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Meaning of “State competent authority”.
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62.— (1) In this Part, a reference to a State competent authority is a reference to one of the following competent authorities:
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(a) the Central Bank and Financial Services Authority of Ireland;
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(b) the Minister;
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(c) such other competent authority as is prescribed.
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(2) The Minister may prescribe a competent authority as a State competent authority for the purposes of subsection (1) (c) only if—
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(a) the Minister is satisfied that the competent authority is appropriate, having regard to the functions of State competent authorities under this Part, and
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(b) the competent authority is a Minister of the Government or an officer of a particular class or description of a Department of State or is a body (not being a company) by or under an enactment.
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