement referred to in subsection (1) to the Bank.

(8) Where notice of appeal is filed not later than 14 days after the date of the High Court’s decision, any reference to that decision in subsections (5) and (6) is to be construed as a reference to the final determination or withdrawal of that appeal.

(9) Where a person ceasing to hold office as auditor fails to comply with this section he or she commits a category 2 offence.

(10) In proceedings for an offence under subsection (9), it is a defence for the person charged to show that he or she took all reasonable steps and exercised all due diligence to avoid the commission of the offence.

139. Withdrawal of approval

139. F23Chapter 11 of Part 27 of the [Companies Act 2014] applies in relation to auditors of Irish collective asset-management vehicles.

PART 8 Conversions of Investment Company or UCITS to ICAV

140. Conversion of investment company or UCITS to ICAV

140. (1) An investment company or an UCITS constituted as a company with fixed capital or variable capital in accordance with Regulation 4(6) (b) or (c) of the UCITS Regulations may apply to the Bank to be registered as an ICAV by way of continuation.

(2) The application shall be in such form as may be specified by the Bank and signed by a director of the company.

(3) The application shall be accompanied by—

(a) a copy of the certificate of incorporation issued by the Registrar,

(b) a copy, certified in such manner as may be specified by the Bank, of—

(i) the memorandum of association and the articles of association of the company, and

(ii) the instrument of incorporation in respect of the proposed ICAV,

(d) a statutory declaration of a director of the company made not more than 28 days before the date on which the application is made to the Bank to the effect that—

(i) no petition or other similar proceeding to wind up or liquidate the company has been notified to it and remains outstanding in any place and no order has been notified to the company, or resolution adopted, to wind up or liquidate it in any place,

(ii) the appointment of a receiver, liquidator, examiner or other similar person has not been notified to the company and, at the date of the declaration, no such person is acting in that capacity in any place with respect to the company or its property or any part of its property,

(iii) the company is not, at the date of the declaration, operating or carrying on business under any scheme, order, compromise or other similar arrangement entered into or made by the company with creditors in any place,

(iv) the conversion is permitted by and has been approved in accordance with the memorandum of association and articles of association of the company, and

F24[(v) any consent or approval to the proposed conversion required by any contract entered into or undertaking given by the company has been obtained or waived,]

(e) a declaration of solvency prepared in accordance with section 141,

(f) a schedule of charges or security interests created or granted by the company showing their priority which shall be as it would be were it to remain a company, and

(g) where different from its existing name, notification of the proposed name of the ICAV (other than where the only change is to delete the words “public limited company” or “plc” from the company’s existing name).

(4) The application shall be accompanied by a statutory declaration, in such form as may be specified by the Bank, made by—

(a) a practising solicitor engaged for this purpose by the company, or

(b) a director of the company,

stating that the requirements referred to in subsection (3) have been complied with and the Bank may accept such a declaration as sufficient evidence of compliance.

(5) The Bank shall, as soon as is practicable after receipt of an application under subsection (1) in relation to which subsections (2) to (4) are complied with, publish notice of it in the Iris Oifigiúil.

141. Declaration of solvency

141. (1) Where an application is made by a company under section 140 a director of the company making the application shall make a statutory declaration stating that he or she has made a full inquiry into its affairs and has formed the opinion that the company is able to pay its debts F25[(being the debts identified for the purposes of subsection (2)(b))] as they fall due.

(2) A declaration is of no effect unless—

(a) it is made not more than 28 days before the date on which the application is made,

(b) it contains a statement of the company’s assets and liabilities as at the latest practicable date before the making of the declaration, and, in any case, as at a date that is not more than 3 months before the date of the making of the declaration, and

(c) a report made by an independent person under subsection (4) is attached to the declaration, along with a statement by the independent person that he or she has given and has not withdrawn consent to the making of the declaration with the report attached to it.

(3) The report mentioned in subsection (2) (c) shall state whether, in the independent person’s opinion, based on the information and explanations given to him or her, the opinion of the director mentioned in subsection (1) and the statement of the company’s assets and liabilities referred to in subsection (2)(b), are reasonable.

(4) The independent person shall be a person who, at the time the report is made, is qualified to be auditor of the applicant.

(5) A director who makes a declaration under this section without having reasonable grounds for the opinion that the company is able to pay its debts as they fall due commits a category 2 offence.

(6) Where the company is wound up within a year after the date on which the application is made and its debts are not paid or provided for in full within that year, it shall be presumed, unless the contrary is shown, that the director did not have reasonable grounds for his or her opinion.

142. Registration pursuant to application for conversion

142. (1) Where the Bank receives an application under section 140 which complies with the requirements of that section, the Bank shall—

(a) issue a registration order in respect of the registration of the company as an ICAV, and

(b) enter in a register the details of charges and securities interests of the ICAV.

(2) The company shall then make an application to the Registrar in the form prescribed by the Minister for Jobs, Enterprise and Innovation to be de-registered as a company.

