Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 14 June 2013 - onwards
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60. Meaning of "competent authority".

(1) Subject to section 61, a reference in this Part to the competent authority for a designated person is a reference to the competent authority prescribed for the class of designated persons to which the designated person belongs.

(2) If no such competent authority is prescribed, a reference in this Part to the competent authority is a reference to the following:

(a) in the case of a designated person that is a credit institution or a financial institution, the Central Bank of Ireland;

(b) in the case of a designated person who is an auditor, external accountant, tax adviser or trust or company service provider -

(i) if the person is a member of a designated accountancy body, the designated accountancy body, or

(ii) if the person is not a member of a designated accountancy body and is a body corporate, or a body of unincorporated persons, carrying out its functions under this Part through officers and members of it who are members of a designated accountancy body, the designated accou