Investment Intermediaries Act, 1995

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Number 11 of 1995

INVESTMENT INTERMEDIARIES ACT, 1995

ARRANGEMENT OF SECTIONS

Preliminary and General

Section
1.	Short title and commencement.
2.	Interpretation.
3.	Service of notices.
4.	Supervisory authorities.
5.	Amendment of definitions.
6.	Expenses.
7.	Laying of regulations before Houses of the Oireachtas.

PART II

Authorisation

PART III

Regulation and Supervision of Investment Business Firms

20.	General functions of supervisory authorities.
21.	Directions by supervisory authority.
22.	Winding-up on application to Court.
23.	Restrictions on advertising.
24.	Exemption from restrictions on advertising.

PART IV

Investment Product Intermediaries

25.	Definition of investment product intermediary.
26.	Definition of restricted activity investment product intermediaries.
27.	Requirements for investment product intermediaries.
28.	Obligations on product producers.
29.	Disclosure obligations of restricted activity investment product intermediaries.
30.	Issue of receipts.
31.	Register of investment product intermediaries.

PART V

Auditors

32.	Notification of changes of auditor.
33.	Auditors for investment business firms which are not incorporated bodies and duties of auditors.
34.	False statements to auditors.
35.	Power to require a second audit.

PART VI

Probity, Codes of Conduct and Miscellaneous Provisions

36.	Probity and competence of employed persons.
37.	Code of conduct.
38.	Acquiring transactions.
39.	Notification of certain transactions.
40.	Approval of acquiring transactions.
41.	Period for implementing acquiring transactions.
42.	Imposition of conditions or requirements in respect of proposed acquiring transactions.
43.	Limitation on validity of certain acquiring transactions.
44.	Refusal to approve acquiring transactions.
45.	Appeals to Court.
46.	Inquiries into certain acquiring transactions.
47.	Obligation to inform a supervisory authority of shareholdings.
48.	Contravention of terms of approval of acquiring transactions.
49.	Amendment of section 16 of Central Bank Act, 1989.
50.	Investor compensation.
51.	Bonding.
52.	Client money and investment instruments.
53.	Exemption from liability for damages.
54.	Personal liability of officers.

PART VII

Approved Professional Bodies

55.	Interpretation (Part VII).
56.	Grant of approval to operate as an approved professional body.
57.	Interim approval.
58.	Imposition of conditions or requirements on approved professional bodies.
59.	Refusal to consent to amendment of rules, etc.
60.	Appeals on refusal to grant approval, etc.
61.	Revocation of approval.
62.	Maintenance of books and records.
63.	Authorisation of certified persons.

PART VIII

Enforcement, Offences and Penalties

64.	Authorised officers.
65.	Powers of authorised officers.
66.	Appointment of inspector by Court.
67.	Power of inspector to extend investigation.
68.	Direction to inspector by Court.
69.	Powers of inspection.
70.	Expenses of and fees relating to an investigation.
71.	Inspectors' reports and proceedings thereon.
72.	Powers of Court following consideration of reports.
73.	Appointment of inspector by a supervisory authority.
74.	Power to make determinations for breaches of conditions or requirements.
75.	Search and seizure.
76.	Admissibility in evidence of reports of inspectors.
77.	Privilege.
78.	Consent to publication of information.
79.	Offences and penalties.

PART IX

Amendment of Companies Act, 1990

80.	Amendment of Companies Act, 1990.

FIRST SCHEDULE

SECOND SCHEDULE

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Number 11 of 1995

INVESTMENT INTERMEDIARIES ACT, 1995

AN ACT TO MAKE PROVISION IN RELATION TO INVESTMENT BUSINESS FIRMS AND INVESTMENT PRODUCT INTERMEDIARIES AND FOR THE AUTHORISATION AND SUPERVISION OF INVESTMENT BUSINESS FIRMS AND INVESTMENT PRODUCT INTERMEDIARIES BY THE CENTRAL BANK OF IRELAND AND THE MINISTER FOR ENTERPRISE AND EMPLOYMENT AND TO AMEND THE COMPANIES ACT, 1990, AND TO PROVIDE FOR RELATED MATTERS. [4th July, 1995]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

Investment Intermediaries Act, 1995 Permanent Page URL

Investment Intermediaries Act, 1995

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