(3) On receipt of an application under subsection (2) the Registrar shall issue a certificate of de-registration of the company, shall enter in the register of companies that the company is de-registered and shall forthwith publish notice in the Companies Registration Office Gazette of the following matters:

(a) the date of the registration of the company as an ICAV under this section;

(b) the previous name of the company if different from the name under which it is registered as an ICAV.

(4) From the date of the registration of the company as an ICAV, the company shall become an ICAV, and shall cease to be a company, for all purposes but this section does not operate—

(a) to prejudice or affect the identity or continuity of the company as previously established and registered for the period for which it was established and registered in the State,

(b) to affect any contract made, resolution passed or any other act or thing done in relation to the company during the period that it was so established and registered,

(d) to render defective any legal proceedings by or against the company.

(5) In particular—

(a) the failure of the company to send to the Bank the particulars of a charge or security interest created before the date of registration shall not prejudice any rights which any person, in whose favour the charge was made or security interest created, may have under it, and

(b) any legal proceedings that could have been continued or commenced by or against the company before its registration under subsection (1) as an ICAV may, despite the registration, be continued or commenced by or against it after registration.

(6) On the registration of an investment company as an ICAV, the Bank shall immediately authorise it to carry on business.

(7) On the registration of an UCITS as an ICAV, the UCITS shall continue to be authorised under the UCITS Regulations.

(8) Section 889 of the Companies Act 2014 has effect as if this section were a provision of that Act.

143. Further statutory declarations

143. Where there is any material change in any of the information contained in the statutory declaration referred to in section 141(1) after the date of the declaration and before the date of the registration, the director who made that statutory declaration, and any other director who becomes aware of that material change, shall immediately deliver a new statutory declaration to the Bank relating to the change.

144. Failure to comply

144. (1) Where a company that has become registered as an ICAV under section 142(1) has failed to comply with this Part the Bank may give notice to the ICAV that, unless it rectifies the failure within 1 month after the date of the giving of notice and confirms that it has rectified the failure, a notice may be published in the Iris Oifigiúil with a view to striking it off the register of ICAVs.

(2) Where the failure mentioned in subsection (1) is not rectified within 1 month after the date of the giving of the notice referred to in that subsection, the Bank may publish in the Iris Oifigiúil a notice stating that, at the end of 1 month after the date of that notice, the ICAV will, unless the matter is resolved, be struck off the register of ICAVs and will be dissolved.

(3) At the end of the time mentioned in the notice, the Bank may, unless cause to the contrary is previously shown by the ICAV, revoke the relevant authorisation of the ICAV and strike the ICAV off the register, and shall publish notice thereof in the Iris Oifigiúil, and on that publication, the ICAV shall be dissolved.

PART 9 Migration

Chapter 1 Migration-in to become ICAV

145. Definitions

145. (1) In this Chapter—

“migrating body” means a body corporate which is established and registered under the laws of a relevant jurisdiction and which is a collective investment undertaking;

“registration documents” has the meaning given by section 146 ;

“relevant jurisdiction”, in relation to a migrating body, means the place, outside the State, prescribed under subsection (2) where the migrating body is established and registered at the time of its application under section 147.

(2) The Minister may make regulations prescribing places, outside the State, for the purposes of the definition of “relevant jurisdiction” in subsection (1) where he or she is satisfied that the law of the place concerned makes provision for migrating bodies to continue under the laws of the State or for Irish collective asset-management vehicles to continue under the laws of that place in a substantially similar manner to continuations under section 147.

146. Registration documents

146. (1) In this Chapter “registration documents”, in relation to a migrating body, means the following documents:

(a) a copy, certified and authenticated in such manner as may be specified by the Bank, of the certificate of registration or equivalent certificate or document issued with respect to the migrating body under the laws of the relevant jurisdiction;

(b) a copy, certified and authenticated in such manner as may be specified by the Bank, of the instrument of incorporation, or memorandum and articles, of the migrating body or equivalent constitutive document of the migrating body;

(c) a list setting out particulars in relation to the directors and secretary of the migrating body in accordance with the provisions of section 11;

(d) a statutory declaration of a director of the migrating body made, in such manner and form as may be specified by the Bank, not more than 28 days before the date on which an application is made to the Bank under section 147 to the effect that—

(i) the migrating body is, as of the date of the declaration, established and registered in the relevant jurisdiction, no petition or other similar proceeding to wind up or liquidate the migrating body has been notified to it and remains outstanding in any place, and no order has been notified to the migrating body or resolution adopted to wind up or liquidate the migrating body in any place,

(ii) the appointment of a receiver, liquidator or other similar person has not been notified to the migrating body and, at the date of the declaration, no such person is acting in that capacity in any place with respect to the migrating body or its property or any part of its property,

(iii) the migrating body is not, at the date of the declaration, operating or carrying on business under any scheme, order, compromise or other similar arrangement entered into or made by the migrating body with creditors in any place,

(iv) at the date of the declaration the migrating body has served notice of the proposed registration on the creditors of the migrating body,

(v) any consent or approval to the proposed registration in the State required by any contract entered into or undertaking given by the migrating body has been obtained or waived, and

(vi) the registration is permitted by and has been approved in accordance with the instrument of incorporation, or memorandum and articles, or equivalent constitutive document of the migrating body;

(e) a declaration of solvency prepared in accordance with Chapter 3;

(f) a schedule of the charges or security interests created or granted by the migrating body that would, if such charges or security interests had been created or granted by an ICAV, have been registerable under Part 6 and the particulars of such charges and interests as are specified in relation to charges by that Part;

(g) notification of the proposed name of the migrating body if different from its existing name;

(h) a copy of the instrument of incorporation which the migrating body has resolved to adopt, which shall be in the Irish language or the English language, which shall take effect on registration under section 147 and which the migrating body undertakes not to amend before registration without the prior approval of the Bank.

