Investor Compensation Act, 1998
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Amendment of section 18 of Stock Exchange Act, 1995. |
73.— Section 18 of the Stock Exchange Act, 1995 , is hereby amended by the substitution for subsection (3) of the following subsection— | |
“(3) (a) Whenever the Bank decides to refuse to grant authorisation to a proposed member firm under this section, it shall serve notice on the proposed member firm of its decision to refuse to authorise it and stating the reasons therefor and the proposed member firm may within 21 days of receipt of such notice appeal to the Court against the decision. | ||
(b) If the proposed member firm does not make an appeal within the period specified in paragraph (a) of this subsection, the Bank shall issue to the proposed member firm notice of its decision to refuse to authorise it. | ||
(c) The Bank shall publish notice of the refusal of authorisation to a proposed member firm in the Iris Oifigiúil and in one or more newspapers circulating in the State within 28 days of the decision to refuse authorisation.”. |