Central Bank and Financial Services Authority of Ireland Act 2004
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PART 2 Amendment of Central Bank Act 1942 | ||
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Amendment of section 2 of Central Bank Act 1942 (Interpretation). |
2.— Section 2 of the Central Bank Act 1942 (as substituted by section 3 of the Central Bank and Financial Services Authority of Ireland Act 2003 ) is amended— | |
(a) by inserting the following definition after the definition of “Appeals Tribunal” in subsection (1): | ||
“ ‘associated entity’ in relation to a financial service provider, means— | ||
(a) a holding company of the financial service provider, or | ||
(b) a subsidiary company of the financial service provider, or | ||
(c) a company that is a subsidiary of a body corporate, if the financial service provider is also a subsidiary of the body, but neither company is a subsidiary of the other, or | ||
(d) if a financial service provider is a company, any other body corporate that is not a subsidiary of the company but in respect of which the company is beneficially entitled to more than 20 per cent of the nominal value of either— | ||
(i) the allotted share capital, or | ||
(ii) the shares carrying voting rights (other than voting rights which arise only in specified circumstances) in that other body corporate, | ||
or | ||
(e) a partnership or joint venture in which the financial service provider has a financial interest;”; | ||
(b) by inserting the following definition after the definition of “Currency Act 1927” in subsection (1): | ||
“ ‘Deputy Financial Services Ombudsman’ means the person holding office under section 57BL;”; | ||
(c) by inserting the following definition after the definition of “Director”: | ||
“ ‘EEA country’ means a country that is a member of the European Economic Area;”; | ||
(d) by inserting the following definitions after the definition of “financial services” in subsection (1): | ||
“ ‘Financial Services Ombudsman’ means the person holding office under section 57BJ or acting as Financial Services Ombudsman under section 57BM; | ||
‘financial service provider’ means a person who carries on a business of providing one or more financial services;”; | ||
(e) by inserting the following definition after the definition of “Governor” in subsection (1): | ||
“ ‘holding company’ means a company that has one or more subsidiary companies;”; | ||
(f) by inserting the following after the definition of “power” in subsection (1): | ||
“ ‘publication’, in relation to a report or other document, includes publishing the report or document in an accessible form on an Internet website;”; | ||
(g) by inserting the following definition after the definition of “record” in subsection (1): | ||
“ ‘regulated financial service provider’ means— | ||
(a) a financial service provider whose business is subject to regulation by the Bank or the Regulatory Authority under this Act or under a designated enactment or a designated statutory instrument, or | ||
(b) a financial service provider whose business is subject to regulation by an authority that performs functions in an EEA country that are comparable to the functions performed by the Bank or the Regulatory Authority under this Act or under a designated enactment or designated statutory instrument, or | ||
(c) in relation to Part VIIB only, any other financial service provider of a class specified in the regulations for the purposes of this paragraph;”; | ||
(h) in the definition of “Rome Treaty” in subsection (1), by substituting “1992;” for “1992.”; | ||
(i) by inserting the following definitions after the definition of “Rome Treaty” in subsection (1): | ||
“ ‘subsidiary company’ has the meaning given by section 2A; | ||
‘voting rights’ means— | ||
(a) in relation to a company that has a share capital, the rights conferred on shareholders by virtue of their shares, or | ||
(b) in relation to a company that does not have a share capital, the rights conferred on members, | ||
to vote at general meetings of the company on all, or substantially all, matters.”; | ||
(j) by inserting the following subsections after subsection (3): | ||
“(4) For the purposes of this Act, a person is concerned in the management of a body corporate, or a firm, that is a regulated financial service provider if the person is in any way involved in directing, managing or administering the affairs of the body or firm. | ||
(5) In this Act, a reference to the directors of a company, in relation to a company that does not have a board of directors, is a reference to the persons responsible for directing the operations of the company.”. |