(2) If the original of any of the documents referred to in subsection (1) is not written in the Irish language or the English language, then “registration documents” in so far as that expression relates to such a document, means a translation of the document into the Irish language or the English language certified as being a correct translation of it by a person who is competent to so certify.

147. Continuation of migrating body

147. (1) A migrating body may apply to the Bank to be registered as an ICAV in the State by way of continuation.

(2) Where an application is made under subsection (1), the Bank shall not register the migrating body as an ICAV in the State unless it is satisfied that all of the requirements of this Act in respect of the registration and of matters precedent and incidental to the registration have been complied with and, in particular, but without prejudice to the generality of the foregoing, the Bank is satisfied that—

(a) the migrating body has delivered to the Bank an application for the purpose, in such manner and form as may be specified by the Bank and signed by a director of the migrating body, together with the registration documents,

(b) the name or, if relevant, the proposed new name of the migrating body is not, in the opinion of the Bank undesirable or misleading,

(c) the migrating body has delivered to the Bank notice of the address of its proposed registered office in the State, and

(d) the migrating body has applied to the Bank for a relevant authorisation and the Bank has notified the migrating body that it proposes to grant the relevant authorisation.

(3) An application under subsection (1) shall be accompanied by a statutory declaration, in such form as may be specified by the Bank, made by a solicitor engaged for this purpose by the migrating body, or by a director of the migrating body, and stating that the requirements mentioned in subsection (2) have been complied with, and the Bank may accept such a declaration as sufficient evidence of compliance.

(4) The Bank shall, as soon as is practicable after receipt of the application for registration, publish notice of it in the Iris Oifigiúil.

(5) Where the Bank notified the migrating body as mentioned in subsection (2)(d) the Bank shall issue a registration order in relation to the migrating body by way of continuation of the migrating body as an ICAV under the laws of the State and, if it issues a registration order shall enter in the register of ICAVs the details of charges and securities interests of the migrating body.

(6) The migrating body shall, as soon as may be after being registered under subsection (5), apply to be de-registered in the relevant jurisdiction.

(7) The Bank shall enter in the register of ICAVs the date of registration of the migrating ICAV and shall forthwith publish notice in the Iris Oifigiúil of the following matters:

(a) the date of the registration of the migrating body under this section;

(b) the relevant jurisdiction;

(8) From the date of registration, the migrating body shall be deemed to be an ICAV formed and registered under this Act and shall continue for all purposes under this Act, and the provisions of this Act shall apply to the migrating body, but this section does not operate—

(a) to create a new legal entity,

(b) to prejudice or affect the identity or continuity of the migrating body as previously established and registered under the laws of the relevant jurisdiction for the period that the migrating body was established and registered in the relevant jurisdiction,

(c) to affect any contract made, resolution passed or any other act or thing done in relation to the migrating body during the period that the migrating body was so established and registered,

(d) to affect the rights, authorities, functions and liabilities or obligations of the migrating body or any other person, or

(e) to render defective any legal proceedings by or against the migrating body.

(9) Without prejudice to the generality of subsection (8) —

(a) the failure of a migrating body to send to the Bank the particulars of a charge or security interest created before the date of registration shall not prejudice any rights which any person in whose favour the charge was made or security interest created may have under it, and

(b) any legal proceedings that could have been continued or commenced by or against the migrating body before its registration under this section may, notwithstanding the registration, be continued or commenced by or against the migrating body after registration.

148. Supplementary provision in relation to section 147

148. (1) The migrating body shall notify the Bank, within 3 days after the date of its de- registration in the relevant jurisdiction, of that de-registration in such manner and form as may be specified by the Bank.

(2) On registration of the migrating body under section 147(5) the Bank shall forthwith authorise the migrating body to carry on business.

(3) If there is any material change in any of the information contained in the statutory declaration mentioned in paragraph (d) of the definition of “registration documents” in section 146(1) after the date of the declaration and before the date of the registration under section 147, the director who made that statutory declaration, and any other director who becomes aware of that material change, shall forthwith deliver a new statutory declaration to the Bank relating to the change.

(4) If the migrating body fails to comply with any provision of section 147 or this section, the Bank may give notice to the ICAV that, unless it rectifies the failure within 30 days after the date of the giving of notice and confirms that it has rectified the failure, a notice may be published in the Iris Oifigiúil with a view to striking it off the register of ICAVs.

(5) If the failure mentioned in subsection (4) is not rectified within 30 days after the date of the giving of the notice referred to in that subsection, the Bank may publish in the Iris Oifigiúil a notice stating that, at the expiration of 1 month after the date of that notice, the migrating body will, unless the matter is resolved, be struck off the register of ICAVs, and the migrating body will be dissolved.

