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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 19 December 2012 - onwards
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Schedule 4, Part 7 Amendments of Investor Compensation Act 1998

Section 70.

Item

Provision affected

Amendment

(1)

(2)

(3)

1

Section 9

Substitute the following for section 9:

"(1) In this section ‘Act of 2010’ means the Central Bank Reform Act 2010.

(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 5 of the Act of 2010 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 Pa

Comparing proposed amendment...