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Amendment of section 74 of Act of 1995.
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67.—Section 74 of the Act of 1995 is hereby amended—
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(a) in subsection (7) by the substitution for “may dismiss the application or may make a determination that” of “may make a determination as to whether” and the subsection as so amended is set out in the Table to this paragraph.
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TABLE
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(7) Following an inquiry by a Committee appointed under subsection (5) of this section, that Committee may make a determination as to whether there has been a breach of a condition or requirement, and may do all or any of the following:
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(a) issue a reprimand to an investment business firm or professional body,
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(b) direct that an investment business firm or professional body shall pay the supervisory authority a specified sum, not to exceed £500,000, in respect of any breach of a condition or requirement,
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(c) arrange for the publication of such details as it deems proper concerning a determination made under this subsection in the Iris Oifigiúil and in one or more newspapers circulating in the State,
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(d) make such order as to costs as it thinks fit.
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(b) in subsection (8) by the insertion before “and the Court may vary” of “within two months of the date of the determination of the Committee or such further period as the Court thinks fit” and the subsection as so amended is set out in the Table to this paragraph.
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TABLE
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(8) An investment business firm or professional body may appeal to the Court against a determination of the Committee issued under subsection (7) of this section within two months of the date of the determination of the Committee or such further period as the Court thinks fit and the Court may vary or annual the determination of the Committee.
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