S.I. No. 215/2020 - European Union (Insurance Distribution) (Amendment) Regulations 2020
Notice of the making of this Statutory Instrument was published in | ||
“Iris Oifigiúil” of 19th June, 2020. | ||
The Minister for Finance, in exercise of the powers conferred on him by section 3 of the European Communities Act 1972 (No. 27 of 1972) and for the purpose of giving further effect to Directive (EU) 2016/971 of the European Parliament and of the Council of 20 January 2016 on insurance distribution as amended by Commission Delegated Regulation (EU) 2019/19352 of 13 May 2019, hereby makes the following regulations: | ||
1. (1) These Regulations may be cited as the European Union (Insurance Distribution) (Amendment) Regulations 2020. | ||
(2) These Regulations come into operation on 12 June 2020. | ||
2. The European Union (Insurance Distribution) Regulations 2018 ( S.I. No. 229 of 2018 ) are amended, in Regulation 21(1), by the substitution of “ for not less than €1,300,380 applying to each claim and in aggregate €1,924,560 per year” for “ for not less than €1,250,000 applying to each claim and in aggregate €1,850,000 per year”. | ||
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GIVEN under the Official Seal of the Minister for Finance, | ||
16 June, 2020. | ||
PASCHAL DONOHOE, | ||
Minister for Finance. | ||
