(1) In this section "Act of 2013" means the Central Bank (Supervision and Enforcement) Act 2013.
(2) Where the supervisory authority forms the view that an insurance intermediary may be unable to repay money belonging to a client of the insurance intermediary, the supervisory authority may appoint an authorised officer under Part 3 of the Act of 2013 to investigate whether the insurance intermediary is unable to repay money or otherwise discharge its obligations towards clients of the insurance intermediary and to make a report to the supervisory authority in respect of the insurance intermediary.
(3) In relation to investment firms, an inspector appointed under the European Communities (Markets in Financial Instruments) Regulations 2007 (S.I. No. 60 of 2007) shall, for the purposes of this section, have the powers conferred on an authorised officer appointed under Part 3 of the Act of 2013.
(4) In relation to investment firms which are credit institutions, an inspector appointed under
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