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Version date: 1 November 2007 - onwards
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23. Further amendment of Investor Compensation Act 1998.

The Investor Compensation Act 1998 is further amended -

(a) in each of subparagraphs (i) and (ii) of section 30(2)(c), by substituting "the provision of investment business services" for "the provision of investment services";

(b) in section 30, by adding the following subsection:

"(5) An investment firm is, in the circumstances described in section 52(10) of the Act of 1995, taken to hold client money and investment instruments.";

(c) in section 32(2), by substituting "a client" for "an investor";

(d) in section 32, by inserting the following subsection after subsection (2):

"(2A) A client may appeal to the Irish Financial Services Appeals Tribunal against a decision of the supervisory authority under subsection (2) not to treat the application as if it were made within the stipulated period.";

(e) in section 32(4), by substituting "a client" for "an individual";

(f) in section 33, by substituting the following for subsection (2):

"(2) On being appointed as administrator to an investm

Comparing proposed amendment...