(6) At the expiration of the time mentioned in the notice the Bank may, unless cause to the contrary is shown by the migrating body, revoke the relevant authorisation of the migrating body and strike the migrating body off the register of ICAVs and shall publish notice thereof in the Iris Oifigiúil, and, on that publication, the migrating body shall be dissolved.

(7) For the purposes of this section section 166 shall apply as if reference in it to Chapter 1 of Part 11 included a reference to this section and, accordingly, the other provisions of Chapter 2 of that Part shall apply with any necessary modifications.

Chapter 2 De-registration following migration out

149. Definitions

149. (1) In this Chapter—

“applicant” means an ICAV that applies under section 150 to be de-registered under section 151;

“relevant jurisdiction”, in relation to an ICAV, means the place, outside the State, prescribed under subsection (2) in which the ICAV proposes to be registered;

“transfer documents”, in relation to an applicant, means the following documents:

(a) a statutory declaration, in such form as may be specified by the Bank, of a director of the applicant made not more than 28 days before the date on which the application is made to the Bank to the effect that—

(i) the applicant will, upon registration, continue as a body corporate under the laws of the relevant jurisdiction,

(ii) no petition or other similar proceeding to wind up or liquidate the applicant has been notified to the applicant and remains outstanding in any place, and no order has been notified to the applicant or resolution adopted to wind up or liquidate the applicant in any place,

(iii) the appointment of a receiver, liquidator or other similar person has not been notified to the applicant and, at the date of the declaration, no such person is acting in that capacity in any place with respect to the applicant or its property or any part of its property,

(iv) the applicant is not, at the date of the declaration, operating or carrying on business under any scheme, order, compromise or other similar arrangement entered into or made by the applicant with creditors in any place,

(v) the application for de-registration is not intended to defraud persons who are, at the date of the declaration, creditors of the applicant,

(vi) any consent or approval to the proposed de-registration required by any contract entered into or undertaking given by the applicant has been obtained or waived, and

(vii) the de-registration is permitted by the instrument of incorporation of the applicant;

(b) a declaration of solvency prepared in accordance with the provisions of Chapter 3;

(c) a copy of a special resolution of the applicant that approves the proposed de- registration and the transfer of the applicant to the relevant jurisdiction.

(2) The Minister may make regulations prescribing places, outside the State, for the purposes of the definition of “relevant jurisdiction” in subsection (1), where he or she is satisfied that the law of the place concerned makes provision for bodies corporate that are substantially similar to applicants under section 150 to continue under the laws of the State in a substantially similar manner to continuations under section 147 or for Irish collective asset-management vehicles to continue under the laws of that place.

150. De-registration of ICAVs when continued under law of place outside the State

150. (1) An ICAV which proposes to be registered in a relevant jurisdiction by way of continuation as a body corporate may apply to the Bank to be de-registered in the State.

(2) Where an application is made under subsection (1), the Bank shall not de-register the applicant as an ICAV in the State unless it is satisfied that all of the requirements of this Act in respect of the de-registration and of matters precedent and incidental to de- registration have been complied with and, in particular, but without prejudice to the generality of the foregoing, it is satisfied that—

(a) the applicant has delivered to the Bank an application for the purpose, in such form as may be specified by the Bank and signed by a director of the applicant, together with the transfer documents,

(b) the applicant has paid any levies or fees prescribed under section 32D or 32E of the Central Bank Act 1942which are due,

(d) the applicant has delivered to the Bank notice of any proposed change in its name and of its proposed registered office or agent for service of process in the relevant jurisdiction.

(3) An application under this section shall be accompanied by a statutory declaration, in such form as may be specified by the Bank, made by a solicitor engaged for this purpose by the applicant, or by a director of the applicant, and stating that the requirements mentioned in subsection (2) have been complied with, and the Bank may accept such a declaration as sufficient evidence of compliance.

(4) The Bank shall, as soon as is practicable after receipt of the application for de- registration, publish notice of it in the Iris Oifigiúil.

(5) Where an application is made under subsection (1) a person mentioned in subsection (6) may apply to the High Court, on notice to the applicant, the Bank and all creditors of the applicant, not later than 60 days after the date of the publication of the notice under subsection (4), for an order preventing the proposal or passage of a resolution specified in paragraph (c) of the definition of “transfer documents” in section 149(1) from taking effect in relation to the application, and the High Court may, subject to subsection (9) make such an order accordingly.

(6) The following persons may apply for an order under subsection (5) :

(a) the holders of not less than 5 per cent of the issued share capital of the applicant and who have not voted in favour of the resolution; or

(b) any creditor of the applicant.

(7) Notice of an application for an order under subsection (5) may be given to the creditors concerned by publication in at least one national newspaper in the State.

(8) The Bank and the applicant shall each be entitled to appear and be heard on an application under subsection (5) .

