The Principal Act is amended by inserting the following Parts before Part IV:
"Part IIIA Irish Financial Services Regulatory Authority
Chapter I Constitution, functions and powers of Regulatory Authority
33A. Interpretation: Part IIIB and Schedule 3.
In this Part and Schedule 3 -
'Chairperson' means Chairperson of the Regulatory Authority;
'member' means a member of the Regulatory Authority;
'other members of the Regulatory Authority' -
(a) when used in a provision relating to the Chief Executive - means a majority of the members of the Regulatory Authority other than the Chief Executive or a person acting as such, and
(b) when used in a provision relating to the Consumer Director - means a majority of the members of the Regulatory Authority other than the Consumer Director or a person acting as such.
33B. Establishment of Regulatory Authority.
(1) There is established by this section a body called 'Údarás Rialála Seirbhísí Airgeadais na hÉireann' or in the English language the '
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