Central Bank Reform Act 2010
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Appointment of persons to perform pre-approval controlled functions. |
23.— A regulated financial service provider shall not offer to appoint a person to perform a pre-approval controlled function unless the Bank has approved in writing the appointment of the person to perform the function. An offer made in contravention of this subsection does not create any contractual obligation. | |
(2) For the purposes of considering whether or not to approve a person under subsection (1), the Bank may request the person, or a specified officer or employee of the regulated financial service provider that proposes to appoint the person to perform a controlled function, by notice in writing to do any one or more of the following: | ||
(a) produce a specified document or documents to the Bank; | ||
(b) provide specified information to the Bank; | ||
(c) produce to the Bank documents of a kind described in the notice; | ||
(d) answer a question or questions set out in the notice; | ||
(e) attend before a specified officer or employee of the Bank for interview. | ||
(3) A notice under subsection (2) shall specify a date and time by which, and a place at which, the person shall provide the document or documents or information, provide answers to the question or questions, or attend for interview, as the case may be. | ||
(4) Nothing in subsection (2) or any notice given by the Bank under that subsection requires a person— | ||
(a) to produce to the Bank a document that the person could not have been compelled to produce to a court, | ||
(b) to give the Bank information that the person could not have been compelled to give a court, or | ||
(c) to answer a question (either in writing or at interview) that the person could not have been compelled to answer in a court. | ||
(5) The Bank may refuse to approve the appointment of a person for the purposes of subsection (1) where— | ||
(a) the Bank is of the opinion that the person is not of such fitness and probity as is appropriate to perform the function for which he or she is proposed to be appointed, or | ||
(b) the Bank is unable to decide, on the basis of the information available to it, whether the person is of such fitness and probity. | ||
(6) Without prejudice to the generality of subsection (5), the Bank may refuse to approve the appointment of a person under subsection (1) if— | ||
(a) the person, or an officer or employee of the regulated financial service provider concerned, has failed to comply with a request under subsection (2), or | ||
(b) any of the grounds set out in paragraphs (a) to (g) of section 25 (3) apply. | ||
(7) A refusal pursuant to subsection (5) is an appealable decision for the purposes of Part VIIA of the Act of 1942. |