(9) The court may make an order under this section only if it is satisfied that—

(a) the proposed de-registration of the applicant would contravene the terms of an agreement or arrangement between the applicant and any shareholder or creditor of the applicant, or

(b) the proposed de-registration would be materially prejudicial to any shareholder or creditor of the applicant and the interests of shareholders and creditors or both taken as a whole would be materially prejudiced.

(10) An order made under subsection (5) shall specify the period in respect of which it shall remain in force.

(11) An order of the court under subsection (5) is final and conclusive and not appealable.

151. Provisions supplementary to section 150

151. (1) Unless the High Court orders otherwise, when one or more than one application is made under section 150(5), a resolution specified in paragraph (c) of the definition of “transfer documents” in section 149(1) in relation to an ICAV shall not take effect until—

(a) where the application or all the applications to the High Court are withdrawn—

(i) the day on which the resolution is passed,

(ii) the day next following the day on which the last outstanding application is withdrawn, or

(iii) the 31st day following the publication of the notice on the creditors under section 150(7),

whichever is the latest, and

(b) where all applications to the High Court are not withdrawn—

(i) the day on which the resolution is passed,

(ii) the day specified in the order or, if no date is specified in the order, the day next following the day on which the period for which the order is specified to remain in force expires or otherwise ceases to be in force, or

(iii) the day next following the decision of the High Court,

whichever is the latest.

(2) When the applicant is registered as a body corporate under the laws of the relevant jurisdiction, it shall give notice, in such form as may be specified by the Bank, to the Bank of that fact within 3 days after the date of its becoming so registered, including its new name (if any), and as soon as practicable after receiving that notice, the Bank shall revoke the applicant’s relevant authorisation and issue a certificate of de- registration of the applicant.

(3) The Bank shall enter in the register of ICAVs the date of the de-registration of the applicant and shall, within 7 days of the date of issue of the certificate under subsection (2), publish in Iris Oifigiúil notice of the following matters:

(a) the date of the de-registration of the applicant under this section;

(b) the relevant jurisdiction;

(4) From the date of registration of the applicant in the relevant jurisdiction, it shall cease to be an ICAV for all purposes of this Act and shall continue for all purposes as a body corporate under the laws of the relevant jurisdiction, but this section does not operate—

(a) to create a new legal entity,

(b) to prejudice or affect the identity or continuity of the applicant as previously constituted under the laws of the State for the period that the applicant was so constituted,

(c) to affect any contract made, resolution passed or any other act or thing done in relation to the applicant during the period that the applicant was constituted under the laws of the State,

(d) to affect the rights, authorities, functions and liabilities or obligations of the applicant or any other person, or

(e) to render defective any legal proceedings by or against the applicant.

(5) Without prejudice to the generality of subsection (2) any legal proceedings that could have been continued or commenced by or against the applicant before its de-registration under this Chapter may, notwithstanding the de-registration, be continued or commenced by or against the applicant after registration in the relevant jurisdiction.

Chapter 3 Declaration of solvency

152. Statutory declaration as to solvency

152. (1) Where an application is made under Chapter 1 or 2 a director of the migrating body or ICAV making the application shall make a statutory declaration, in such form as may be specified by the Bank, stating that he or she has made a full inquiry into its affairs and has formed the opinion that the migrating body or ICAV is able to pay its debts F26[(being the debts identified for the purposes of subsection (2)(b))] as they fall due.

(2) A declaration under subsection (1) shall have no effect for the purposes of this Chapter unless—

(a) it is made not more than 28 days before the date on which the application is made to the Bank,

(b) it contains a statement of the migrating body’s or ICAV’s assets and liabilities as at the latest practicable date before the date of the making of the declaration and in any event at a date not more than 3 months before the date of that making, and

(c) a report made by an independent person under subsection (3) is attached to the declaration, along with a statement by the independent person that he or she has given and has not withdrawn consent to the making of the declaration with the report attached to it.

(3) The report mentioned in subsection (2) (c) shall state whether, in the independent person’s opinion, based on the information and explanations given to him or her, the opinion of the director mentioned in subsection (1) and the statement of the migrating ICAV’s or applicant’s assets and liabilities referred to in subsection (2)(b), are reasonable.

(4) For the purposes of subsection (3), the independent person shall be a person who, at the time the report is made, is—

(a) in the case of an application under Chapter 1, qualified to be the auditor of the migrating body under the laws of the relevant jurisdiction, and

(b) in the case of an application under Chapter 2, qualified to be the auditor of the ICAV.

(5) A director who makes a declaration under this section without having reasonable grounds for the opinion that the migrating body or ICAV is able to pay its debts as they fall due commits a category 2 offence.

(6) Where the migrating body or ICAV is wound up within 1 year after the date on which the application is made to the Bank and its debts are not paid or provided for in full within that year, it shall be presumed, unless the contrary is shown, that the director did not have reasonable grounds for his or her opinion.

PART 10 Receivers and Winding Up

Chapter 1 Receivers

153. Receivers

153. (1) The provisions of Part 8 of the Companies Act 2014, and the other provisions of that Act relating to receivers, apply, subject to the necessary modifications and to the specific modifications specified in subsection (2), in relation to an ICAV as if it were an investment company.

