(1) A credit institution or, subject to the Competition Act 1991, a group of any such credit institutions in respect of a service offered jointly by the group, shall notify the Bank of every proposal -
(a) to increase any charge that has been previously notified to the Bank, or
(b) to impose any charge in relation to the provision of a service to a customer or to a group of customers, that has not been previously notified to the Bank.
(2) Every notification under subsection (1) must be accompanied by -
(a) subject to subsection (4), such fee as the Bank may decide with respect to each notification, being a fee that does not exceed the prescribed maximum amount, and
(b) a statement of the commercial justification for the proposal, including a detailed statement of cost, and
(c) details of the estimated amount of additional income accruing from the proposal.
(3) For the purposes of subsection (2)(a), the prescribed maximum amount is -
(a) €31,750, or
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