(1) In these Regulations -
"Act of 2010" means the Central Bank Reform Act 2010;
"Act of 2013" means the Central Bank (Supervision and Enforcement) Act 2013;
"allocated responsibility" means a prescribed responsibility or other responsibility for which a PCF holder will have allocated responsibility within the meaning of Section 53B(1) (b) of the Act of 2010;
"Bank" means the Central Bank of Ireland; "Board" means the board of directors of the firm;
"client assets" means client funds and client financial instruments;
"firm" means a relevant credit institution, a relevant insurance undertaking or a relevant investment firm;
"governing body" means the Board, or other persons who are directing the business of the regulated financial service provider;
"inherent responsibility" shall be construed in accordance with Regulation 4(1);
"low impact investment firm" means an investment firm that is designated as Low Impact by the Bank under the Bank's Probability Risk Impact System, and has a wri
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