(2) The modifications are the following:

(a) references to the Registrar are to the Bank;

(b) references to the prescribed form are to such form as may be specified by the Bank;

(c) references in section 431(1) (e) to such further or other information as may be prescribed are to such further or other information as may be specified by the Bank;

(d) in section 439(4) the reference to section 220 is to section 77 of this Act and paragraphs (b) and (c) are omitted;

(e) the references in section 447 to the Director of Corporate Enforcement include the Bank.

Chapter 2 Winding up

154. Winding up

154. (1) The provisions of Part 11 of the Companies Act 2014, and the other provisions of that Act relating to the winding up of companies (including, in particular, provisions about summary approval procedure) apply, subject to the necessary modifications and the specific modifications specified in subsection (2), in relation to an ICAV as if it were an investment company.

(2) The modifications are the following:

(a) references to the Registrar are to the Bank;

(b) references to the constitution of a company are to the instrument of incorporation of an ICAV;

(c) in the definition of “connected person” in section 559(1) and in 629(5) the reference to section 220 is to section 77 of this Act and paragraph (b) is omitted;

(d) in the table to section 567—

(i) the reference to section 286(3) is to section 114(1) of this Act;

(ii) the reference to section 609 is to section 115 of this Act;

(e) the references in sections 569(2) and 571(3) to section 212 are to section 55 of this Act;

(f) the reference in section 595(5) to that Act is to this Act;

(g) the words “into his or her custody or” in section 596 and paragraph 9 of the Table to section 627 are omitted;

(h) F27[sections 599 and 609] are omitted;

(i) section 636 has effect as if—

(i) the reference in subsection (3) to Part 4 were to section 91 of this Act,

(ii) for subsection (5) there is substituted a requirement that notice of a meeting given by a member, liquidator or contributory under subsection (3) comply with any requirements specified in the ICAV’s instrument of incorporation, and

(iii) the reference in subsection (6) to the Companies Act 2014 is omitted;

(j) the reference in section 656(2) to section 173 is to section 52 of this Act;

(k) in section 673—

(i) in subsection (1), for “hands of the liquidator” there is substituted “hands of the depositary or trustee within the meaning of the UCITS Regulations, to be under the control of the liquidator,”, and

(ii) in subsection (3), for “to the liquidator” there is substituted “to the depositary or trustee within the meaning of the UCITS Regulations, to be under the control of the liquidator,”.

PART 11 Strike Off and Restoration

Chapter 1 Strike off of ICAV

155. When Bank may strike ICAV off register

155. (1) Except in the case of an application by an ICAV to be struck off the register of ICAVs, the Bank may strike an ICAV off the register of ICAVs if—

(a) the ICAV is not an authorised ICAV,

(b) there exists one or more of the grounds for striking off set out in section 156, and

(2) In the case of an application by an ICAV to be struck off the register of ICAVs, the Bank may strike the ICAV off the register of ICAVs if—

(a) the ICAV is not an authorised ICAV,

(b) the conditions for striking off set out in section 161 have been satisfied, and

156. Grounds for involuntary strike off

156. The grounds referred to in section 155(1)(b) are:

(a) the Bank has reasonable cause to believe that the ICAV no longer complies with section 13;

(b) the ICAV, not being authorised under the UCITS Regulations, has not applied for authorisation under section 18 by the end of the period of 12 months since the date of the coming into operation of a registration order in relation to the ICAV;

(d) the ICAV is being wound up and the Bank has reasonable cause to believe that the affairs of the ICAV are fully wound up and that the returns required to be made by the liquidator have not been made for a period of 6 consecutive months;

(e) there are no persons recorded by the Bank as being current directors of the ICAV.

157. Bank’s notice to ICAV of intention to strike it off register

157. (1) The Bank may give notice in accordance with section 158 of the Bank’s intention to strike an ICAV off the register of ICAVs on a ground set out in any of paragraphs (a) to (e) of section 156.

(2) The Bank shall send the notice—

(a) except where paragraph (b) applies, to the ICAV,

(b) if the ground for striking off is that set out in section 156(c) or (d) and an individual is recorded by the Bank as the liquidator of the ICAV, to the liquidator.

(3) The Bank shall also send a copy of the notice to such persons, if any, as are recorded by the Bank as being current directors of the ICAV but non-compliance with this subsection does not affect the validity of a notice that otherwise complies with subsection (1) .

(4) Instead of giving a notice under subsection (1), the Bank may publish a notice in Iris Oifigiúil containing the information required by section 158 if no notice of the situation of the registered office of the ICAV has been given to the Bank as required by sections 7 and 11(2).

158. Contents of Bank’s notice to ICAV

158. (1) The Bank’s notice under section 157 shall—

(a) state that the issue of the notice is the first step in a process that may lead to the ICAV being struck off the register of ICAVs,

(b) state the ground or grounds for striking off being invoked by the Bank,

(d) specify the remedial step,

(e) specify the date on or before which the remedial step must be taken, and

(f) state that failure to take the remedial step on or before the date so specified may result in the Bank giving public notice of an intention to strike the ICAV off the register of ICAVs.

(2) The date to be specified for the purposes of subsection (1)(e) shall be a date falling not less than 28 days after the date of the notice.

159. Meaning of remedial step

159. For the purposes of sections 158, 160 and 163, the remedial step is whichever of the following applies:

(a) in the case of the ground for striking off set out in section 156(a), having brought itself into compliance with section 13;

(b) in the case of the ground for striking off set out in section 156(b), having applied for or been granted authorisation under section 18;

(c) in the case of the ground for striking off set out in section 156(c) or (d), having provided to the Bank the details of the liquidator and of up to date periodic statements having been furnished;

(d) in the case of the ground for striking off set out in section 156(e), having given notification to the Bank under section 65(6) of the appointment of at least 2 directors of the ICAV.

160. Public notice of intention to strike ICAV off register

160. (1) If the Bank has given a notice under section 157 and the remedial step has not been taken on or before the date specified in that notice for the purposes of section 158(1)(e), the Bank may, by publishing a notice in Iris Oifigiúil that complies with subsection (2), give public notice of the Bank’s intention to strike the ICAV off the register of ICAVs.

(2) The notice shall—

(a) specify the ground for striking the ICAV off,

(b) specify the remedial step,

(d) state that, unless that remedial step is taken on or before the date so specified, the Bank may strike the ICAV off and, if the Bank does so, the ICAV will be dissolved.

(3) The date to be specified for the purposes of subsection (2)(c) shall be a date falling not less than 28 days after the date of publication of the notice.

161. Conditions for voluntary strike off

161. (1) An ICAV may apply to the Bank to be struck off the register of ICAVs if the following conditions are satisfied:

(a) the circumstances relating to the ICAV are such as to give the Bank reasonable cause to believe that it has never carried on business or has ceased to carry on business;

(b) the ICAV has, within 3 months before the date of the application, by special resolution—

(i) resolved to apply to the Bank to be struck off on the ground that it has never carried on business or has ceased to carry on business, and

(ii) resolved that pending the determination of its application to be struck off (or, should it sooner occur, the cancellation, at its request, of this process), the ICAV will not carry on any business or incur any liabilities;

(c) the ICAV has delivered to the Bank a certificate, in such form as may be specified by the Bank and signed by each director, certifying that as at the date of the application—

(i) the amount of any assets of the ICAV does not exceed €150,

(ii) the amount of any liabilities of the ICAV (including contingent and prospective liabilities) does not exceed €150, and

(iii) the ICAV is not a party to ongoing or pending litigation;

(d) the Bank has received from the Revenue Commissioners written confirmation dated not more than 3 months before the date on which the Bank receives the application that the Revenue Commissioners do not object to the ICAV being struck off the register of ICAVs;

(e) the ICAV has caused an advertisement, in such form as may be specified by the Bank, of its intention to apply to be struck off to be published within 30 days before the date of the application in at least 1 daily newspaper circulating in the State.

(2) Where an application under this section by an ICAV to be struck off the register of ICAVs is made within one year after the date on which the ICAV has changed its name or its registered office (or both), then, as the case may be—

(a) the former name of the ICAV, as well as the existing name of the ICAV,

(b) the former address, as well as the current address, of the ICAV’s registered office, or

(c) both its former name and the former address of its registered office, as well as the existing name of the ICAV and the current address of its registered office,

shall be stated in the advertisement referred to in subsection (1)(e).

162. Public notice in case of voluntary strike off

162. (1) As soon as practicable after the receipt of an application by an ICAV to be struck off that satisfies the conditions set out in section 161 the Bank shall, by publishing a notice in Iris Oifigiúil that complies with subsection (2), give public notice of the Bank’s intention to strike the ICAV off the register of ICAVs.

(2) The notice shall—

(a) state that the ICAV has applied to be struck off,

(b) state—

(i) that any person may deliver to the Bank an objection to the striking off of the ICAV in such form as may be specified by the Bank, and

(ii) that any such objection must be confined to the ground that one or more of the conditions set out in section 161(1) have not been satisfied,

(d) state that, unless the Bank has received—

(i) an objection to the striking-off of the ICAV within that period, being an objection that the Bank sustains, or

(ii) a request for the cancellation of the process of strike off in accordance with subsection (4),

the Bank may strike the ICAV off the register of ICAVs and, if the Bank does so, the ICAV will be dissolved.

(3) The period to be specified for the purposes of subsection (2)(c) shall be the period ending 90 days after the date of publication of the notice.

(4) Within the period specified for the purposes of subsection (2)(c), the ICAV may request of the Bank, by delivering to the Bank a notice in that behalf in such form as may be specified by the Bank, the cancellation of the process of its being struck off the register of ICAVs.

163. Striking off (involuntary and voluntary cases) and dissolution

163. (1) If the Bank has given a notice under section 160 and the remedial step has not been taken on or before the date specified in that notice for the purposes of subsection (2)(c) of that section, the Bank may strike the ICAV off the register of ICAVs.

(2) If the Bank has given a notice under section 162 and—

(a) no objection referred to in subsection (2)(b) of that section has been delivered to the Bank within the period specified in that notice for the purposes of subsection (2)(c) of that section or the Bank is of opinion that there is no reasonable basis to such an objection that has been so delivered, and

(b) the ICAV has not requested, in accordance with subsection (4) of that section, the cancellation of the process of its being struck off,

the Bank may strike the ICAV off the register of ICAVs.

(3) The Bank shall publish in Iris Oifigiúil a notice of the striking of an ICAV off the register of ICAVs.

(4) The ICAV is dissolved on the date of publication by the Bank of the notice in the Iris Oifigiúil of its being struck off and that date is referred to subsequently in this Part as the “date of dissolution”.

164. Effect of removal and dissolution

164. (1) The liability, if any, of an officer or member of an ICAV that has been dissolved under section 163(4) shall continue and may be enforced as if the ICAV had not been dissolved.

(2) Nothing in this section or in section 163 shall affect the power of the High Court to wind up an ICAV that has been struck off the register of ICAVs or dissolved under that section.

(3) For the purposes and the purposes only of—

(a) an application for the restoration of the ICAV to the register of ICAVs under section 167 or 168, or

(b) in so far as is necessary for the making of such an application (or the doing of anything required by or under Chapter 2 to be done consequent on the making of it),

an ICAV shall be deemed not to have been dissolved under section 163.

(4) Subsection (3) shall not be read as authorising the dealing with, or the exercising of control over, any property that has become the property of the State pursuant to Part III of the State Property Act 1954.

165. Power of Bank to obtain information

165. (1) Where an ICAV has been struck off the register of ICAVs under section 163 on any of the grounds set out in section 156(a) or (b), the Bank may, by notice to the directors of the ICAV, require those persons to produce to the Bank a statement of affairs of the ICAV in accordance with this section.

(2) The persons to whom a notice is sent under subsection (1) shall, within the period specified in the notice in that behalf, produce to the Bank a statement of affairs of the ICAV that complies with subsection (3) .

(3) The statement of affairs shall—

(a) be in such form as may be specified by the Bank,

(b) be verified by an affidavit,

(i) particulars of its assets, debts and liabilities;

(ii) the names and addresses of its creditors;

(iii) particulars of securities given by the ICAV, including the name of the secured creditor in each case and the date on which the security was given;

(iv) such further or other information as may be specified by the Bank or that the Bank may reasonably require.

(4) On the application of the Bank, the High Court may require a person who has made a statement under subsection (2) to appear before it and answer on oath any question relating to the content of the statement.

(5) A person who fails to comply with subsection (2) commits a category 3 offence.

Chapter 2 Restoration of ICAV to register

166. Application of Chapter

166. This Chapter applies to an ICAV that has been struck off the register of ICAVs under Chapter 1.

167. Restoration on application to Bank

167. (1) On an application by a person specified in subsection (3), the Bank may restore an ICAV to the register of ICAVs if—

(a) the Bank has reasonable cause to believe that the strike off of the ICAV has disadvantaged the applicant,

(b) the application is made in the form specified by the Bank,

(c) the application is received by the Bank within the period of 12 months after the date of dissolution of the ICAV, and

(d) the requirements of subsection (2) have been satisfied within the period of 15 months after the date of dissolution of the ICAV.

(2) The requirements referred to in subsection (1)(d) are the following:

(a) the Bank has received written confirmation from the Minister and the Revenue Commissioners that they have no objection to the ICAV being restored to the register of ICAVs under this section;

(b) the Bank is satisfied that no notification required by section 65(6) remains outstanding in relation to the ICAV.

(3) The Bank may restore an ICAV to the register of ICAVs on the application of a person who was a member or an officer of the ICAV at the date of its dissolution.

(4) On the registration of an application under this section and on payment of such fee as may be prescribed under section 32E of the Central Bank Act 1942, the Bank shall restore the ICAV to the register of ICAVs and the ICAV shall be deemed to have continued in existence as if it had not been struck off.

(5) Subject to any order made by the High Court in the matter, the restoration of an ICAV to the register of ICAVs under this section shall not affect the rights and liabilities of the ICAV in respect of any debt or obligation incurred, or any contract entered into, by, to, with or on behalf of the ICAV between the date of its dissolution and the date of restoration.

168. Restoration on application to High Court

168. (1) On an application in accordance with section 169 by a person specified in subsection (2), the High Court may order that an ICAV that has been struck off the register of ICAVs be restored to the register of ICAVs if—

(a) the striking off of the ICAV has disadvantaged the applicant,

(b) the application is made within the period of 2 years after the date of dissolution of the ICAV, and

(2) The High Court may make the order on the application of—

(a) the ICAV,

(b) a creditor of the ICAV,

This document does not substitute the official text published in the Irish Statute Book. We accept no responsibility for any inaccuracies arising from the transcription of the original into this format.

This text is published under Irish Statute Book's own terms of reuse, not a Legalize or public-domain licence. Irish Statute Book
CC-BY 4.0 (Oireachtas Open Data PSI Licence)
Contains Irish Public Sector Information licensed under the Oireachtas (Houses of the Oireachtas) Open Data PSI Licence / Creative Commons Attribution 4.0 International, sourced from https://www.irishstatutebook.ie.